The number of holders of tokenized stocks on the Solana blockchain has reached a record level of 1.5 million people, a fivefold increase since August, even though SOL continues to struggle at around $100 after several weeks of pressure from sellers.
According to a Solana post from October 26, citing data from Blockworks, the number of addresses holding tokenized stocks on the network reached a new all-time high. However, the rapid growth has not led to a corresponding recovery in the price of SOL, which has fallen from around $124 at the beginning of October.
The discrepancy is partly explained by how tokenized stocks are traded and distributed. Most of the activity is tied to stablecoins, while Blockworks research shows that rewards in the form of tokens and memecoin trading have contributed significantly to the growth in the number of holders.
The number of tokenized stocks on Solana has reached record levels
Over the past few months, the Solana tokenized stock market has grown significantly, as more and more financial platforms adopt blockchain versions of traditional securities.
The Solana Foundation reported that in September, the number of tokenized stocks in wallets reached 1 million, trading volume amounted to approximately $4.4 billion, and the value of tokenized stocks in circulation reached $684 million.
Since September, another 500,000 addresses have begun holding tokenized stocks on Solana, although some investors may hold these assets in multiple wallets.
Blockworks defines holders of tokenized equity products as addresses containing these tokenized assets, meaning one investor may be counted more than once if they use multiple wallets.
