The top four on the Alpha trading volume leaderboard all exceeded $92 million. $DNA and $QUQ both surged to $101 million, while volume for fifth-place $Q plunged to $42.39 million. Trading volume in the top two tiers differed by more than twofold, with liquidity heavily concentrated in the top four. The thinner order books for the assets further down the list could leave them vulnerable to deep drops.

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