At one point, a premium of about 10 times emerged, as market makers continued to engage in minting arbitrage with GME tokenized stocks on the Robinhood Crypto blockchain.
Svmuu News: According to market data, trading activity surrounding the GME Meme Token and GME tokenized stock on Robinhood Crypto has driven up prices in the underlying liquidity pool, with the on-chain price of GME tokenized stock at one point trading at a premium of approximately 10 times the price of the actual stock. The liquidity pool for these trades is approximately $200,000, and heavy buying pressure has caused prices to deviate from the spot price. Currently, minting and burning permissions for GME tokenized stock are only available to authorized participants who have completed KYB verification and to market makers. On-chain data shows that the official mint address is continuously issuing new tokens to replenish market liquidity; the latest records indicate that new mint transactions occur nearly every minute to alleviate the premium and drive the price back toward its true value.
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