Securitize’s tokenized stock value halves as Circle widens lead

SECZ’s onchain market cap fell to $208.6 million as Circle-linked tokens reached a combined $383.6 million across several issuers in the $3.3 billion tokenized equities market.The value of tokenized shares of Securitize (SECZ) have lost more than half their value in less than a month as the gap with market leader Circle (CRCL) widens.The market capitalization of SECZ tokens fell from a high of $430.4 million on Sept. 28 to $208.6 million by Sunday, according to Token Terminal. The NYSE-traded shares closed Friday down 2.1% at $7.80 apiece, with a market cap of $1.27 billion.Tokens tracking Circle’s shares have gained about 20% in market value since Sept. 28 to reach $383.6 million, reclaiming the top spot in the $3.3 billion tokenized stock market.Tokenized stock market capitalization by underlying stock, excluding ETFs. Source: Token TerminalThe decline in tokenized SECZ coincided with a sell-off in Securitize’s underlying shares on the NYSE, which erased gains that followed the Oct. 8 launch of its stock trading platform on Solana. Citi downgraded SECZ from Buy to Neutral on Oct. 13 amid concerns about tokenization revenue.Securitize helps asset managers including BlackRock issue...