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The on-chain stock track has been quite active recently. The total market capitalization has already surpassed $1.2 billion, with two clear growth waves occurring in September and December of this year. This indicates that tokenized equity is moving from early small-scale experiments toward genuine large-scale expansion.
Let's look at what happened in September—Backed Finance launched the xStocks product on Ethereum, directly covering about 60 stocks. By integrating with mainstream exchanges for distribution, more users are able to access this type of product. This move marks the beginning of substantial growth momentum in the market.
December's growth is equally noteworthy. This sustained expansion is not a flash in the pan but reflects the gradual release of genuine market demand for tokenized equity. From product innovation to trading distribution and market cap scale, all aspects are advancing in sync.
I've seen that Backed move; covering 60 stocks is indeed quite ambitious. I'm just worried it might become another tool for cutting leeks.
If this track is really going to explode, is it still early to jump on now? Asking all the veterans here.
Tokenized equity has been popular for so long, why haven't we seen institutions entering on a large scale yet?
Two consecutive waves of growth are a good thing, but let's hope it's not just capital rotating in circles again.
Backed's move was indeed aggressive, launching 60 stocks all at once.
Finally, someone is making a splash with on-chain stocks. Looking forward to what comes next.
A continuous rally in September and December—this is the real cycle.
It feels like the era of tokenized equity has finally arrived, it's not a dream.
Backed's recent moves are indeed impressive, with 60 stocks being boosted all at once. I'm just worried it might be another hype.
Tokenized equity—real demand or just a concept hype? I want to see how it turns out next year.
Last year, there were a bunch of products like xStocks, but only a few truly survived.
Wait, can it really compare to the liquidity of traditional stock markets? I'm skeptical.
Backed's recent move is interesting, just not sure about the trading depth.
Honestly, I'm still a bit skeptical about whether it can sustain...
It's another "scaling expansion," we said the same last year.
Whether this round of growth continues or not depends on December's data.
xStocks covers 60 stocks? Feels still too few.
Backed's distribution strategy is good, but it needs to attract mainstream users to really take off.
Wait, is this institutional entry or retail traders speculating? The difference is huge.
The term "flash in the pan" is perfectly used here; I bet it won't last this time either.
Tokenized equity sounds impressive, but is the liquidity really there?
Tokenized stocks have always been loud but not impactful; let's see if they will rise again next year.
The Backed operation was indeed interesting, but there are many copycat coins.
If this track really takes off, it should have done so already. Talking about scaling now is a bit too optimistic.
We'll see when institutions actually step in; right now, it's all retail investors hyping themselves up.
I didn't see anything special in December's gains; maybe it's just year-end speculation.
On-chain stock concepts have been around for years, but it's still the same old story.
Has anyone really made money, or is this just another new scam?
Is this time different? I think it's just like the wave from a couple of years ago—here today, gone tomorrow.
The Backed move was indeed clever, directly deploying 60 stocks, which is about grabbing the narrative.
Will it really sustain or is it just another round of harvesting retail investors? Let's see.
Will xStocks become the next target to be delisted by exchanges...
Tokenized equity is going to be popular, so when will the institutions truly step in?
The wave of xStocks definitely has some potential, but are there really many people using it?
Can this growth be sustained, or is it just another round of hype?
Wait, why does the name Backed Finance sound so familiar...
As for on-chain stocks, honestly, it's still a bit redundant. Why not just trade real stocks directly?
Two waves of growth just to call it scaled expansion? That's a bit too optimistic.
Sustainable expansion? I'd like to see how it turns out next year, let's wait and see.