Tokens tracking Securitize's shares (SECZ) saw onchain market cap fall from a high of $430.4 million on Sept. 28 to $208.6 million, while tokens tracking Circle (CRCL) gained about 20% since Sept. 28 to a combined $383.6 million, retaking the top spot in the $3.3 billion tokenized stock market. The decline coincided with a sell-off in SECZ's NYSE shares, which erased gains following the Oct. 8 launch of its stock trading platform on Solana. Citi downgraded SECZ from Buy to Neutral on Oct. 13 amid concerns about tokenization revenue. SECZ closed Friday down 2.1% at $7.80, a market cap of $1.27 billion. SECZ remains the largest individual tokenized stock, while Binance's CRCLb on BNB Chain leads Circle's offerings at $154.1 million.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Securitize’s tokenized stock value halves as Circle widens lead
Read the original on Cointelegraph ↗
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