Tokenized stock trading surged 288% in July, but one QQQ token drove most of it
Without that QQQ token, QQQB, July volume for tokenized equities would be roughly $2.03 billion, about 30% below June’s total.
AI Summary
Tokenized stock trading volume surged 288% to a record $11.3 billion in July, but 82% of that came from a single Binance-linked token, QQQB, which tracks the Invesco QQQ ETF. Excluding QQQB, total volume would have been roughly $2.03 billion, about 30% below June’s implied total. The token’s growth was fueled by zero maker fees through August and a VIP volume multiplier program introduced on July 23.