The Year Tokenization Went Mainstream

What's inside

• Both retail waves replayed from the chain records: xStocks took a year to reach ~150,000 on-chain events a day, Robinhood crossed 2 million in two weeks

• The whole tokenized market measured from the contracts — 179 product-legs across eight chains, valued as on-chain supply × issuer NAV rather than tracker AUM

• Why the same dollars produce 23× the events, and what that does to reporting, reconciliation, and pricing at retail scale

• 443 ticker-weekends of price discovery: the late-weekend token price called the direction of Monday’s open 84% of the time, beating Friday’s close by 2.6×

Written for product, engineering, and strategy leaders at brokers, asset managers, exchanges, and fintechs.