Traders Seek Tokens That Can Move Real Stocks

Crypto traders are seeking tokens that can influence real stock prices, and one BNB Chain experiment has shown some promise.

The closest thing to this concept is currently on BNB Chain, where a meme coin called memestock trades directly against tokenized GameStop (GMEB).

This token, memestock, was created in a PancakeSwap pool on August 12 and has seen significant trading activity, with over $200,000 in the pool and daily turnover of $543,000.

In fact, at least 10 other meme coins are now using GMEB as their quote asset, including stockmemes, LONGCZ, and BURN. Together, these pools moved about $2.2 million in 24 hours.

Binance's tokenized stock lineup, bStocks, launched in June and has expanded since, with each token fully backed by a real US share held at a regulated custodian.