Solana’s tokenized equities volume share rises to 35%, closing in on Robinhood Chain

Solana now controls roughly 35% of the global tokenized equities trading volume, pulling within striking distance of Robinhood Chain’s 39% share. A few months ago, Solana owned virtually all of it. From monopoly to market fight Rewind to Q2 2026, and Solana was processing between 95% and 97% of all tokenized equity DEX volume globally. The network racked up $5.8B in volume during that quarter alone, powered by platforms like xStocks and Backpack Securities, with Raydium serving as the primary trading venue. The peak came in June, when the SpaceX IPO sent traders rushing to buy SPCX tokens on-chain. Single-day volumes on Solana hit as high as $644M during that frenzy, a record for tokenized stock trading on any blockchain. Robinhood Chain, a Layer 2 Ethereum solution, launched on July 1, 2026, with a straightforward pitch: tokenized US equities, familiar brand, and a clever liquidity strategy that paired tokenized stocks with memecoins to bootstrap trading activity. It worked. The platform quickly hit an average of $29.7M in daily tokenized stock DEX volume, at times surpassing Solana’s own venues. By late August, Solana’s share of the global tokenized equity market had cratered to ...