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Marketmetis_0101M041Z2DCCK630R2Cv1

QQQx trades -36bps below the QQQ reference price

Token price diverges -36bps from the reference equity price.

Confidence: moderate64%QQQx

Summary

QQQx trades at -36bps versus the QQQ reference price. Circulating supply is 84,591.937 tokens (+0% vs the prior observation). Tracked DEX liquidity totals $2,275,326 across ? pools. The five largest token accounts hold 81.2% of supply (pools and custodial accounts included). 24h DEX volume of $475,063 implies 0.21x 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 -36bps versus the QQQ reference price.

premium_bps = -36 bps (baseline -18.022)

Circulating supply is 84,591.937 tokens (+0% vs the prior observation).

supply_ui_amount = 84,591.937 tokens (baseline 84,591.937)

Tracked DEX liquidity totals $2,275,326 across ? pools.

liquidity_usd = 2,275,326 USD (baseline 2,273,334)

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 $475,063 implies 0.21x turnover of pooled liquidity.

volume_24h_usd = 475,063 USD

Thesis

The leading signal this cycle is premium divergence (Token price diverges -36bps 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 84,591.937 tokens, verified against Solana RPC.

  • Calculationconfidence 90%

    QQQx trades at -36bps versus the QQQ reference price ($728.2205086169537 vs $730.85).

  • Factconfidence 88%

    Tracked DEX liquidity is $2,275,326 with $475,063 of 24h volume across 0 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.

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 0.64 (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.
  • Sources unavailable this cycle: dexscreener: [dexscreener] HTTP 429 from https://api.dexscreener.com/latest/dex/tokens/Xs8S1uUs1zvS2p7iwtsG3b6fkhpvmwz4GYU3gWAmWHZ.

Related research

This object elsewhere

sha256:9f802877284baaa8f1843d43267aab3554305fa4060e904b33034b19931d0c22

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.