Since airdropping to Overstock shareholders on Might 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 Might regardless of its airdrop going down with lower than two weeks left within the month.
To this point, the digital dividend seems to have efficiently met Overstock’s objectives. The agency asserted that the airdrop would offer a lift to the liquidity of its safety token trade tZERO.
OSTKO have been distributed at a charge of 1 safety token to each ten Overstock (OSTK) shares held by buyers.
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 day by day commerce exercise, in keeping with SecurityTokenCap.
Final month, OSTKO posted $518,600 in monthly trade volume, additionally beating out TZROP’s $431,000 to rank and the most-traded safety token for the month of Might.
Overstock dominates safety token market
Regardless of spectacular quantity, the value 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 firms at present characterize 71% of the almost $100 million whole safety token capitalization, in keeping with Safety Token Group.
OSTKO and TZROP additionally comprise 95% of Might’s whole safety token commerce quantity.
Overstock is at present preventing a lawsuit that accuses the agency of issuing deceptive info regarding how its digital dividend would affect the value 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.