xStocks Tokenized Assets Platform Surpasses $17 Billion in Total Trading Volume
- The Rise of Tokenized Assets
- Top Performers: Tesla, NVIDIA, and Circle
- Other Notable Tokens
- NYSE Enters the Fray
- FAQs
The xStocks platform, a leader in tokenized assets, has achieved a milestone with over $17 billion in total trading volume. Dominated by tokens linked to Tesla, NVIDIA, and Circle, the platform boasts 57,718 unique wallet addresses holding one or more xStocks tokens. With decentralized exchanges contributing over $500 million, the ecosystem continues to expand as traditional financial players like the NYSE explore blockchain-based trading solutions.
The Rise of Tokenized Assets
Tokenized assets are revolutionizing the financial landscape, and xStocks is at the forefront. The platform recently surpassed $3 billion in on-chain trading volume, with decentralized exchanges (DEXs) accounting for more than $500 million. In total, centralized and decentralized exchanges have facilitated over $17 billion in trades. Currently, 57,718 wallets hold xStocks tokens, each representing real-world stocks or ETFs.
Top Performers: Tesla, NVIDIA, and Circle
According to data from Dune Analytics, the TSLAx token, tied to Tesla, leads the pack with 18,350 holders and a market value of $53.48 million. The NVDAx token, linked to NVIDIA, follows with 13,816 holders and $19.36 million in assets. CRCLx, representing Circle, holds third place with 7,986 holders and $17.78 million in assets.
Other Notable Tokens
Tokens like GOOGLx (Alphabet), SPYx (S&P 500), and MSTRx (MicroStrategy) also show significant traction. For instance, GOOGLx has 10,328 holders and $13.74 million in assets, while SPYx boasts 11,452 holders and $12.66 million in assets. Even niche tokens like NFLXx (Netflix) and MCDx (McDonald’s) have found their audience, with 1,345 and 1,181 holders, respectively.
NYSE Enters the Fray
The New York Stock Exchange (NYSE) is developing its own blockchain-based platform to trade tokenized stocks and ETFs 24/7. Michael Blaugrund of Intercontinental Exchange highlighted the initiative as part of NYSE’s shift toward blockchain technology. The platform aims to enable instant trading and real-time settlement, pending SEC approval.
FAQs
What are xStocks tokens?
xStocks tokens are digital representations of real-world stocks or ETFs, traded on blockchain platforms.
Which tokens are most popular?
TSLAx (Tesla), NVDAx (NVIDIA), and CRCLx (Circle) dominate in both holder count and asset value.
How does the NYSE’s platform differ?
The NYSE’s proposed platform will use blockchain for 24/7 trading and instant settlement, unlike traditional markets.
