The tokenized equities market expanded sharply, with holder counts more than doubling to 1.31 million, monthly transfer volume rising roughly 180% to $23.13 billion and active addresses increasing 34.62% to approximately 572,000, according to RWA.xyz. Transfer volume over 30 days exceeded the sector’s total market capitalization, which was around $2.3 billion by mid-July 2026. SpaceX’s June 2026 IPO, which valued the company at $75 billion, helped drive record monthly onchain equity volume of $3.86 billion and appears to have attracted new participants. Distributed value rose 5.9% to approximately $2.38 billion, with Ondo at roughly $872 million, Kraken’s xStocks at approximately $558 million and Binance’s bStocks at around $522 million. Solana has become a preferred blockchain for several platforms, while round-the-clock trading offers an alternative to traditional U.S. equity-market hours. The market carries different regulatory, issuer and asset-structure risks, including the possibility that underlying exposures are synthetic. The concentration of distributed value among three platforms and the high transfer-to-market-cap ratio indicate substantial trading activity and potential fee revenue for those venues.