xStocks · 120

Data: The number of tokenized stock holders doubled to 1.31 million in the past month, and transfers soared 179% to $23.13 billion

Comparing news, according to Cointelegraph, RWA.xyz data shows that in the past month, the number of tokenized stock holders has more than doubled to 1.31 million. Over the same period, monthly transfers surged nearly 180% to $23.13 billion, while the number of monthly active addresses increased by 34.62% to nearly 57.2 million. The total value of tokenized shares also increased by 5.9% to $2.38 billion. Ondo led the market with a value of around $872 million, followed by Kraken's xStocks ($557.8 million) and Binance's bStocks ($521.8 million). The largest single tokenized assets include Securitize ($145.2 million), Strategy PP Variable xStock ($135.6 million), and Ondo's tokenized Circle shares ($99.7 million).

6d ago

Binance Study: Gen Z Prefers ETFs, Trading Frequency and Leverage Usage Lower Than Other Age Groups

Comparatively, Binance research data shows that Gen Z investors are gradually switching to long-term asset allocation tools such as ETFs. Compared to millennials, Gen X, and baby boomers, they trade less frequently and have weaker leverage preferences. According to the data, ETFs accounted for 25% of Gen Z users' stock trading volume in early August. In July, ETFs accounted for 21.9% of the net inflow of Gen Z stocks, up from 18.5% in June; the share of individual stock investment fell from 77% to 74.2% during the same period. Binance Research analyzed transactions such as direct stocks, tokenized stocks, and traditional financial perpetual contracts. According to the data, Gen Z is less active in trading in all three types of assets than other working-age groups. Among them, Gen Z traditional financial perpetual contract accounts traded an average of 13 times per month, lower than the 17 times for millennials and 16.5 times for Gen X. In direct stock accounts, 22% of Gen Z users have never sold shares, up from 19% of Gen X and 9% of Baby Boomers. Among the accounts that Gen Z bought but did not sell, the assets with the highest cumulative purchase amount include Broadcom (Broadcom), Tesla, and Schwab US high-dividend stock ETFs. When it comes to leveraged products, Gen Z representatives are showing a lower risk appetite. According to the data, 88.2% of Gen Z traditional financial perpetual contract accounts have never traded leveraged or reverse ETFs, higher than 84.5% of Millennials and 85.9% of Gen X. Furthermore, the tokenized stock market continues to expand. According to the data, bStocks launched by Binance recently briefly surpassed Kraken's xStocks to become the second largest tokenized stock issuance platform in the world. As of the latest data, Ondo Finance ranked first with around $972 million worth of tokenized shares, xStocks and bStocks at around $611 million and $580 million, respectively.

7d ago

X Layer accounts for 80% of XStocksFi's trading volume, leading the way for two consecutive weeks

Comparing news, X Layer's share of the full chain trading volume of the tokenized stock platform xStocksFi has exceeded 80%, maintaining the lead for two consecutive weeks. OKX CEO Star said that assets will naturally flow to places with liquidity, users, and applications. The growth of xStocks on X Layer is only an early example. Tokenized stocks are only the starting point, and a more complete on-chain financial market will be built in the future. X Layer is accelerating the RWA ecosystem layout.

11d ago

Strong team up? xStocks posted an article which suspected that it would soon reach a partnership with Hyperliquid

According to Twitter news, recently, the official xStocks account suddenly posted “hyperliquid” on the X platform. Coupled with the news that the developer behind it, Backed, has spent about 5,006 HYPE over the past few weeks to take over 10 in-stock tickers, including NVDAX, SpyX, and qqQx, the community speculates that xStocks-related assets may land on the Hyperliquid platform.

