The surplus increased by 8% after new data on user and business activity in the alternative trading system (ATS) of the company tZERO was published for tokens.
This was stated in an announcement published on June 10th by tZERO May was the strongest exchange month in history;; Last month, 423,000 digital shares changed hands on the platform.
The main activity follows Overstock’s “digital dividend” distribution, which had an “OSTKO” value that was distributed for every ten overstock shares held by investors.
Excess inventories make digital dividends a success
Compared to May 2019, Trading volume has quadrupled in the past month, while YTD yields have risen 50% from June 1st. Saum Noursalehi, CEO of TZERO, said:
“We had four times the trading volume last month compared to May 2019. After significantly improving the liquidity on our platform, we are able to offer issuers and investors the best trading experience for token stocks.”
The tZERO cryptocurrency appwho has a wallet along with the buying and selling services of Bitcoin (BTC), Ethereum (ETH) and Ravencoin (RVN), User base also grew 15% last monthThis has resulted in an 85% increase in users compared to 2020.
Based on the data provided during an investor day webcast on June 10, tZERO appears to have achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of less $ 8.25 million for the first quarter of 2020. It may not sound very good, but it’s the best performance since 2018.
Excess stocks dominate the ranking
The strong user activity on tZERO shows this Overstock has achieved its goals with the digital dividend very successfully;; The company’s founder and former CEO, Patrick Byrne, had claimed that starting the air would increase the volume of tZERO at previous general meetings.
In your first month of trading OSTKO has quickly become the top value token for trading volume and market capitalizationThe TZROP token from TZERO thus remains in second place.
According to the Security Token Group The two tokens issued by Overstock currently account for 71% of the total market capitalization of tokens and 95% of the trading volume.