xStocks weekend DEX trading surges 23-fold to $55.2 million, driven by Raydium dominance

Background

Traditional stock trading follows business hours. US exchanges run on weekdays and close for weekends and holidays. When something significant breaks on a Saturday, conventional investors have to wait until Monday morning to act. xStocks is not the only player. It operates alongside bStocks on platforms such as Uniswap and PancakeSwap, which widens the set of venues where tokenized shares can change hands.

The Numbers Behind the Growth

The weekend jump is part of a broader acceleration. xStocks passed $1 billion in 30-day DEX volume by September 15, an increase of 1,011.8% month-over-month. The most traded assets on the platform break down like this: SPYx: $318.4 million CRCLx: $146.7 million NVDAx: $74.1 million AAPLx: $53 million SPCXx: $49.9 million

Tokenized Equities and Concentration Risk

Tokenized equities generated $3.96 billion in weekend DEX volume in September. That figure represents a 106x increase from the previous November. Total value locked (TVL) in tokenized equities grew from $21.6 million in January to $289 million by September. Concentration risk is the second thing to watch. With Raydium handling around 75% of activity, the health of xStocks trading depends heavily on one protocol.

Looking Ahead

Looking ahead, average monthly volumes for tokenized equities are projected to land between $7.9 billion and $18 billion by year-end.