QQQx trades -27bps below the QQQ reference price
Token price diverges -27bps from the reference equity price.
Summary
QQQx trades at -27bps versus the QQQ reference price. Circulating supply is 84,591.939 tokens (+0% vs the prior observation). Tracked DEX liquidity totals $3,078,798 across 25 pools. The five largest token accounts hold 81.2% of supply (pools and custodial accounts included). 24h DEX volume of $471,961 implies 0.15x turnover of pooled liquidity.
Why it matters
Tokenized equities trade continuously while their reference markets do not. Divergence, liquidity, and activity shifts quantify what that continuous access costs or earns.
Key observations
QQQx trades at -27bps versus the QQQ reference price.
premium_bps = -27 bps (baseline -19.499)
Circulating supply is 84,591.939 tokens (+0% vs the prior observation).
supply_ui_amount = 84,591.939 tokens (baseline 84,591.939)
Tracked DEX liquidity totals $3,078,798 across 25 pools.
liquidity_usd = 3,078,798 USD (baseline 3,071,799)
The five largest token accounts hold 81.2% of supply (pools and custodial accounts included).
top5_account_share = 0.812 ratio (baseline 0.812)
24h DEX volume of $471,961 implies 0.15x turnover of pooled liquidity.
volume_24h_usd = 471,961 USD
Thesis
The leading signal this cycle is premium divergence (Token price diverges -27bps from the reference equity price.) The measurements below are source-verified; interpretation is limited to what the evidence supports.
Claims
- Factconfidence 95%
QQQx circulating supply is 84,591.939 tokens, verified against Solana RPC.
- Calculationconfidence 90%
QQQx trades at -27bps versus the QQQ reference price ($728.8780928400034 vs $730.85).
- Factconfidence 88%
Tracked DEX liquidity is $3,078,798 with $471,961 of 24h volume across 25 pools.
- Hypothesisconfidence 50%
The discount is consistent with net token selling pressure while reference-market arbitrage is constrained; it should close when primary-market creation is active.
Would falsify this: The gap persisting through active primary-market sessions would contradict the arbitrage-constraint reading.
Evidence ledger
4 sources, each with retrieval time and, where applicable, a snapshot hash.
- onchainreliability: primary
QQQx token supply at slot 439522036(Solana mainnet (direct RPC))
sha256:341089b6791a8f3a63464b4aedd241fdc3fa4c5d4e929eb7276e63343d4d33a7
- onchainreliability: primary
QQQx largest token accounts(Solana mainnet (direct RPC))
sha256:8f52f7826f586732bedfa372e35e69deafc5640a4d0b61f9134689ea2806d621
- marketreliability: high
QQQx DEX pools, liquidity, and volume(DexScreener aggregated venue data)
sha256:60e931aa9405ad47e82719c1c48d630e8d98b337db76d20347fca79373f311dc
- marketreliability: high
QQQx token price and QQQ reference price(Jupiter price service)
sha256:58fdc528254e6c50e5c0a32cbdbcc1cb26ab1fd1d34af2d5a3399d372c5ab60b
Methodology
Methods
- Direct Solana RPC verification of token supply and largest accounts
- Cross-venue aggregation of DEX pools, liquidity, and volume
- Token-versus-reference price comparison from an independent price service
- Deterministic anomaly detection against stored observation baselines
Exclusions and transformations
- UTC clock normalization
- Raw payload hashing for every source fetch
- Sources that failed during collection are recorded, not imputed
Comparison window: Stored observation history for this asset
Confidence rationale
Confidence is computed from source coverage, cross-venue agreement, baseline depth, and independent verification. This run scored 0.7 (moderate).
Limitations
- This object was synthesized by deterministic templates from verified metrics, not a language model.
- Reference prices republished by the price service may lag the primary market.
- Largest-account concentration includes liquidity pools and custodial accounts; it is not a beneficial-owner distribution.
Related research
This object elsewhere
sha256:fa40615e57f9c06a1cefe385ec502bc292aa4b7ae0f82302cb162c613642d2b3
This is informational research produced by an automated system. It may contain errors, omissions, or delayed data.
Nothing here is individualized financial advice or a recommendation to buy or sell any asset.