BNC4, a crypto-equity token, recorded $138 million in trading volume within six hours of its launch on September 8, according to GMGN data cited by BlockBeats. The token trades at $9, a 51% premium over its underlying stock BNC's pre-market price of $5.95. In contrast, BNC's 24-hour trading volume was only $2 million, representing 1.48% of BNC4's volume. BNC's market cap is $143 million based on its closing price of $3.49. The data highlights the divergence between the tokenized version and the underlying equity, with the token drawing significant speculative interest despite the stock's relatively modest metrics.
BNC4, a freshly launched crypto-equity token, racked up $138 million in trading volume in only six hours after debut, according to GMGN market data. It now trades at $9, or 51% above the pre-market price of the stock behind it, BNC, which stood at $5.95.
Against the traditional stock, the gap is hard to miss. BNC, the underlying stock, saw just $2 million in trading volume over the past 24 hours. That is only 1.48% of what BNC4 pulled in over six hours. And based on BNC's closing price of $3.49 from the previous trading session, its total market capitalization is just $143 million.
BlockBeats reported the data, and the picture is pretty plain: trading interest in the token far outpaces the underlying stock. The premium points to strong demand for the crypto-equity product. But whether that kind of interest lasts is still an open question.
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