$1.4 Billion in Tokenized Stock Trades Over Labor Day Weekend
Over the Labor Day weekend, tokenized stocks traded nearly as much as they did on Friday when US exchanges were open. According to CoinGecko data covering the 42 largest tokens across four platforms, $1.01 billion worth of trades took place on Saturday and Sunday, with an additional $398.3 million traded on Labor Day itself. This brings the total three-day trading volume to $1.41 billion.
Robinhood Chain was the dominant player in weekend trading, accounting for 57% of the measured volume at $572.8 million. Binance's bStocks came second with $303.5 million, followed by Backed Finance's xStocks and Ondo Global Markets. Robinhood's tokenized equities have a total value of $133.2 million, much lower than Ondo's $860 million and xStocks' $631.2 million.
The most-traded instrument over the weekend was the bStocks version of the Invesco QQQ Trust, $QQQB, with $180.5 million traded on Saturday and Sunday combined. Tokenized prices remained close to Friday's closes, with some minor premiums. The reopening on Tuesday saw a dip in NVDA and Hims & Hers token prices.