Market data on July 23 showed that trading activity in the GME Meme Token and the GME tokenized stock on Robinhood Crypto pushed the underlying liquidity pool sharply higher, sending the on-chain price of the tokenized stock to roughly 10 times the price of the real stock at one point. The move was tied to the small size of the relevant pool, which held only about $200,000 in liquidity, making it easier for heavy buying to push prices far away from the spot market.
Mint and burn access for the GME tokenized stock is currently limited to Authorized Participants and market makers that have completed KYB verification. On-chain data also showed that the official mint address has been continuously issuing new tokens and adding liquidity to the market. The latest records indicated that new mint transactions were appearing almost every minute, as market makers worked to ease the premium and guide the tokenized stock price back toward its real-world reference value.
BlockBeats reported on July 23 that market data showed strong trading in the GME Meme Token and the GME tokenized stock on Robinhood Crypto, which drove a rapid rise in the underlying liquidity pool price. At one point, the on-chain price of the GME tokenized stock traded at roughly a 10x premium to the real stock price.
The relevant trading pool had only about $200,000 in liquidity. With buying concentrated in a pool of that size, the price moved quickly away from spot.
Mint and burn permissions for the GME tokenized stock are currently available only to Authorized Participants and market makers that have completed KYB. On-chain data showed that the official mint address has been continuously issuing new tokens and adding liquidity to the market. The latest records showed new mint transactions appearing almost every minute, aimed at easing the premium and pushing the price back toward fair value.
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