The xStocks stock Token launched by Backed has a daily volume of $1.338 million.

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According to Wu, data from @defioasis shows that after being supported by Bybit and Kraken, the trading volume of xStocks stock tokens launched by Backed reached 1.338 million USD on June 30, with over 1,200 independent trading users and more than 2,500 transactions. Notably, although xStocks offers trading for 61 stocks, currently only 6 stock tokens have on-chain trading volume, namely NVDA, MSTR, TSLA, CRCL, SPY, and AAPL. In addition, the default total amount of xStocks stock tokens is 6,000, with minting and freezing permissions; Backed acts as the tokenization issuer, but the Broker and Custodian services are provided by third parties, including Alpaca Securities LLC, InCore Bank AG, and Maerki Baumann & Co. AG; the on-chain liquidity of major stock tokens is relatively shallow, and exchanges may become the main battlefield for liquidity in the future.

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