The onchain market value of tokenized Securitize shares has dropped by more than half in less than a month, while tokens linked to Circle have expanded their lead in the market for blockchain-based equities.
Securitize’s tokenized value declines
The market capitalization of Securitize’s tokenized shares, traded under the symbol SECZ, fell from $430.4 million on Sept. 28 to $208.6 million by Sunday, according to Token Terminal. That represents a decline of more than half from the recent peak.
The move came alongside weakness in Securitize’s underlying shares on the New York Stock Exchange. The stock closed Friday 2.1% lower at $7.80, giving the company a conventional equity market capitalization of $1.27 billion.
Securitize’s tokenized shares are digital representations of the company’s stock recorded on a blockchain. The company is also a participant in the broader tokenization market: it helps asset managers, including BlackRock, issue securities on blockchains.
Securitize placed its own common shares onchain at the time of its July 2 NYSE listing, making SECZ the largest tokenized equity at that point. Despite the recent fall in value, SECZ remains the largest individual tokenized stock.
Circle widens its lead
Tokens tracking Circle’s stock have moved in the opposite direction. Their combined market value has risen by about 20% since Sept. 28 to $383.6 million, allowing Circle-linked products to reclaim the leading position in the $3.3 billion tokenized-stock market.
The comparison requires some context: Circle’s total is spread across products issued by several platforms, while SECZ represents one individual tokenized stock. Binance’s CRCLb token on BNB Chain is the largest of the Circle-linked offerings, with a market value of $154.1 million.
Circle is therefore ahead on an aggregate basis, even though SECZ remains the biggest single tokenized equity. The figures highlight how demand and market value can be distributed across multiple blockchain products tied to the same underlying company.
Trading platform and analyst downgrade
The decline in SECZ followed a sell-off in Securitize’s NYSE-listed shares. The stock had recorded gains after the company launched its stock-trading platform on Solana on Oct. 8, but those gains were later erased.
Citi downgraded SECZ from Buy to Neutral on Oct. 13, citing concerns about revenue from tokenization. Tokenization refers to representing ownership interests, such as stocks or other securities, as blockchain-based tokens. Its growth has created a market in which traditional financial assets can be tracked and traded through digital infrastructure, but the value of individual tokenized products can still change sharply.
Moneyiar market picture
Moneyiar market data recorded at 22:38–22:39 on Oct. 25, 2026, showed mixed performance among the listed digital assets:
- Chainlink (LINK): $11.4919, down 0.49% over 24 hours and 3.57% over seven days.
- Cronos (CRO): $0.054290275, down 1.83% over 24 hours and 3.03% over seven days.
- Ethereum Name Service (ENS): $5.274944882, down 0.45% over 24 hours and 2.02% over seven days.
- Cap (CAP): $0.108466271, up 35.1% over 24 hours and 55.28% over seven days.
These figures are Moneyiar data at the stated times and provide broader digital-asset market context; they do not measure the tokenized stock valuations described above.
