Security token trading volume crashed by 60% in September

Following four months of spectacular growth, security token trade volumes have crashed by nearly 60%.

From May through August, monthly volume gains for the sector ranged between 113% and 280%, posting record highs that increased from $998,000, to nearly $22 million, according to Security Token Group’s reports.

That big run up means that despite the massive slump in trade activity, September was still the second-strongest month on record for security tokens with more than $9.15 million in combined trade.

tZERO’s TZROP token, which represents equity in the alternative trading system, comprised more than half of the total trade, with $5.3 million in volume, down from August’s $11.8 million.

TZROP declined just 2% in price over the month, from $7.26 to $7.10, however it traded within a range between $6 and $7.90. TZROP is the second most popular security token with a market cap of $128 million, making it the 80th-ranked crypto asset according to CoinMarketCap

Overstock’s OSTKO digital security, which represents equity and voting rights in the company, drove $3.6 million in volume, down from $9.6 million last month. OSTKO also closed the month fairly flat at 1.5% down, despite producing a wide trading range between $48 and $65. OSTKO is the largest security token with a $321 million capitalization, ranking it as the 50th-ranked crypto asset overall.

Top 5 security tokens by market cap: STOMarket

The combined market capitalization of security tokens increased by nearly 4% to $528.6 million during September, owing to the addition of three tokens trading on the Seychelles-based MERJ Exchange.

MERJ’s tokens include its own native security token MERJ-S which was issued in a token sale that raised more than $450,000 last month; Uprets’ OST1 token representing fractionalized ownership in a Brooklyn apartment building; and Minervest’s MSTV-S token.

The three tokens represent nearly $24 million in assets, however, none of the tokens changed hands during September.

Source link

Share on facebook
Share on twitter
Share on linkedin

You may also like

Hot News


follow us