Crypto’s Next Meme Coin War? Traders Want Tokens That Can Move Real Stocks
Crypto traders want a token that can move a real share price. The closest thing yet is on BNB Chain, where meme coins now trade directly against tokenized GameStop.
Binance says every tokenized share it issues is backed by a real one held at a custodian.
GameStop's Tokenized Share Became a Meme Coin
A token called memestock trades against GMEB, Binance's tokenized GameStop, in a PancakeSwap pool created on August 12. The pool holds more than $200,000 and turned over $543,000 in a day.
There are others, with at least 10 meme coins now using GMEB as their quote asset, among them stockmemes, LONGCZ and BURN. Together, those pools moved about $2.2 million in 24 hours.
GMEB arrived through bStocks, the tokenized stock lineup Binance launched in June and has expanded in batches since.
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