Market commentator The Kobeissi Letter spotlighted on Tuesday record-breaking tokenized stock volumes, with Solana (CRYPTO: SOL) crossing the $10 billion cumulative volume milestone for the first time.
Crypto Bros’ Appetite For Equities
Tokenized stock trading volume has already exceeded $6 billion this June across all blockchains, according to data from asset tokenization analytics platform rwa.xyz. This marked the highest monthly volume ever, and a 70% jump from last month.
Solana accounted for 66% share of the total volume, followed by BNB Chain (CRYPTO: BNB) and Ethereum (CRYPTO: ETH).
“We are seeing historic growth in tokenized stock trading volumes,” Kobeissi Letter said.
Solana Leads The Way
The Kobeissi Letter noted that Solana’s cumulative transfer volume has crossed the $10 billion mark for the first time in history. They attributed this massive 180% surge over the last month to the “growing demand” for tokenized real-world asset products.
The total market value for all tokenized stocks stood at $1.54 billion as of this writing. The monthly active addresses have surged nearly 30% in a month, while the number of holders has risen 37% month-over-month.
Regulatory Clarity Awaits
That said, they will need the Clarity Act to pass to have a clearer legal position in the U.S. The legislation would define when a token qualifies as a security — the missing piece that allows tokens to function as shares.
Price Action: At the time of writing, SOL was exchanging hands at $69.35, up 0.59% in the last 24 hours, according to data from Benzinga Pro.
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