Trading volume surged 147%, yet revenue fell 12%—the tokenization hype hasn’t turned into money just yet. On October 13, Citi downgraded Securitize from Buy to Neutral, but raised its price target from $10 to $14. It’s not bearish on the sector; it’s concerned that the stock has run up too quickly and that the lockup expiration is approaching. No one can say for sure how much tokenization will actually generate in revenue. In the second quarter, the company had $4.3 billion in tokenized assets and $5.3 billion in trading volume, but tokenization revenue was just $7.8 million. Its full-year guidance was lowered to $70 million–$80 million. Volume is soaring, but the money hasn’t caught up: is this a chance to get in, or a valuation trap? If you’re bullish, reply 1; if bearish, reply 2
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(Source: CryptoBriefing)
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