A growing number of investors are acquiring tokenized versions of traditional stocks and equities. TSLAx, tied to the value of TSLA, the publicly traded stock of Tesla, an automobile company founded by U.S. entrepreneur Elon Musk, is among the early success stories, attracting over 10,000 investors within four months.
Tokenized stocks are digital representations or blockchain versions of company shares. These tokens are backed 1:1 by the actual stocks and held by a licensed custodian, allowing investors to gain access to traditional stocks through crypto wallets and centralized exchanges. Moreover, they allow 24/7 trading and global accessibility.
According to a recent X social media post by the official xStocksFi account, over 14,000 people now hold tokenized shares of Tesla (TSLA), with the total value of these positions worth approximately $25 million.
TSLA is one of the world’s most recognized and frequently traded stocks, and it has maintained its fame from traditional exchanges to the blockchain market. Data from CoinMarketCap reveals that following TSLAx’s launch on the Solana blockchain on June 30, the stock has risen by over 40%, moving from $303 to $431 per share at press time.
Source: CoinMarketCap
Notably, the massive investor activity on TSLAx underscores increasing interest in tokenized assets. As a result, many renowned crypto exchanges are seeking regulatory approval to list tokenized stocks for trading on their platforms.
The U.S. major stock exchange, Nasdaq, does not want to be left out of the adoption of tokenized stocks. Thus, it has filed with the Securities and Exchange Commission (SEC) to allow it to list tokenized securities, including stocks and ETFs, alongside traditional ones on its main market.
This would allow investors to decide whether to purchase the conventional stocks or invest in the tokenized stocks, which they can trade 24/7.
Meanwhile, a Nasdaq-listed company, Antalpha Holdings, recently purchased $134 million of tokenized Tether Gold, XAU₮.
The post Over 14k Investors Hold Tokenized TSLA Stock Worth $25M on Solana appeared first on CoinTab News.



Highlights: The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand. The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones. The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand. On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks. BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity. On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1. BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand. The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones. BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark. Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.