Market commentator The Kobeissi Letter highlighted on Tuesday a record surge in tokenized stocks on Solana (CRYPTO: SOL), led by strong demand following Space Exploration Technologies Corp. (NASDAQ:SPCX)‘s blockbuster IPO.
SpaceX Accelerates Tokenization Push
Kobeissi Letter drew attention to $4.3 billion in on-chain volume of tokenized stocks over the last 30 days, citing data from asset tokenization analytics platform rwa.xyz. This marked the highest monthly volume ever, and a 140% year-to-date increase.
In fact, tokenized stocks on Solana pulled in over $100 million in spot trades for the first time on Friday, following SpaceX’s IPO.
“Solana dwarfed all other chains for tokenized SpaceX, with a peak of 99% volume share across all chains,” Kobeissi Letter noted.
The latest spike has pushed the cumulative transfer volume of tokenized stocks above $20 billion for the first time.
