Solana’s tokenized equity market reaches $465M as Sunrise lists healthcare stocks

Solana’s tokenized equity market just crossed $465 million in total supply, a new all-time high, as healthcare giants Moderna and Eli Lilly became the latest traditional stocks to trade onchain. The listings arrived through Backpack Securities via the Sunrise liquidity gateway, extending a market that has grown from a curiosity into one of the more consequential experiments in decentralized finance this year. Solana now commands roughly 95% of all decentralized tokenized-equity spot volume, and cumulative transaction values across the ecosystem crossed multi-billion-dollar levels earlier in 2026. How Backpack became the unlikely volume king Backpack Securities launched in June 2026, entering the market with a genuinely memorable first move: tokenized SpaceX shares, listed on the same day SpaceX debuted on Nasdaq. Since then, Backpack has added names like Micron, and now Moderna and Eli Lilly, with the healthcare additions timed alongside rising investor interest in mRNA therapy developments. Backpack-issued equities represent approximately 5% of total tokenized equity supply on Solana, yet they account for more than 50% of weekly trading volume. What makes onchain equities differen...