A GME meme token issued on Bankr and paired with tokenized GameStop stock briefly pushed its market capitalization above $20 million, according to GMGN market data. The token was launched about nine hours earlier and was later valued at roughly $18 million.
At the same time, price action in the tokenized GME stock on on-chain spot platform Rialto swung sharply during the day. The tokenized share price at one point climbed to $341.84 before falling back to $30.1. With GameStop common stock quoted at about $21.6, the on-chain tokenized stock was still trading at an estimated 39% premium to the underlying share price at the time of writing.
The moves show a large gap between activity in on-chain GME-linked instruments and the price of the listed stock, with both the meme token and tokenized equity product seeing steep intraday changes.
A GME meme token issued through Bankr and paired with tokenized GME stock briefly crossed a $20 million market capitalization, according to GMGN market data. The token was launched about nine hours earlier, and its market cap later stood at $18 million.
On on-chain spot trading platform Rialto, the tokenized GME stock saw sharp intraday swings. Its price at one point rose to $341.84 before retreating to $30.1. With GME common stock trading at about $21.6, the tokenized stock was still priced at roughly a 39% premium to the underlying shares.
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