Volume held, participants did not: trading listings fall from 187 to 111
Volume held roughly flat over the week while the number of listings that traded fell from 187 to 111. Three tickers accounted for half of it.
The board on Robinhood Chain lists 196 tokenised equities. In the last 24 hours, 111 of them traded at least $1.0k. The other 85 did not, which is the normal state of affairs and has been every week we have counted. Total volume across everything was $331.9m, and the tokens on the chain are worth $146.4m in total.
The week's real story is the count of things that moved. Our own record of the board had 187 listings trading on 1 September against 111 today, with 24-hour volume near enough flat over the same stretch: $362.3m then, $332.5m now. Three quarters of the money stayed and a third of the participants left. That is a market getting narrower rather than smaller, and the two are worth telling apart.
Three tickers, half the money
AMC, SPY and NVDA together did $166.7m, or 50 percent of all 24-hour volume. AMC alone did $76.8m, SPY $46.2m, NVDA $43.7m. Behind them, SPCX, the SpaceX listing, did $16.9m and Tesla $16.6m. After the top five the numbers fall away fast, and the floor for counting as active at all is $1.0k in a day, which is not a number that suggests a crowd.
AMC is doing two things at once. It is the most-traded listing on the chain and it is also the second-worst seven-day price move, down 87.3 percent. Volume is not endorsement. The worst move of the week was WYFI, WhiteFiber, at -88.5 percent, followed by AMC, then Everpure at -76.7 percent, Nano Nuclear Energy at -28.8 percent and Lululemon at -22.0 percent.
What went up
Bloom Energy led the week at +30.3 percent, then Sandisk at +20.1 percent, Circle Internet Group at +18.4 percent, Red Cat at +14.8 percent and Strategy Inc. at +14.2 percent. All seven-day figures here cover listings that actually traded. The 85 quiet listings are excluded, because a token nobody has bought can print any percentage you like off a stale quote and it means nothing.
Two things the figures do not tell you. The $146.4m on-chain capitalisation is the value of the tokens on this chain, not of the companies behind them: the Apple listing here is worth millions, not trillions, and the same holds down the board. And a 50 percent concentration in three tickers means the headline volume number describes those three far more than it describes the other 108 that traded. Our daily record of the board runs to 13 days, so week-on-week comparisons are all we can make with it. If tokenised equities are new to you, the explainer is the place to start, and the full board is where these counts come from.
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