Solana Tokenized Equity Volume Beats Nasdaq, NYSE by $100M as Supply Hits $684M

• Solana tokenized equity supply hit a record $684 million, rising 47% in just three weeks
• Tokenized equity volume on Solana reportedly topped the comparable Nasdaq and NYSE tally by more than $100 million in a single session
• About 63% of Solana tokenized-stock trading happens outside normal US market hours, highlighting demand for 24/7 equity access

Solana’s stock market experiment is starting to look a lot less experimental. Tokenized equity volume on the network reportedly surpassed Nasdaq and NYSE tally by more than $100 million in a single session, while supply on Solana has climbed to a record $684 million. The more interesting part may be when traders are showing up. Most activity is happening while US exchanges are closed, giving Solana tokenized stocks something traditional markets still cannot fully offer.

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Solana Tokenized Stocks Push Further Into Equity Trading

Solana recorded more than $150 million in tokenized equity volume during the session, with over $100 million going through Raydium. The comparison with Nasdaq and NYSE is specific to tokenized-equity activity and not to total trading across the two exchanges, which remains vastly larger.

But numbers show this is becoming more than a one-day spike. The supply of tokenized stocks on Solana reached a record $684 million on September 11, up 47% in just three weeks. xStocks also crossed $800 million in assets under management, while products from Backpack Securities, Sunrise, and other issuers have expanded the number of equities available onchain.

Solana was already processing serious volume before the latest jump. A regulatory filing from DeFi Development Corp. shows the network settled $8.8 billion of tokenized equity volume in Q2, up 325% from $2.1 billion in the previous quarter. Its share of quarterly onchain equity volume climbed from 32% to 56%.

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Trading Is Moving Beyond Wall Street Hours

The strongest argument for tokenization may have little to do with beating Nasdaq or the NYSE on any particular day. Allium found that 63% of Solana’s tokenized-equity volume occurred while US exchanges were closed, with weekends alone accounting for 17%. Tokenized equities were also the largest real-world asset category by volume on Solana.

This suggests traders are using the market differently rather than simply moving the same trades onto a blockchain. Traditional exchanges have noticed. Nasdaq agreed last week to invest $100 million in Kraken parent Payward, expanding work on tokenized equities and always-on market infrastructure.

Solana has not replaced Wall Street. But with supply at $684 million and most trading happening after the closing bell, tokenized equities are beginning to build a market of their own.

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