Solana tokenized stock trading hits $657 million, Backpack drives 91% of volume

Solana ‘s blockchain-based equity market registered a significant increase in activity with $657 million in trading volume recorded on November 2. This marks the network’s most robust daily performance since June and highlights the ongoing expansion of tokenized equity trading on Solana. Backpack Securities, a digital asset company focused on tokenized stocks, played a pivotal role in driving this activity. Data released by Solana’s official account and reported on November 4 show that Backpack was responsible for $598 million of November 2’s total volume, representing approximately 91% of all transactions on the day. This concentration is especially striking given Solana’s support for multiple tokenized securities providers such as Ondo Finance, Securitize, and xStocks. Despite a diversity of platforms in the ecosystem, Backpack has maintained a dominant presence.

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