Solana Captures 65% of Tokenized Equities Trading Volume

Solana handled 65% of all tokenized equities trading volume on a single day this week, giving the network a commanding lead in blockchain-based stock markets. The result represents 85% more volume than every other blockchain combined, although recent data shows rivals are beginning to narrow the gap.

Solana’s Tokenized Equity Lead

Tokenized equities are blockchain-based assets designed to track the price of publicly traded stocks. Unlike conventional shares, these tokens can trade around the clock, settle rapidly, and connect to decentralized exchanges (DEXs) operated by smart contracts rather than a centralized market operator.

Solana’s lead has been especially pronounced in DEX activity. During the second quarter of 2026, the network accounted for between 95% and 97% of global DEX tokenized equity volume. Trading on Solana DEXs reached $5.8 billion during the quarter, a 114% increase from the previous quarter.

Key activity measures include:

• Cumulative tokenized stock volume surpassed $10 billion by late June.
• Year-to-date Solana DEX volume reached $12.4 billion by early October.
• On September 12, the network processed more than $200 million in tokenized equity trades.
• Raydium handled an estimated 63% to 70% of Solana’s tokenized equity activity.

On September 12, Solana’s daily volume exceeded the combined tokenized equity volume associated with Nasdaq and the New York Stock Exchange by more than $100 million. Tokenized equity supply on the network also reached an all-time high of $684 million in mid-September, up 47% in three weeks. Wallet holders numbered between 727,000 and 850,000, depending on the tracking source.

Competition Moves In

The market’s activity is not limited to standard U.S. trading hours. Through August, approximately 63% of Solana’s tokenized equity trading occurred outside those hours, highlighting demand for continuous access to stock-linked assets. Across all chains, recent weekly volumes approached $3 billion.

However, Solana’s share has fluctuated as new venues attract liquidity. Near the end of September, its market share fell to roughly 35%, while Robinhood Chain moved ahead with approximately 39%. The shift suggests that Solana’s early dominance does not guarantee lasting control as competing networks develop dedicated tokenized-equity infrastructure.

What This Means

The figures reinforce Solana’s position as a leading venue for on-chain equity trading and show that tokenized stocks are developing into a substantial market category rather than a niche experiment. High after-hours activity, growing wallet participation, and billions of dollars in quarterly volume point to demand for more continuous and programmable access to traditional assets.

At the same time, the decline from near-total DEX dominance to roughly one-third of overall market share underscores the importance of liquidity, distribution, and regulatory access. Solana currently benefits from deep DEX activity and established venues such as Raydium, but sustained leadership will depend on retaining traders as Robinhood Chain and other competitors scale.