Solana has overtaken Robinhood Chain to become the second-largest blockchain for tokenized-stock holders, according to Token Terminal data on Oct. 21.
About 1.5 million addresses on Solana hold tokenized stocks, 28.3% of the 5.3 million total across 18 chains. Robinhood Chain, the Arbitrum-based network Robinhood launched on mainnet on July 1, has roughly the same rounded figure but a 27.9% share.
BNB Chain, home to Binance’s bStocks, leads with about 2.0 million holders, or 37.1%.
The lead changed in under a month. As of late September, Token Terminal counted about 997,000 holders on Solana and 1.3 million on Robinhood Chain, The Defiant reported at the time.
Token Terminal counts token balances, not distinct investors, so one person holding several tokenized stocks can appear more than once.
Robinhood Chain’s holder count far outstrips its asset base
Holder counts and value tell different stories. Tokenized stocks on Solana are worth $1.1 billion, about 24% of the $4.4 billion market. Robinhood Chain hosts $148.6 million, or 3.4%. That works out to roughly $730 per holder on Solana and about $100 on Robinhood Chain.
Solana’s tokenized stocks come mainly from xStocks, Ondo and Superstate’s Opening Bell. Robinhood Chain carries Robinhood’s own tokens, while BNB Chain is dominated by Binance’s bStocks.
Base ranks fourth by holders with about 160,200, ahead of X Layer at 97,400 and Ethereum at 78,800. By value, Ethereum ranks third, with $841.3 million in tokenized stocks.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.