Recently, the number of holdings of Solana's US stock tokenization on the chain has exceeded 800000, and in early September it was still around 420000, nearly doubling in just over ten days. But this cannot be simply understood as 800000 people starting to buy US stocks. Because in this round of growth, http://Pump.fun Custom pairs are a very important variable. Meme coins can now be traded directly with tokenized stocks, and transaction fees can also be settled with corresponding stock tokens. In other words, stock tokens have transformed from a "passively held RWA" to a fundamental asset in the on chain trading market. This is actually a crucial change: previously, assets such as NVDA, META, and NKE were moved onto the chain; Now we are starting to involve these assets in pricing, liquidity, trading pairs, and even entering native on chain scenarios such as meme and DeFi. So what I am more concerned about now is not actually how many stocks are on the chain. But it's a more fundamental question: can traditional assets really generate new trading demands after being put on the chain, instead of just completing tokenization once? This is also a worthwhile aspect to look at at at Backpack Securities now. It does not simply provide synthetic assets that track stock prices, but rather on chain stocks provided by licensed securities firms in the United States that correspond to real securities; Currently http://Pump.fun In the support list, assets issued by Backpack Securities such as INTC, HOOD, SKHY, DRAM, MU, etc. can already be seen. After this route truly matures, it may not be as simple as' Crypto users starting to buy US stocks'. Stocks have become native trading assets in the Crypto market. At this point, the boundaries between stocks, stablecoins, Perps, and DeFi truly begin to loosen. @Backpack Backpack