xStocks Plummets 93% Post-July 4th – Is Wall Street Obsolete in the Era of 24/7 Trading?

Another day, another crypto bloodbath. xStocks—the platform that promised to democratize round-the-clock trading—just got decimated. A 93% nosedive post-Independence Day has traders asking: Can markets really function without Wall Street's old-world gatekeepers?

Round-the-Clock Trading: Revolution or Delusion?

xStocks bet big on 24/7 trading, pitching itself as the anti-Wall Street. But this week's collapse suggests investors still crave the illusion of safety that comes with traditional market hours—and maybe those pesky regulators too.

The Numbers Don't Lie

That 93% drop isn't just a correction—it's a full-system failure. While crypto natives shrug ("Just another Tuesday"), traditional finance sharks are circling. "See?" says every bank CEO simultaneously. "This is why we have closing bells."

Wall Street's Last Laugh?

Maybe the suits were right about one thing: unlimited trading hours mean unlimited panic. Or maybe xStocks just learned the hard way that in finance, the house always wins—even when it's a decentralized protocol. One thing's certain: the next "market disruptor" will still take weekends off.

xStocks $8.5M highs to a holiday hush — What went wrong?

On the 2nd of July, xStocks trading hit a high: over $8.5 million in Daily Volume and more than 6,600 active traders.

But by the 5th of July, those numbers had collapsed; volume fell to just $563,000, and wallet participation dropped to 1,700.

Source: Dune Analytics

SPYx and METAx led the action at the top, but even those saw momentum dry up as the holiday break set in. Despite being available 24/7, these tokenized equities appear to dance to the beat of legacy markets.

The steep drop showed behavioral reliance, suggesting that decentralization alone isn’t enough to rewrite market habits… just yet.

Top tickers that led — and lagged — during the leap

Data showed that the xStocks frenzy wasn’t evenly spread.

Source: Dune Analytics

METAx and SPYx dominated early July trading, with TSLAx, HOODx, and NVDAx not far behind. But even these top performers couldn’t escape the post-holiday drop.

Daily trading accounts plummeted from over 8,500 on the 1st of July to under 2,000 by the 5th.

Source: Dune Analytics

Tokens like ORCLx, GLDx, and CRWDx had substantial supply listed, but barely saw any takers. The disconnect between availability and demand points to a deeper challenge: liquidity doesn’t equal interest.

Naturally, it seems without cues from TradFi, most wallets chose to sit on the sidelines.

Built for 24/7—but still tied to 9-to-5?

The 4th of July lull may seem like a one-off, but it could be something deeper.

Despite being built for 24/7 markets, xStocks trading still syncs with traditional finance schedules. Whether this was a holiday-driven pause or a symptom of structural dependence remains unclear.

What’s certain is this: for tokenized equities to break away from legacy rhythms, they’ll need conviction, consistency, and a user base that trades on its own terms.