Solana Surpasses Legacy Exchanges in Tokenized Stock Trading Volume
Solana's tokenized stock market cleared over $200 million in one day this month, beating Nasdaq and NYSE in tokenized stock trading volume. According to Solana Foundation data cited by Solana Compass, traders on Solana moved more than $200 million of tokenized stocks through the network on September 12.
This was enough to beat the combined tokenized-equity volume Solana Compass attributed to Nasdaq and NYSE by more than $100 million for the day. However, it's essential to note that Nasdaq and NYSE still handle the real weight of the US stock market, with ordinary share volume running into hundreds of billions of dollars on active days.
The supply figures show that Solana's tokenized equity supply reached $684 million around September 13, up 47% in three weeks. The number of holder addresses also rose from 424,894 at the start of September to 801,439 by September 12, nearly doubling in less than two weeks.
The growth is partly due to Pump.fun's Custom Pairs feature, which allows small speculative tokens to trade directly against tokenized stocks. However, some of this growth can be attributed to trading machinery and speculation rather than long-term investors.