The onchain market capitalization of SECZ plummeted to $208.6 million while tokens tied to Circle hit an aggregate $383.6 million across multiple issuers within the broader $3.3 billion tokenized equities market.
Tokenized shares representing Securitize (SECZ) have shed over fifty percent of their value inside a month, widening the margin behind market frontrunner Circle (CRCL).
Data from Token Terminal shows that SECZ token market capitalization plunged from a peak of $430.4 million on September 28 down to $208.6 million by Sunday. Meanwhile, shares traded on the NYSE wrapped up Friday lower by 2.1% at $7.80 each, yielding a market valuation of $1.27 billion.
Conversely, tokens mirroring Circle shares expanded their market value by approximately 20% since September 28 to touch $383.6 million, reclaiming the leading position in the $3.3 billion tokenized equities sector.
Tokenized stock market capitalization by underlying stock, excluding ETFs. Source: Token Terminal
The contraction in tokenized SECZ correlated with a sell-off hitting Securitize’s primary stock on the NYSE, wiping out earlier upward momentum gained following the October 8 launch of its Solana-based stock trading venue. On October 13, Citi revised SECZ downward from Buy to Neutral due to anxieties surrounding tokenization income streams.
Securitize assists asset managers like BlackRock in deploying securities onto blockchains. The firm introduced its own common stock onchain concurrently with its July 2 NYSE debut, securing its place as the premier tokenized equity at that time.
Despite this, SECZ keeps its crown as the largest single tokenized stock because Circle’s total valuation is distributed among products from various issuers. Binance’s CRCLb operating on BNB Chain paces those alternative offerings with $154.1 million.
This article is published in alignment with Cointelegraph’s Editorial Policy and serves strictly informational goals. It is not financial advice or a solicitation for trades. Every investment and transaction involves risk, and readers ought to perform independent investigations.
Originally published at https://cointelegraph.com/markets/securitizes-tokenized-stock-circle-lead?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
