TZERO, the digital token broker on Wall Street, records growth

 

Overstock’s shares have risen by 8% following the publication of new data regarding user and trading activity in the tZERO company’s alternative trading system (ATS) for value tokens.

An announcement released by tZERO on June 10 indicated that May was the strongest month in the exchange’s history; 423,000 digital stocks changed hands on the platform last month.

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The peak of activity follows the distribution of the „digital dividend“ of Overstock, which showed a value „OSTKO“ distributed for every ten Overstock shares held by investors.

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Compared to May 2019, the trade volume quadrupled last month, while the year-to-date performance (YTD) from June 1 increased by 50%. Saum Noursalehi, the CEO of TZERO, said:

„We had four times the trade volume last month, compared to May 2019. Having significantly improved liquidity on our platform, we are positioned to offer issuers and investors the best trading experience for tokenized securities.

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The tZERO crypt coin application, which features a coin purse along with buying and selling services from Bitcoin (BTC), Ethereum (ETH)) and Ravencoin (RVN), also experienced a 15% increase in its user base last month, leading to an 85% increase in users over 2020 so far.

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Overstock stock tokens dominate rankings
The strong user activity on tZERO shows that Overstock has been very successful in its goals with the digital dividend; the company’s founder and former CEO, Patrick Byrne, had stated that the air launch would increase tZERO volumes at past shareholder meetings.

In its first month of trading, OSTKO has quickly emerged as the leading token of value both in terms of trading volume and market capitalization, leaving the TZERO TZROP token in second place.

According to data published by the Security Token Group, the two value tokens issued by Overstock currently represent 71% of the total market capitalization of value tokens and 95% of the trading volume.