Solana Tokenized Grinder Records $31 Million in Trading Volume

The tokenized grinder (GRND) traded on Solana recorded a trading volume of $31 million within the first 24 hours of its launch. However, caution is needed when making direct comparisons with the New York Stock Exchange (NYSE). According to CryptoBriefing, GRND has surpassed $31 million in trading volume since its launch on September 10, while the trading volume for grinder stocks on the same day at the NYSE was approximately $16.6 million. Backpack announced that GRND is available on Solana, explaining that the token can be converted 1:1 with traditional grinder stocks. GRND can be converted into underlying stocks through Backpack Exchange and can also be used across various services within the Solana ecosystem. While NYSE stocks are traded during set hours, GRND can be traded 24/7. When comparing trading volumes, the same time period must be applied, and the method of calculating trading volumes may differ. The actual trading volume for grinder stocks was recorded at 1.98 million shares on September 9 and 1.3 million shares on September 10. Solana announced on September 11 that the supply of tokenized stocks reached a record high of $684 million. However, due to differing criteria for aggregating trading volumes and supply, simple comparisons are difficult. Additionally, the availability for U.S. investors, as well as the granting of voting rights and dividends, may vary by product.

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