Techub News reports that a new kind of trading pair has emerged on BNB Chain, matching meme coins with tokenized equities. A meme coin called memestock is being traded against GMEB, Binance's tokenized GameStop stock, in a PancakeSwap pool.
The pool was created on Aug 12 and currently holds more than $200,000 in liquidity, with daily trading volume reaching $543,000. On-chain data shows at least 10 meme coins now use GMEB as their quote asset, and the combined 24-hour trading volume across these pools is roughly $2.2 million.
Binance's bStocks line and the scale of on-chain GameStop shares
Binance launched its bStocks tokenized equity line in June, saying each tokenized stock is fully backed by real shares held by a custodian. There are currently 292,353 tokenized GameStop shares on-chain, worth about $5.3 million. That equals just 0.07% of GameStop's total market cap of approximately $8.02 billion. The meme coins tied to this ecosystem carry a combined market cap of around $3.7 million.
Trader Schoen weighs in
Trader Schoen said on X that the current experiment involves companies with market caps that are too large. He hopes to see meme coins paired with tokenized stocks of smaller firms with market caps between $50 million and $250 million, to test whether on-chain activity can meaningfully move share prices. (BeInCrypto)