Tokenized stock trading volume hits $1.11B as tech stocks plunge

Tokenized stock trading volume reached $1.11 billion over the past 24 hours on Thursday as a sharp selloff in technology and semiconductor stocks spread across traditional and blockchain markets.

According to Castle Labs data sourced from CoinGecko, trading activity increased approximately 4.7% from $1.06 billion in the previous daily snapshot, with 250 tokenized stocks representing a combined market value of $2.92 billion.

SanDisk recorded the largest trading volume among individual tokenized stocks, with its bStocks token generating $79.7 million over 24 hours, up approximately 62% from $49.1 million in the previous snapshot, according to the Castle Labs figures.

Other heavily traded assets included tokenized SpaceX shares with $38.9 million, Circle with $32.5 million, Alphabet with $31.8 million, Nvidia’s Robinhood token with $28.1 million, and Micron’s bStocks token with $27.5 million.

The increase coincided with a broad selloff in semiconductor and AI infrastructure stocks. SanDisk plunged more than 17%, Micron declined over 12%, Nvidia fell approximately 6.5%, and AMD lost more than 13% during Thursday’s session.

At the issuer level, bStocks led trading activity with $616.6 million in volume, up 3.7% from the previous snapshot. Robinhood recorded a larger increase of 24.6%, reaching $244.6 million.

Ondo Global Markets generated $136.2 million in trading volume, up approximately 4.6%, while xStocks declined 2.6% to $136.4 million, the data showed.

The figures reflect rolling 24 hour trading volumes captured in successive daily snapshots rather than identical trading sessions.

The broader technology selloff followed Democrats’ victory in both chambers of Congress on Tuesday, which raised concerns about potential restrictions on AI infrastructure development and data center construction.

According to Reuters, UBS analysts estimated that approximately 30% of expected US data center capacity additions in 2028 could face delays from potential construction pauses.

Activity in blockchain equity derivatives was even larger. TradeXYZ’s 109 stock, ETF and index perpetual futures markets on Hyperliquid generated $4.12 billion in trading volume over 24 hours, with $3.22 billion in open interest, according to Castle Labs data sourced from the Hyperliquid API.

Unlike spot tokenized stocks, these perpetual futures provide leveraged exposure to equity prices without ownership of the underlying shares.