Since airdropping to Overstock shareholders on Could 19, Overstock’s OSTKO token has firmly established itself because the main safety token by com
Since airdropping to Overstock shareholders on Could 19, Overstock’s OSTKO token has firmly established itself because the main safety token by commerce quantity.
OSTKO at present posts double the 24-hour commerce of quantity of the former-top token by quantity, additionally rating because the most-traded safety token for the Could regardless of its airdrop happening with lower than two weeks left within the month.
So far, the digital dividend seems to have efficiently met Overstock’s objectives. The agency asserted that the airdrop would supply a lift to the liquidity of its safety token change tZERO.
OSTKO had been distributed at a fee of 1 safety token to each ten Overstock (OSTK) shares held by traders.
OSTKO outperforms TZROP
OSTKO seems to have emerged because the most-traded safety token, at present boasting a 24-hour commerce quantity of almost $20,000.
Against this, the second-most traded safety token, tZero’s TZROP token, is sitting at roughly $8,450 in each day commerce exercise, based on SecurityTokenCap.
Final month, OSTKO posted $518,600 in month-to-month commerce quantity, additionally beating out TZROP’s $431,000 to rank and the most-traded safety token for the month of Could.
Overstock dominates safety token market
Regardless of spectacular quantity, the worth of OSTKO fell 29% from $14.10 to shut for $10.00. The market has since partially rebounded to commerce for $13 at press time.
TZROP gained 17% overMay, rallying from $1.05 to shut to $1.42. The token has since shed 13% to commerce for $1.23
Tokens issued by Overstock corporations at present symbolize 71% of the almost $100 million complete safety token capitalization, based on Safety Token Group.
OSTKO and TZROP additionally comprise 95% of Could’s complete safety token commerce quantity.
Overstock is at present combating a lawsuit that accuses the agency of issuing deceptive data regarding how its digital dividend would influence the worth efficiency of OSTK, with the plaintiff claiming the airdrop was devised to permit the agency’s founder and former CEO, Patrick Byrne, to dump his shares onto an inflated market.