The market capitalization of tokenized stocks reached a new high of $2.3 billion, and major platforms set several historical records on the same day

According to Token Terminal data, the tokenized stock market reached a record $2.3 billion in mid-July, nearly doubling from when it first surpassed $1 billion in March. On July 21, Ondo Finance's tokenized share circulation (5145 million shares) and number of holders (93,880), Backed Finance tokenized market capitalization (US$579.4 million), and number of Robinhood Chain tokenized shares (126,720 shares) and number of holders (36,170) all reached record highs.

Arcus, a tokenized stock exchange launched by the dYdX team, recorded a new high of $11.9 million in daily perpetual contract trading volume and $6.8 million in open positions on the same day. By chain, Ethereum accounts for 34% of the tokenized stock market share, BNB Chain accounts for 30%, and Solana accounts for 23%. Ondo Finance leads the chain with $955 million in on-chain shares. Recently, it cooperated with Japan's SBI Group to tokenize Japanese stocks and launch 24/7 minting, redemption and voting rights functions. The cumulative trading volume of xStocks exceeded $25 billion in eight months of launch. Ondo executives previously expected the tokenized stock market to reach $25 billion to $30 billion by the end of the year.