Solana's tokenized equity markets achieved a significant milestone on September 12, generating over $200 million in trading volume and surpassing the combined tokenized equity volume of NASDAQ and NYSE by more than $100 million. According to the Solana Foundation's September 13 weekly newsletter, 63% of the cumulative trading activity settled outside standard U.S. market hours - after the 4:00pm ET closing bell through the following morning's open. This volume represents a substantial increase from the $200 million+ daily volume reported earlier, demonstrating the rapid growth in on-chain stock trading. Raydium captured approximately 70% of this activity, functioning as the settlement backbone for the day and representing the primary source of liquidity behind the growth.
The tokenized equity momentum has intensified with VIDAx recording on-chain trading volume equal to roughly 1,258% of its volume on traditional stock exchanges over the past seven days, according to AMBCrypto analysis. VIDAx's on-chain volume was roughly 12.6x its traditional-market volume, demonstrating where traders are deliberately choosing to conduct their transactions. While VIDAx serves as the standout example, it represents part of a broader trend where multiple tokenized equities are experiencing breakout activity on Solana. This surge in on-chain trading volume represents a fundamental shift in how tokenized stocks are being traded, with 63% of tokenized equity trades settling after market hours according to the Solana Foundation newsletter.
The broader tokenized stock ecosystem has experienced explosive growth, with total value locked (TVL) in DeFi protocols climbing 1,961% over the past year to $247.8 million according to Token Terminal data published Thursday. Solana accounts for $87.4 million of this total, ranking second behind Robinhood Chain at $98.2 million and ahead of BNB Chain at $36.3 million. The three leading chains hold 89.5% of the total TVL between them, as reported by Token Terminal. Binance Research confirms this trend, noting that active DeFi TVL rose from $21.6 million in January to $289.1 million by September 9, with DeFi's share of the market increasing from 2.2% to 7.2% measured against its own active market cap.
SOL spot ETFs also finished the latest session in the green with almost $837K in net inflows, as reported by AMBCrypto. This positive ETF flow represents demand coming from two sides simultaneously - traditional investors and crypto-native traders. At the time of writing, Solana price was close to the $102 mark, representing a recovery from the high-$90s with a near neutral RSI. The Solana Foundation newsletter reported that Solana reclaimed the daily DEX volume lead over Robinhood Chain at $3.25 billion to $2.72 billion this week, extending beyond aggregate totals to show the volume is increasingly generated outside NYSE hours. However, the MACD remains below its signal line, indicating that recovery hasn't yet turned into sustained upside momentum.
Solana's tokenized equity market continues its rapid expansion, with tokenized equity supply reaching a record $684 million as of September 13, representing a 47% increase in just three weeks according to the Solana Foundation. The holder count has grown to 727,000 participants, while 128,000+ unique traders were active on September 12 alone as reported by @tokens. Multiple issuers have launched stock products on Solana, including xStocks, Ondo, Backpack Securities, Sunrise, Superstate, and Securitize. These platforms now offer over 100 different types of tokenized equities and ETFs, significantly widening the market beyond a handful of assets and creating conditions for increased trading volume. Several tokenized assets demonstrated strong performance, with $GRND via Backpack Securities clearing $31 million in its first 24 hours and 1-800-Flowers ($FLWS) listing via Backpack Securities posting $22.19 million in first-day volume on the same day.
