Stonkpile/Backpack
SKHY is doing $2k of 24-hour volume as a quote asset, across $20k of liquidity. These are the coins using it as their unit of account.
Five arithmetic checks on the stock token itself, before you look at anything quoted against it.
Metadata is served from Backpack's own domain, which is how this index separates real tokenized stocks from the hundreds of lookalikes that simply put the name in their title.
Deep enough that a normal trade will not move the price much.
Pyth publishes an always-on price for SKHY, so there is something independent to check the on-chain price against at any hour.
Trades in several places, so one pool drying up is not fatal.
Modest holder base for a tokenized equity.
These are arithmetic checks on public data, not advice. They tell you what the numbers look like, not what to do about them.
Turnover is 24-hour volume divided by the liquidity behind it. Anything far above about 5x is churning faster than real demand usually does.
| Coin | Venue | Liquidity | 24h volume | Turnover | 24h |
|---|---|---|---|---|---|
| 1 SPCX | meteora | $2k | $2k | 0.8x | -3.3% |
| 2 FAKER | raydium | $6k | $526 | 0.1x | -20.7% |
| 3 KPOP | raydium | $5k | $66 | 0.0x | — |
| 4 $TBRD | pumpfun | — | $38 | — | -1.7% |
| 5 HARU | raydium | $7k | $1 | 0.0x | — |
| 6 FRANKY | meteoradbc | — | $0 | — | — |
| 7 PIVOT | meteora | — | $0 | — | -98.1% |
| 8 PVTEST | meteora | — | $0 | — | -11.5% |
SPCX is the largest coin quoted against SKHY right now. Same checks, applied to it.
Volume is proportionate to the liquidity behind it, which is what organic trading looks like.
Almost no depth. You may not be able to sell what you buy.
Has been trading long enough to have a track record.
These are arithmetic checks on public data, not advice. They tell you what the numbers look like, not what to do about them.