Solana remained the leading venue for tokenized-equity trading in 2026 as its market recorded $200 million in volume on September 12, supply reached $684 million the following day, and Backed Finance’s xStocks processed more than $1 billion on decentralized exchanges over 30 days. Raydium handled about 70% of Solana’s September 12 volume and roughly 75% of xStocks flows, while Solana accounted for 85% to 95% of global on-chain tokenized-equity activity throughout 2026. The market had 727,000 Solana holders, grew 47% in three weeks, and generated 63% of its volume outside standard U.S. market hours. xStocks’ SPYx led activity, and its September 14 launch of Kamino vaults for SPYx, QQQx and NVDAx expanded the ecosystem’s decentralized-finance utility.