I just finished watching Backpack’s investor call, and then went back to look through Birdeye’s Q3 report.
After recalculating the numbers, I found a pretty striking figure: 188%!
What does that mean?
In Q2 2026, total trading volume for tokenized stocks on Solana was about $4.94 billion.
By Q3 (through September 22), it had grown to $5.76 billion, an increase of about 17%.
But when you look at Backpack on its own, things get really interesting:
Backpack’s trading volume over the same period surged 138%, from about $1.12 billion to $2.66 billion!
I took the calculation one step further:
The market as a whole added about $820 million in net trading volume, while Backpack alone added about $1.54 billion.
In other words, Backpack accounted for about 188% of the market’s net increase in trading volume!
Even more strikingly, Backpack only launched its stock business this June, and it has achieved these results in just a few months.
And the Q3 figures only run through September 22, while the comparison is against the entirety of Q2.
After seeing these numbers, I’m even more confident in the stock business growth plans discussed on Backpack’s investor call.
Achieving this scale in such a short time—and clearly outperforming the sector as a whole—is genuinely impressive.
Source: Birdeye Q3 2026 report. The figures cover on-chain trading of tokenized stocks on Solana. The 188% is an approximate figure I calculated based on the report’s data.
@Backpack_CN
Quote from @Miiiho420: Treat BP Holders like shareholders, and move forward with U.S. stock expansion and deeper account unification, with an IPO as the ultimate goal ✅
$SOL
After recalculating the numbers, I found a pretty striking figure: 188%!
What does that mean?
In Q2 2026, total trading volume for tokenized stocks on Solana was about $4.94 billion.
By Q3 (through September 22), it had grown to $5.76 billion, an increase of about 17%.
But when you look at Backpack on its own, things get really interesting:
Backpack’s trading volume over the same period surged 138%, from about $1.12 billion to $2.66 billion!
I took the calculation one step further:
The market as a whole added about $820 million in net trading volume, while Backpack alone added about $1.54 billion.
In other words, Backpack accounted for about 188% of the market’s net increase in trading volume!
Even more strikingly, Backpack only launched its stock business this June, and it has achieved these results in just a few months.
And the Q3 figures only run through September 22, while the comparison is against the entirety of Q2.
After seeing these numbers, I’m even more confident in the stock business growth plans discussed on Backpack’s investor call.
Achieving this scale in such a short time—and clearly outperforming the sector as a whole—is genuinely impressive.
Source: Birdeye Q3 2026 report. The figures cover on-chain trading of tokenized stocks on Solana. The 188% is an approximate figure I calculated based on the report’s data.
@Backpack_CN
Quote from @Miiiho420: Treat BP Holders like shareholders, and move forward with U.S. stock expansion and deeper account unification, with an IPO as the ultimate goal ✅
$SOL