The first time I searched for tokenised Alphabet on @coingecko, I expected one ticker. I got nine, all tracking the same $GOOGL share at nearly the same price. I assumed it didn't matter which one you held, or where you traded it. It does. GOOGLx has the largest market cap, but GOOGLon ( $ONDO ) trades the most. And even within GOOGLon, the venue changes everything: > One GOOGLon pair on a single exchange did 38.6% of all tokenised Alphabet volume, yet about $31.6K of selling would move its price 2% > The GOOGLon pair on Ondo's own platform could absorb $4.02M of selling before moving 2%, but carried just 2.2% of the volume Same token, yet with an astounding ~127x difference in depth. If the volume clusters on one venue while liquidity sits on another, exiting through the busiest book can cost far more than its volume suggests. I now check the ticker behind a price before reading into it. RWA Charts lets you run that issuer check across stocks, commodities and ETFs which is helpful to gain an insight before committing. Have fun toggling the data for more insights here: