Ondo Finance Dominance Challenged by xStocks in Tokenized Stocks Market

Ondo Finance is dominating the tokenized stocks market, but xStocks is closing in.

The platform has seen a significant increase in user base and market share, with over $150,000 unique holders in under a year. This milestone marks a major achievement for Ondo Stocks, which now accounts for 292,000 holdings across individual tokenized stocks and ETFs.

Tokenized stocks have reached a mammoth $2.8 billion in market cap, with Ondo Finance leading the charge at 34.9%. xStocks follows closely behind with 22.5%, while Binance bStocks hold 21.2% of the market share. Together, these three issuers account for 78.6% of the entire tokenized stocks market.

In a surprising turn of events, xStocks outpaced Ondo Finance in weekly market cap growth, adding $17.3 million over seven days. This development is significant, as it shows that competition in the tokenized stocks market is heating up.