Securitize’s tokenized stock has lost more than half of its market value in under a month, shifting leadership in the tokenized equities segment back to Circle-linked products. Data cited in the report shows SECZ falling from a peak of $430.4 million on Sept. 28 to $208.6 million by Oct. 26.
Over the same period, Circle-linked tokenized stock products issued across multiple platforms climbed to a combined $383.6 million, putting them in first place in a tokenized stock market valued at about $3.3 billion.
Sharp decline follows late-September peak
The move in SECZ marks a steep reversal for a token that had been the largest name in tokenized equities after Securitize brought its own common shares onchain. From its Sept. 28 high, the token’s market capitalization fell by more than 50% in less than a month.
Even after that drop, SECZ remains the largest individual tokenized stock product. The change at the top came because Circle-linked exposure is distributed across several tokens from different issuers rather than concentrated in a single product.
Circle-linked products reclaim the top spot
The report says Circle-linked tokenized stocks reached a combined market value of $383.6 million by Oct. 26. That total was enough to overtake SECZ and retake the lead in the broader tokenized equity sector.
Among those products, Binance’s CRCLb on BNB Chain was the largest, with a market capitalization of $154.1 million. The article did not indicate that one Circle-linked token alone surpassed SECZ; instead, the lead came from the aggregate value of several related offerings.
Platform launch and downgrade coincided with sell-off
The decline in SECZ coincided with weakness in Securitize’s underlying NYSE-listed shares. According to the report, the sell-off followed the Oct. 8 launch of Securitize’s stock trading platform on Solana.
A further development came on Oct. 13, when Citi downgraded SECZ from Buy to Neutral. The reported reason was concern over tokenization revenue, adding to pressure during the period in which the token’s market value contracted sharply.
Background and what comes next
Securitize is known for helping asset managers, including BlackRock, issue securities on blockchains. It also put its own common shares onchain alongside its July 2 NYSE listing, a step that made SECZ the largest tokenized equity at the time.
As of Oct. 26, the confirmed picture is a market worth roughly $3.3 billion, with SECZ still the biggest standalone tokenized stock but Circle-linked products back in the overall lead. The next clear marker will be whether SECZ stabilizes after the recent decline or whether the multi-issuer Circle-linked segment extends its advantage.
Source: cointelegraph.com