13d ago

Kraken parent company Payward grants xStocks holders proxy voting rights

Comparing news, Kraken's parent company Payward announced major adjustments in how it participates in tokenized stock corporate governance. Previously, xStocks holders did not have any voting rights for the underlying stocks. Through cooperation with investor communication service giant Broadridge, qualified investors can now submit proxy voting preferences. Payward Chief Commercial Officer Mark Greenberg said, “The ultimate goal of tokenization has never been to just build a faster programmable capital market, but to give people around the world all the rights attached to holding shares in a company, including voice over how the company operates. xStocks are issued by Backed and are currently open to qualified investors outside of the US. Broadridge provides digital asset infrastructure such as proxy voting, post-transaction services, wallets, and escrow. Payward cooperated with fintech infrastructure provider GTN last month to expand xStocks products to Hong Kong-listed stocks, and plans to later cover international markets such as the UK, Europe and South Korea. Payward said that the cumulative trading volume of xStocks since it went live last year has surpassed $25 billion.

17d ago

Broadridge Partners with Payward Services to Provide Shareholder Communications and Proxy Voting Support for xStocks Tokenized Stock Holders

Comparatively, the fintech company Broadridge reached a partnership with Payward Services, a B2B infrastructure platform owned by Kraken, to connect its unified governance platform to xStocks, a tokenized stock framework developed by the latter, to provide shareholder communication and proxy voting support for eligible xStocks holders, enabling token holders to participate in the corporate governance voting of the companies they have invested in for the first time. According to the announcement, the main functions include eligible holders to log in to ProxyVote.com through Web3 authentication, digitally receive proxy materials and communication information with shareholders, submit proxy voting intentions for tokenized securities supported by xStocks, etc., and obtain a consistent governance experience between traditional securities and mainstream tokenization models. Additionally, the service is based on Broadridge's proxy voting infrastructure and has institutional-level governance, reporting, and auditability capabilities. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

17d agoburnking

Coinbase plummets: in a bear market, “universal exchanges” are also difficult to handle

In the US market on July 31, Coinbase's stock price closed down about 10.6%. At one point in the intraday period, it fell to $139.17, a drop of more than 12%. For a cryptographic concept stock that has always been highly volatile, this kind of market is no stranger. But the signal from this sell-off is clear: it is difficult for a strong, compliant exchange like Coinbase to make steady profits in a bear market. Not only was the loss for the second quarter, Coinbase's total revenue was about US$1.22 billion, down 19% year on year; net loss was US$359.5 million, or US$1.36 per share, which was significantly worse than analysts' expectations. Adjusted EBITDA fell to US$208 million, down nearly 60% from the same period last year. Of this loss, about US$210 million came from valuation losses on the company's crypto holdings, and an additional $52.4 million in restructuring expenses. Looking at these numbers alone, it seems like the problem can be attributed to one-off projects. But what is more alarming is the main business itself: transaction revenue fell 21% year over year to US$599 million, and subscription and service revenue also fell 12.2% to US$555 million. The reason is not complicated. As currency prices fall and volatility shrinks, user transaction frequency declines, Coinbase's most important fee revenue is naturally under pressure. In a bull market, trading volume, currency prices, and position returns can go up at the same time; in a bear market, they also go down together. This makes Coinbase still look like a “crypto cycle stock” with operating leverage added. The slogan “Universal Exchange” is beginning to show results. Of course, Coinbase is also changing. The management wants to expand the platform from a cryptocurrency exchange to a “universal exchange” where stocks, derivatives, predictive contracts, and tokenized assets can be traded. In the second quarter, the company's market share in crypto trading volume rose from 9.1% to 10.3%, a record high for the third consecutive quarter; the subscription and service business accounted for 48% of net revenue; and the average USDC balance within the platform reached $20 billion. What is more noteworthy is the forecasting market. Its contract volume and revenue increased 106% month-on-month, and annualized revenue exceeded 100 million US dollars. Coinbase also emphasized that 88% of net revenue no longer comes from Bitcoin spot trading. This figure shows that the revenue structure is indeed richer than in the past, but it cannot simply be understood as having broken out of the crypto cycle. Other token transactions, stablecoin interest, staking, escrow, and crypto derivatives will still be affected by currency prices, interest rates, and on-chain activity. The simultaneous decline in subscription and service revenue in the second quarter indicates that this level of connection still exists. This is why Bernstein continues to be bullish. The agency maintains a “outperforming the market” rating and a target price of $330, and believes that in the current market environment, extending to stablecoins, payments, perpetual contracts, predictive markets, and tokenized assets is Coinbase's most reasonable strategy. The problem is that the right direction doesn't mean you're already ahead. Forecast market: The rapid growth, but the gap is large. Coinbase's forecasted market revenue exceeds $100 million per annum, indicating that the business has come out of the early stages of testing. However, after a horizontal comparison, this number is less impressive. Robinhood's second-quarter incident contract revenue reached US$156 million, including $17 million in Rothera-related revenue. If it is simply annualized on a quarterly basis, the scale is about 624 million US dollars, which is about six times the current level of Coinbase; the event contract volume reached 13.6 billion, and Rothera contributed about 2.1 billion shares. More importantly, Robinhood has been extended to trading and clearing infrastructure through the associated Rothera exchange. Judging from the available data, it is temporarily ahead of Coinbase regardless of revenue scale, turnover, or infrastructure participation. Bernstein is optimistic about Coinbase's overall strategy, but admits that it has yet to become a prominent leader in any of these new tracks. The prediction market is the most typical example: Coinbase has proven that users are in demand, yet it hasn't proven that it can win. Tokenized assets, whether for the time being a forward check, tokenized business also needs to be viewed with caution. Coinbase announced in June that it will launch tokenized stocks backed by real stocks one-on-one to non-US customers, and has laid out perpetual stock and pre-IPO perpetual products. Judging from imaginative space, round-the-clock trading, on-chain settlement, and collateral lending may indeed change the way traditional securities are traded. However, as of the second quarter, the company did not separately disclose the trading volume and revenue of tokenized stocks. In other words, the business is currently more like a strategic layout than a pillar of growth that has already been realized. The competitor even went...

