Token Terminal data for September 15 showed that xStocks tokenized stocks generated about $1 billion in cumulative DEX trading volume over the past 30 days. According to Odaily, Raydium accounted for about $805.2 million, or 80.5% of the market, while Byreal ranked second with about $107.9 million and Orca followed with about $72.5 million.

The article said on-chain trading activity in tokenized stocks has risen recently. It added that as more stock-like assets and liquidity move on-chain, DEXs are gradually becoming one of the main trading and liquidity venues for tokenized stocks.