Securitize (SECZ) tokenized stock market capitalization collapsed to $208.6 million, a 51.5 percent loss in less than a month from a Sept. 28 high of $430.4 million.
Circle-linked tokens now command a combined $383.6 million across multiple issuers, up approximately 20 percent since Sept. 28 and reclaiming the top position in the tokenized equity space. The overall tokenized equities market, excluding ETFs, stands at $3.3 billion.
The timing is notable: the SECZ token crash coincided with a sell-off of Securitize's underlying NYSE shares, which closed Friday at $7.80, down 2.1 percent, and a Citi downgrade from Buy to Neutral on Oct. 13 citing concerns about the company's tokenization revenue. The NYSE decline erased gains following the Oct. 8 launch of Securitize's stock trading platform on Solana.
Securitize brought its own common shares on-chain when it listed on the NYSE on July 2. At that time, it was the largest tokenized equity. Circle's current lead stems from aggregated value distributed across several issuers, with Binance's CRCLb on BNB Chain leading at $154.1 million.
Securitize continues to facilitate asset managers, including BlackRock, in issuing securities on blockchains.
