Nasdaq xStock

QQQX Price

About Nasdaq xStock (QQQX)

Nasdaq xStock (QQQX) is a tokenized representation of the Nasdaq-100 index, designed to provide on-chain exposure to the technology-heavy equity market.

• The asset is backed 1:1 by shares of a Nasdaq-100 ETF held in regulated, segregated custody accounts.
• It operates within a compliant legal framework, utilizing a bankruptcy-remote special purpose vehicle (SPV)—a legal entity created for a specific, limited purpose—to protect token holders.
• Holders can utilize the token across various decentralized finance (DeFi) protocols for lending, collateralization, and liquidity provision.

What Is Nasdaq xStock

Nasdaq xStock is a real world asset (RWA) that bridges traditional equity markets with blockchain technology. It enables users to gain economic exposure to the 100 largest non-financial companies listed on the Nasdaq Stock Market without needing a traditional brokerage account. Value moves through the system as the token tracks the price of the underlying Nasdaq-100 ETF, with dividends and corporate actions reflected through an on-chain rebasing mechanism. The token is "put to work" by being integrated into DeFi ecosystems, allowing users to earn yield or use their equity holdings as collateral in a permissionless manner. This model scales by increasing the total value locked as more participants move traditional equity capital into the on-chain economy.

What Makes Nasdaq xStock Unique

• 24/7 Market Access: Unlike traditional stock markets with limited hours, QQQX can be traded around the clock on decentralized exchanges (DEXs).
• Immediate Settlement: Blockchain technology allows for near-instant settlement of trades, bypassing traditional T+1 or T+2 settlement cycles.
• Native DeFi Composability: It is designed to be plug-and-playable with lending markets and structured products, a feature not available to traditional brokerage-held stocks.
• Bankruptcy-Remote Structure: The underlying collateral is held in a segregated account governed by a three-party Account Control Agreement, ensuring it is legally isolated from the issuer's balance sheet.

What Can You Use Nasdaq xStock for?

Nasdaq xStock is pegged to the Nasdaq-100 ETF.

1. Value retention: The asset allows users to maintain a digital, on-chain representation of the Nasdaq-100 ETF, potentially reducing exposure to the volatility of the broader cryptocurrency market by holding a traditional equity-linked stablecoin.
2. Yield generation: Users can engage in decentralized lending or liquidity provisioning by depositing QQQX into supported DeFi protocols. The source does not specify native sovereign debt yield for this specific asset.
3. Cross-border settlement / value transfer: It facilitates the global transfer of Nasdaq-100 equity value, enabling international users to hold and move US-market exposure without traditional cross-border brokerage friction.
4. Collateralization: QQQX can be used as backing for borrowing/lending protocols or as margin for derivatives on platforms that support tokenized real world assets.

How Does Nasdaq xStock Work?

The system functions through a mint-and-burn mechanism where the issuer purchases the underlying Nasdaq-100 ETF shares for every token minted. These shares are placed in a segregated custody account, and an independent security agent has visibility over the collateral to ensure the 1:1 backing is maintained. For dividends and stock splits, the protocol uses a rebasing mechanism, a method that automatically adjusts the token balance in a user's wallet to reflect corporate actions without requiring manual intervention. As an application utility token, users pay protocol service fees or standard network transaction fees on the underlying blockchain (such as Ethereum or Solana) to transfer or interact with the asset.

Team Info and Investors

Nasdaq xStock is part of the xStocks ecosystem, a collaborative effort known as the xStocks Alliance. This alliance includes major industry participants such as Kraken, ByBit, Solana Foundation, and Jupiter. The primary issuer and technical provider is Backed, a firm specializing in the tokenization of real world assets under EU regulatory frameworks. Early backing and strategic partnerships have been documented with platforms like Alpaca and Alchemy Pay to facilitate seamless minting and redemption across fiat and on-chain rails.

Where can you buy Nasdaq xStock?

QQQX tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Nasdaq xStock is Gate, where the most active trading pair QQQX/USDT has a trading volume of $130,883.41 in the last 24 hours. Other popular options include LBank and Kraken.

What is the daily trading volume of Nasdaq xStock (QQQX)?

The trading volume of Nasdaq xStock (QQQX) is $907,111.85 in the last 24 hours, representing a -11.70% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Nasdaq xStock (QQQX)?

Nasdaq xStock (QQQX) reached an all-time high of $2,014.76 and an all-time low of $543.74. It’s now trading -65.40% below that peak and 28.20% above its lowest price.

What is the market cap of Nasdaq xStock (QQQX)?

Market capitalization of Nasdaq xStock (QQQX) is $32,341,967 and is ranked #577 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of QQQX tokens (46 Thousand tokens are tradable on the market today).

What is the fully diluted valuation of Nasdaq xStock (QQQX)?

The fully diluted valuation (FDV) of Nasdaq xStock (QQQX) is $177,405,588. This is a statistical representation of the maximum market cap, assuming total number of 250 Thousand ETH tokens are in circulation today.

How does the price performance of Nasdaq xStock compare against its peers?

With a price decline of -4.20% in the last 7 days, Nasdaq xStock (QQQX) is underperforming the global cryptocurrency market which is down -0.60%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.