21d agoWendy#Coinbase #Robinhood #Exchanges #original #Financial reports

Data: Binance's stock token bStocks reached a record high of $6,123 billion in weekly trading volume

Comparing news, Dune data shows that the Binance stock token bStocks reached a record high of $6.123 billion in the past week, with an average of 99% of the trading volume concentrated in the NASDAQ 100 ETF stock token QQQ. Notably, since mid-July, the daily trading volume of bStocks has grown from 100 million US dollars to the level of 1 billion US dollars, mainly driven by QQQ. Furthermore, bStocks' total asset management (AUM) has reached approximately $680 million, surpassing xStocks' AUM of approximately $597 million.

23d ago

Binance bStocks surpasses xStocks with total asset management surpassing $590 million

Comparatively, according to Dune data, Binance bStocks's total asset management (AUM) has reached about US$599 million, surpassing xStocks' AUM of approximately US$589 million. According to the data, bStocks has further expanded the scale of the on-chain stock asset circuit, showing continued growth in market demand and user participation.

24d ago

The average daily trading volume of Robinhood Chain tokenized stock DEX surpasses Solana's two major platforms, and meme coin pairs drive growth

According to Dune panel data maintained by the OKX Web3 wallet team, the average daily trading volume of Robinhood Chain's tokenized stock DEX reached 29.7 million US dollars over the past 7 days, which is more than the sum of xStocks ($11.1 million) and Backpack Sunrise ($13.4 million) on Solana. The main reason for the increase is that launch platforms such as Bankr and long.xyz have allowed users to issue memes with tokenized stocks as liquidity pairs since mid-July, covering more than 90 stock symbols. Meme coin transactions incidental to generating stock token trading volume, while locking stock tokens in liquidity pools. The most traded tokenized stock on the chain is Nvidia ($13.9 million in daily trading volume), followed by SpaceX ($6.2 million) and Apple ($4.5 million). Daily active tokenized stock traders peaked at over 20,000 in the week of July 20, the highest of all stock token platforms. However, Binance's bStocks average daily trading volume on BNB Chain reached $676.8 million, more than 20 times that of Robinhood. Tokenized stocks still only account for a small portion of Robinhood Chain's total DEX trading volume, and most on-chain activity is still dominated by memes such as CASHCAT.

24d ago