Backpack Exchange's native BP token surged from under $0.50 in mid-September to a new high of $1.65 on October 1, 2026, following the US SEC's Innovation Exemption. This exemption permits limited on-chain trading of tokenized US stocks for up to five years with strict volume caps. Backpack's model offers actual shares behind tokenized stocks, distinguishing it from synthetic alternatives. BP holders can stake tokens for fee discounts and potential equity conversion rights tied to a future IPO, making the token more than just a speculative asset.
Backpack Exchange's BP token reached a new all-time high of $1.65 on October 1, 2026. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 01, 2026 19:47 WIB: out of 50 major cryptocurrencies, 12 rose and 37 fell today. Notable movers include THETA at Rp4.020 with a 1-day change of -3.85%, COMP at Rp438.015 down 3.58%, and XLM at Rp3.987 down 3.37%.
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