On-chain U.S. stock holders
Up 159% in one month
RWA.xyz’s September data
Tokenized stock holders: 2.96 million
Market cap: $2.89 billion
But monthly transfer volume is cut in half -51%
Active addresses also -48%
Who’s doing it?
Ondo: 860 million
xStocks: 630 million
bStocks: 630 million
Robinhood: 130 million
In plain terms
More people are buying, but fewer are trading
Most are just holding
Or using it as collateral to borrow money
This week, Aave just started accepting U.S. stock tokens as collateral
Let’s see whether borrowing volume can pull transfer volume back up
Up 159% in one month
RWA.xyz’s September data
Tokenized stock holders: 2.96 million
Market cap: $2.89 billion
But monthly transfer volume is cut in half -51%
Active addresses also -48%
Who’s doing it?
Ondo: 860 million
xStocks: 630 million
bStocks: 630 million
Robinhood: 130 million
In plain terms
More people are buying, but fewer are trading
Most are just holding
Or using it as collateral to borrow money
This week, Aave just started accepting U.S. stock tokens as collateral
Let’s see whether borrowing volume can pull transfer volume back up