Tokenized Stocks Trading Volume Hits $1 Billion on Raydium

Tokenized stocks xStocks' cumulative decentralized exchange (DEX) trading volume over the past 30 days has been reported at around $100 million (approximately KRW 1.36 trillion), according to Token Terminal. Raydium dominated with $852 million (KRW 195 billion), representing 80.5% of total volume, followed by Byreal and Orca with $179 million (KRW 146.7 billion) and $72.5 million (KRW 98.6 billion) respectively.

The combined trading volume for these three exchanges totaled approximately $985.6 million (KRW 1.34 trillion), making up the majority of xStocks' DEX activity. Token Terminal clarified that this figure reflects actual transaction volumes over the past month, not the issued asset value. The report noted that while tokenized stocks are gaining traction on Solana-based DEXs, distinguishing between issuance size and trading volume is important as high trading volume does not necessarily indicate strong holding numbers or overall market liquidity.

Token Terminal also stated that as tokenized stock trading becomes more active, DEXs are emerging as key spaces for both trading and providing liquidity. However, it remains unclear whether this activity will continue or spread across multiple platforms based solely on the current data.