Nasdaq xStock

Nasdaq xStock (QQQX) is a tokenized representation of a Nasdaq-linked exchange-traded fund, issued under the xStocks framework and designed to give non-US users on-chain access to a US equity instrument without going through a traditional broker. Each token is backed one-to-one by the underlying asset and carries a legal claim to its value. The project describes itself as a way to remove the geographic, regulatory, and institutional barriers that have historically kept many retail participants from accessing US financial markets.

QQQX tokens exist across multiple blockchains simultaneously, including Ethereum, Solana, BNB Chain, Arbitrum, and Hyperliquid, making them usable within the DeFi ecosystems on each of those networks. The token is structured to be composable, meaning it can interact with lending, liquidity, and other decentralized finance protocols in the same way a standard on-chain token would. No consensus algorithm is recorded for this asset, consistent with its nature as a tokenized product rather than a standalone blockchain.

The data provided contains no fee stream, revenue figures, or protocol earnings for QQQX, so no fee-based economic analysis is possible from the information stored here. What is recorded is a circulating supply of 51,024 tokens at a point-in-time price of 748.32 USD, producing a market capitalization of 38,182,716 USD. The fully diluted valuation stands at 5.29 times the current market capitalization, and a supply-pending figure of 429.12 percent indicates that a very large portion of the total anticipated supply has not yet entered circulation relative to what is currently issued.