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Overstock’s “digital dividend” tops the rankings of tokens

June 8, 2020

Since the overstock shareholders were dropped on May 19, the Overstock OSTKO token has firmly established itself as the leading value token in terms of trading volume.

OSTKO currently has twice the 24-hour trading volume than the previously reported top volume token and, despite its drop of air, is also the most traded value token for May with less than two weeks remaining in the month.

So far, the digital dividend appears to have successfully achieved Overstock’s goals. The company claimed that the airdrop would increase the liquidity of its tZERO Value Token Exchange.

Overstock’s “digital dividend” tops the rankings of tokensOverstock’s “digital dividend” tops the rankings of tokens

OSTKO was distributed at a value token for every ten overstock shares (OSTK) held by investors.

OSTKO beats TZROP

OSTKO appears to have emerged as the most traded stamp, currently with a 24-hour trading volume of nearly $ 20,000.

Vice versa, The second most traded value token, the tZero TZROP tokenSecurityTokenCap has a daily business of approximately USD 8,450.

Last month, OSTKO released a monthly trading volume of $ 518,600, exceeding TZROP’s $ 431,000 and the most traded value for May.

Excess stocks dominate the market for tokens

Despite the impressive volume, OSTKO’s price dropped 29% from $ 14.10 to $ 10.00. Since then, the market has partially recovered and was trading at $ 13 at press time.

TZROP grew 17% in May, rising from $ 1.05 to nearly $ 1.42. Since then, the token has lost 13% to trade for $ 1.23.

According to the Security Token Group, tokens issued by overstock companies currently account for 71% of the total token capitalization of nearly $ 100 million.

OSTKO and TZROP also account for 95% of the total trade volume for tokens in May.

Overstock is currently battling a lawsuit accusing the company of having misleading information about how the digital dividend would affect OSTK’s price performance, and the plaintiff alleges that the airdrop was designed to be used by the founder and former CEO of the company is approved. Patrick Byrne, sell your stock in an inflated market.