Overstock’s OSTKO is dominating the security token rankings for both market cap and volume since airdropping to Overstock shareholders on May 19.
It has been reported that OSTKO currently posts double the 24-hour trade of volume of the former-top token by volume, also ranking as the most-traded security token for the May in spite of its airdrop taking place with less than two weeks left in the month.
However, the digital dividend appears to have successfully met Overstock’s goals, as the firm asserted that the airdrop would provide a boost to the liquidity of its security token exchange tZERO.
It has been analyzed that OSTKO were distributed at a rate of one security token to every ten Overstock (OSTK) shares held by investors. OSTKO also appears to have emerged as the most-traded security token, currently boasting a 24-hour trade volume of nearly $20,000.
According to SecurityTokenCap, the second-most traded security token, tZERO’s TZROP token, is sitting at around $8,450 in daily trade activity.
Last month, OSTKO posted $518,600 in monthly trade volume, also beating out TZROP’s $431,000 to rank and the most-traded security token for the month of May.
As per the report, despite the impressive volume, the price of OSTKO fell 29% from $14.10 to close for $10.00. The market has since partially rebounded to trade for $13 at press time.
It has been analyzed that TZROP gained 17% over May by rallying from $1.05 to close to $1.42. The token has since shed 13% to trade for $1.23
Thus, OSTKO and TZROP also comprise 95% of May’s total security token trade volume.
Source: Cointelegraph | Image: Legal Desire