DraftKings tokenized stock hits $39M volume on Solana
Solana (SOL)
Editor:
Eugene Serbin
Cryptobriefing.com reports that a tokenized version of DraftKings stock generated $39 million in trading volume within three hours of launching on Solana. Backpack Securities issued the DKNG token, which is fully backed 1:1 by actual shares held in custody. Holders can redeem tokens or transfer them into traditional brokerage accounts.
Daily volumes for tokenized stocks on the network have exceeded $600 million at points in 2026. By early September 2026, total tokenized equity supply on Solana reached approximately $684 million. The network captured over 95% of global on-chain tokenized equity DEX volume through mid-2026.
Backpack Securities launched its first tokenized equity with SpaceX shares in June 2026. The catalog has since expanded to include GoPro and Moderna, trading across Solana DEXs like Raydium and Jupiter. Traditional markets operate roughly six and a half hours per day, five days a week.
Tokenized equities on Solana trade 24/7 and settle near-instantly with low transaction costs. These tokens have begun outperforming memecoins in trading volume on the network. Ethereum has yet to capture meaningful tokenized equity activity despite positioning as the institutional chain.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 12 September 2026. Not the outlet's figures.
SOL is trading at $102.46 with a spot volume of $329,895,138 over the last 24 hours. The 24-hour buy ratio stands at 50.6%, indicating balanced activity, while the 1-hour ratio dropped to 31.3%. This short-term dip suggests immediate selling pressure, contrasting with the 4-hour ratio of 45.1%. Volume delta was negative for the hour and four hours, showing net outflows in the recent past. However, the 24-hour volume delta was positive at $3,727,941, indicating net buying over the full day. Cumulative volume delta closed at +$559,991, confirming that buyers dominated the day despite recent weakness.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 49.3%, making the current 24-hour ratio of 50.6% slightly higher by 1.2 points. Daily volume was 1.51 times the weekly average, marking an unusually active day for the coin. Net buying occurred on 3 of the 7 days, with 12 of 24 hours seeing net buying today. The 8-day price change was +0.5%, while the total volume delta for that period was -$11,959,593. This indicates that despite higher volume today, the broader trend has seen more selling than buying over the week.