Token Terminal expanded coverage on Sept. 4 to include five Backpack-issued tokenized stocks on Solana: MicroStrategy (MSTR), NBIS, Eli Lilly (LLY), Moderna (MRNA) and Marvell Technology (MRVL).
The five tokens carry a combined market capitalization of $1.7 million. MRNA and LLY lead in holder distribution, with 1,200 and 1,100 holders respectively.
Each Backpack token is backed 1:1 by the underlying equity, held in a Backpack Securities brokerage account. Token holders can redeem for the actual shares and transfer them to traditional brokerages via ACATS.
The structure enables 24/7 trading independent of exchange hours—a material advantage for assets like MRNA, where clinical trial announcements can move prices outside regular trading windows.
This expansion follows Backpack's SpaceX tokenization launch, which generated $1.04 billion in weekly volume on Solana. Backpack-issued tokens now represent over 50 percent of weekly tokenized equity volume on Solana despite comprising only 5 percent of total RWA supply on-chain.
Token Terminal also added 145 new RWA deployments from Backpack, Anchored Finance and xStocks, bringing its tracked tokenized assets to over 4,600.
