Robinhood Crypto's on-chain GME tokenized stock experienced a significant premium, with market makers continuing to mint arbitrage

BlockBeats News, July 23rd. According to market data, the trading frenzy of the GME Meme Token and GME tokenized stock on Robinhood Crypto has driven a rapid surge in the underlying liquidity pool price. The on-chain price of the GME tokenized stock once had a roughly 10x premium compared to the actual stock price. Due to the liquidity pool's modest size of about $200,000, a large amount of buying pressure caused the price to deviate significantly from the spot market.

Currently, the Mint/Burn permission for the GME tokenized stock is only open to Authorized Participants who have completed KYC and market makers. On-chain data shows that the official Mint address is consistently issuing new tokens and supplying liquidity to the market. The latest records indicate almost a new Mint transaction every minute to alleviate the premium and drive the price back to its true value.