Tokenized stock transfer volume jumps 415% to $29.5B

The 415% surge in transfer volume signals a shift from pilot-phase tokenization to meaningful market usage, as doubling active addresses and holders points to genuine demand rather than isolated institutional tests. This matters because it suggests RWA infrastructure may be crossing a liquidity threshold where secondary-market activity becomes self-sustaining. The key question is whether this velocity reflects durable structural adoption or a spike driven by specific market conditions. Watching whether transfer growth outpaces holder growth over the next cycle will reveal if liquidity is deepening or merely concentrating.