Solana
Solana Captures Over $740 Million as Tokenized Stock Market Reaches Record High
Data from Token Terminal places Solana among the top three networks for tokenized equities alongside BNB Chain and Ethereum.
The tokenized stock sector reached a high of $3.9 billion in market capitalization on October 12, according to data compiled by Token Terminal. BNB Chain leads the space with roughly $1.2 billion, followed by Ethereum with $841.9 million and Solana with $741.7 million. Combined, these three blockchains control roughly $2.8 billion, representing about 71% of the total recorded capitalization.
This capitalization figure accounts for the value of outstanding tokens tracked on the platform rather than recent trading activity or net new capital. The expansion has enabled new decentralized applications, such as using tokenized equities as loan collateral for stablecoins and integrations by protocols including Aave and Ethena, while South Korea prepares legal standards for tokenized securities.
The article highlights that holding tokenized shares does not always confer equivalent rights to direct stock ownership, particularly voting entitlements. In structures such as those used by Coinbase, tokens represent certificates issued through a dedicated entity, with shares stored by brokerage firm Alpaca in segregated accounts and dividends automatically reinvested after deductions.
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