Solana has become the second-largest blockchain for tokenized-stock holders, surpassing Robinhood Chain, according to Token Terminal data from October 21. While both blockchains host a similar number of tokenized stock holders, Solana demonstrates a significantly higher value per holder, indicating a different dynamic in its tokenized stock market.
On October 21, Solana recorded approximately 1.5 million addresses holding tokenized stocks, representing 28.3% of the total across 18 tracked chains. This positions Solana behind BNB Chain, which leads with about 2.0 million holders (37.1% of the total). Robinhood Chain, launched on mainnet on July 1, has a rounded figure of approximately 1.5 million holders, accounting for 27.9% of the total.
This marks a notable shift from late September, when Robinhood Chain held more tokenized stock holders than Solana. At that time, Token Terminal data showed approximately 997,000 holders on Solana and 1.3 million on Robinhood Chain, as reported by The Defiant.
The distinction between holder counts and market value is crucial. Tokenized stocks on Solana are valued at approximately $1.1 billion, making up 24% of the total market value of $4.4 billion across the analyzed chains. In contrast, tokenized stocks on Robinhood Chain are valued at $148.6 million, representing 3.4% of the total market value.
This disparity in market value, when compared to holder numbers, results in a significantly higher average value per holder on Solana. On average, tokenized stock holders on Solana hold approximately $730 worth of assets, whereas holders on Robinhood Chain average around $100.
Solana’s tokenized stock market is primarily driven by projects such as xStocks, Ondo, and Superstate’s Opening Bell. Robinhood Chain’s tokenized stock holdings are predominantly its own native tokens, while BNB Chain’s holdings are largely dominated by Binance’s bStocks.
Other blockchains also show activity in the tokenized stock space. Base ranks fourth with about 160,200 holders, followed by X Layer with 97,400 holders, and Ethereum with 78,800 holders. By market value, Ethereum ranks third, with tokenized stocks valued at $841.3 million.
It is important to note that Token Terminal’s data counts token balances, not necessarily distinct investors. this may indicate that an individual holding multiple tokenized stocks could be counted more than once. The exact number of unique investors on each chain remains an uncertainty.
The data highlights that holder counts and market value can tell different stories. While BNB Chain leads in the sheer number of tokenized stock holders, Solana’s platform is attracting a higher value of assets per holder, suggesting different market dynamics and user engagement patterns across these blockchains.
Why This Matters
The materials describe a narrow update: Solana now has approximately 1. The exact number of distinct investors on each chain, as Token Terminal counts token balances.
Broader Context
Source materials place the factual news in this context: Solana has overtaken Robinhood Chain to become the second-largest blockchain for tokenized-stock holders, according to Token Terminal data on Oct. 21.
