🐋 WHALE WATCH: @arcus_xyz is showing what 24/7 equities look like once the closing bell stops being a hard cutoff. The same RFQ flow keeps running after US markets close, but the pricing environment changes when the underlying exchange is no longer providing a live reference. That turns the close from an endpoint into a liquidity event: the market keeps trading, while quotes have to absorb more uncertainty until the cash session comes back online. Arcus has already reported a recent week where 56% of Stock Token volume happened outside regular US market hours.(Whale Factor)