Wu said that according to @ defioasis data, after being supported by Bybit and Kraken, the trading volume of xStocks stock token launched by Backed reached $1.338 million on June 30th, with over 1200 independent trading users and more than 2500 transactions. It is worth noting that although xStocks offers 61 stock trading options, currently only 6 stock tokens have on chain trading volume, namely NVDA MSTR TSLA CRCL SPY and AAPL. In addition, xStocks stock tokens have the ability to be minted and frozen; Backed serves as a tokenization issuer, but Broker and Custodian are serviced by third parties including Alpaca Securities LLC, InCore Bank AG, and Maerki Baumann&Co. AG; The on chain liquidity of major stock tokens is relatively shallow, and exchanges may become the main battlefield for liquidity in the future. https://(dune.com)/kucoinventures/xstocks