Let's start with a number: $70 million to $100 million. That's the daily trading volume range Jesse Pollak revealed for tokenized stocks on Base, six weeks after Coinbase rolled out the feature. For a product that's only been live for about a month and a half, that scale alone makes for a compelling opening to the story.
Pollak is the founder of Base, the Coinbase-backed Layer 2 network that began letting users trade tokenized stocks on-chain six weeks ago. According to figures Pollak shared, daily trading volume for the feature has now stabilized in the $70 million to $100 million range.
He's using that data to back up a broader call: the next "tokenization supercycle" won't be led by USD stablecoins, which have gotten most of the attention so far, but by stocks and non-USD-denominated stablecoins. In other words, Pollak believes the next wave of on-chain asset tokenization growth will come from two directions—traditional securities and multi-currency stablecoins.
For now, the publicly confirmed facts are limited to this: six weeks in, daily trading volume of $70 million to $100 million, and Pollak's bet on stocks and non-USD stablecoins. How this "supercycle" will unfold—and how big it will get—remains to be seen as more data and product developments come in.
