'Crypto Stock' Platform xStocks Sees Explosive Post-Launch

The tokenization of real-world assets (RWA), especially stocks, is becoming one of the most compelling narratives, promising to build a bridge between the worlds of traditional finance and crypto. The latest evidence for the appeal of this trend comes from the impressive metrics of xStocks, a new stock tokenization platform created by Backed.

According to data from Dune recorded on July 3rd, just three days after its launch, the xStocks platform reached a total trading volume of $7.73 million. Notably, the report indicates that sales are on a continuous growth trend, showing increasing interest and adoption from the community. During the day, 14,560 trades were executed by 4,215 daily active users (DAU). While the DAU figure saw a slight decrease from the previous day, the high trading volume suggests that the remaining users are active traders with larger transaction values.

One of the most interesting points from this initial data is the type of assets being traded most frequently. The tokenized version of the S&P 500 index was the overwhelming leader, accounting for $4.25 million of the total volume. Following behind were other U.S. blue-chip stocks like Tesla and Circle.

This shows a clear trend: users in the crypto ecosystem are not just interested in altcoins or meme coins. They have a real demand for accessing traditional financial (TradFi) assets easily, efficiently, and 24/7 right on the blockchain. Instead of going through traditional brokers with various barriers, they can now trade leading global indices and stocks within the familiar DeFi environment.

The initial success of xStocks is a positive signal for the entire RWA sector. Developed by Backed, a company specializing in creating regulated and compliant tokenized products, xStocks offers users trust and security. Each token represents an actual share of stock and is fully collateralized, addressing transparency concerns compared to previous synthetic products. As more reliable bridges like xStocks are built between the two financial worlds, the potential to bring trillions of dollars of traditional assets on-chain is immense.