$31M in Under 24 Hours: Solana’s Tokenized Grindr Stock Hits Almost 2X Its NYSE Volume

In less than 24 hours after launch, tokenized Grindr stock recorded over $31 million in trading volume on Solana, nearly doubling Grindr’s approximately $16.6 million NYSE volume from the previous trading day and surpassing Grindr’s roughly $25 million average daily trading volume.

$GRND’s 24-hour volume currently stands below $8 million. The company operates what it describes as the world’s largest social networking platform for the LGBTQ community, with more than 14 million monthly users across more than 190 countries.

Grindr’s tokenized stock, $GRND, launched on Solana on September 10 through Sunrise and Backpack Securities.

Tokenized Stocks Challenge Traditional Markets

The trading activity has already raised questions about whether onchain markets can generate meaningful liquidity for assets that traditionally trade on major exchanges.

Backpack founder and CEO Armani Ferrante highlighted the development, asking whether it represented the first time tokenized stock volume had overtaken activity in the corresponding traditional stock market.

Ferrante described the development as “the craziest thing happening in finance right now.”

The data extends beyond Grindr. Both $GRND and $VIDA have recorded more onchain trading volume than their traditional exchanges.

StonkFun Becomes Main Driver of Volume

The launch also quickly found its way into Solana's growing ecosystem of trading experiments. StonkFun listed $GRND shortly after its launch, allowing users to create and trade coins paired with the tokenized Grindr stock.

These meme/stock pairings have become the primary driver of the newly listed stocks on Solana.

Rather than simply replicating traditional shares on a blockchain, these assets can become building blocks for other onchain markets and products.

Solana Pushes Deeper Into Tokenization

The rise in tokenized equity activity comes as Solana expands its position in the real-world asset market. Solana currently ranks as the No. 1 blockchain for RWA net inflows over the past 30 days, recording approximately $348 million. 

The growth coincides with a broader expansion in tokenized equities, whose total supply climbed from roughly $500 million at the start of August to an all-time high of almost $830 million on September 1.

Solana has also launched Stocklana, a 1-week hackathon focused on stock-related products. The program offers $100,000 in prizes to builders developing stock-focused applications on the network, with submissions closing September 19.

In a recent episode of The Pomp Podcast, George Arison, CEO of Grindr, said he believed his company’s stock traded at a discount because many portfolio managers wouldn’t invest in it because of the nature of the app.

Tokenizing $GRND broadens access to the stock by bringing it into Solana’s “internet capital market” vision, where anyone with an internet connection can access assets that interest them.

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