# CrowdStrike tokenized stock (xStock) (CRWDX): D-Score 48/100 — Moderately Decentralized

**BlockIndex D-Score: 48/100 (Moderately Decentralized).** CrowdStrike tokenized stock (xStock) (CRWDX) is a Layer 2 cryptocurrency using Other consensus. CrowdStrike xStock: Multi-chain tokenized equity tracker providing onchain exposure to CrowdStrike stock price performance.

_Source: https://blockindex.ai/coin/crwdx · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 48 |
| Node distribution | 0 |
| Initial distribution | 25 |
| Governance | 16 |
| Age and history | 7 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other (2025)
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 78,142

## Market data (as of 2026-06-19)
- Price: $706.19
- Market cap: $55.18M
- 24h volume: $177.34
- 24h change: +3.01% · 7d change: +2.45%

## About
CrowdStrike tokenized stock (xStock), traded under CRWDX or CRWDx, is a tokenized tracker certificate designed to follow the price performance of CrowdStrike Holdings, Inc. equity. It is best understood as a real-world asset token rather than a standalone cryptocurrency network. Source data identifies the product as part of the xStocks and Backed Finance tokenization ecosystem, with CoinDesk listing June 12, 2025 as the launch date. The product gives eligible crypto market participants blockchain-native exposure to CrowdStrike stock-price movements while retaining the practical characteristics of a token that can be held, transferred, and potentially integrated into onchain financial workflows.

Technically, CRWDX does not operate its own blockchain, validator set, mining system, or native consensus mechanism. It is issued as a token across existing blockchain environments, including Solana SPL and ERC-20 formats, with additional explorer coverage for BNB Smart Chain and Arbitrum contract contexts. Because it inherits infrastructure from parent chains, CRWDX has no native block production, native TPS, mining algorithm, staking rewards, UTXO model, or independent chain history. Its technical value comes from tokenized certificate structure, wallet compatibility, immediate settlement, multi-chain access, and interoperability within the broader tokenized-equity market rather than from protocol-level innovation.

The main use case for CRWDX is regulated or eligibility-gated exposure to CrowdStrike Holdings, Inc. stock-price performance through crypto market infrastructure. The xStocks context emphasizes 24/7 access, onchain custody, unified crypto and equity liquidity, potential DeFi composability, and cross-chain mobility. In practice, this positions CRWDX for investors and market participants who want equity-like exposure inside blockchain wallets and exchange venues. The token is tracked by major crypto data platforms such as CoinMarketCap, CoinGecko, and CryptoCompare, and it has market listings that include Kraken, Bybit, Binance, Bitget, Coinbase, and Jupiter in the supplied ecosystem data.

CRWDX tokenomics differ from mined cryptocurrencies because the asset is issuer-created as a tokenized tracker certificate. It has no mining emissions, block rewards, halvings, staking yield, or decentralized monetary policy. Available supply data varies across sources: CoinMarketCap validation data showed roughly 34.48K CRWDX total and circulating supply, implying full circulation of the displayed supply, while CoinDesk showed a different circulating and total supply snapshot with infinite max supply. The DScore extraction treats the product as centrally issued and pre-issued, with PIP recorded as 100%, while premine is not applicable in the traditional proof-of-work sense. Market validation data showed a price near $652.91 to $653.35, market cap variance across providers, and an unusually high reported all-time high from CoinMarketCap on February 2, 2026.

Governance is issuer-managed rather than DAO-based. No CRWDX-specific founder, community treasury, token voting process, or decentralized governance system is documented in the supplied summaries. The organization context points to CrowdStrike Holdings, Inc. as the referenced equity issuer and xStocks or Backed Finance as the tokenization platform context, with no CRWDX-specific open-source repository or protocol development roadmap provided. Risk considerations are mainly regulatory, issuer, market-data, and parent-chain dependency risks. The available data documents no CRWDX-specific hacks, exploits, freezes, or network halts, but xStocks material states that these products are not intended for distribution in the United States, to U.S. persons, or in prohibited jurisdictions.

## Links
- Website: https://assets.backed.fi/
- Whitepaper: https://docs.backed.fi/
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore