Backpack Shocks xStocksFi with Solana Tokenized Equities Dominance

Backpack has surpassed xStocksFi in monthly tokenized equities volume on Solana, despite holding only 5% of the total supply. In July 2026, Backpack pulled in $1.06 billion in trading volume, outperforming xStocksFi which controls about 87% of Solana's tokenized stock supply.

The platform's edge comes from its propAMM models, a proprietary automated market maker design that concentrates liquidity more efficiently than traditional order book or AMM approaches.

The SpaceX token, trading under the ticker SPCX, has been a standout performer, with cumulative volume surpassing $350 million and 10,000 onchain holders shortly after its June 2026 listing.