Security Token Trading Volume Dropped By 60% In September

Security token trading volume decreased by 60% in September alone after four months of huge growth so let’s read more in our latest crypto news.

From May to August, the monthly volume gains for the sector ranged between 113% and 280% posting record gains that increased from $998,000 to about $22 million according to the Security Token Group reports. The big run-up means that the massive slump in trading activity didn’t mean a lot as it still was the second-strongest month on record for security token with more than $9.15 million combined in trades.

tZERO’s TRZROP token which represents the equity in the alternative trading system, comprised more than half of the total trade with $5.3 million in volume which is down from August $11.8 million. TZROP declined about 2% in price over the month from $7.26 to $7.10 but it traded within a range between $6 and $7.90 as TZROP is the second biggest security token with a market cap of $128 million making it the 80^th ranked crypto coin according to CoinMarketCap.

Overstock’s OSTKO digital security which shows equity and voting rights in the company drove $3.6 million in volume which is down by $9.6 million last month. OSTKO closed the month flat at 1.5% down despite producing a wide trading range between $48 and $65. OSTKO is the biggest security token with a $321 million capitalization ranking the 50^th ranked crypto asset overall. The combined market cap of the security tokens increased by about 4% to about $528 million in September thanks to the addition of three tokens trading on the MERJ Exchange.

The MERJ token includes its own native security token MERJ-S which was issued in a token sale that raised more than $450,000 last month as the Uprets’s OST1 token represents a fractionalized ownership in Brooklyn apartment building and Miervest’s MSTV token.  The tokens represent about $24 million in assets but none of the tokens changed hangs in September.

Speaking of privacy coins, The Zcash Company, or the Electric Coin company that runs Zcash, is in the process of shifting towards a non-profit status called the Bootstrap Project after most of the shareholders chose to donate their holdings to the company. The stockholders’ donation comes as the international governments looked askance at the privacy-based technologies like privacy coins and wallets.