Exodus’ Security Token Pops Off During First Day of Trading on tZERO

The EXIT security token by Exodus is a big deal for the crypto and blockchain industry. As the token represents common stock in the company, it proves great value to security token traders. As a result, the price rose astronomically, and the token quickly acquired a $122.9 million market cap. 

Exodus’ EXIT Pops Off

A few days ago, we discussed how the security token by Exodus is a big deal. Seeing a crypto and blockchain company opt for a regulated token offering over an IEO, IDO, or ICO is rather unusual. Additionally, it confirms the company’s commitment to expanding its reach outside of the crypto industry. Again, a crucial development to bring more positive attention to this growing industry.

Whenever a new security token goes live for trading, it remains to be seen how traders will respond. Exodus made a smart decision by listing its token on tZERO, one of the most recognized platforms for security token trading today. It is also a platform that provides easy access to existing and new listings. Its overall volume rose strongly last month, indicating the demand for exposure to security tokens is rising.  

Source: STOMarket

For EXIT – or EXOD as it is known under on tZERO – the first day and a half of trading have proven successful. The token now has a market cap of just under $123 million. Moreover, every EXOD/EXIT is valued at $45 after a substantial price increase. It is good to see such early anticipation for this token and the company it represents. 

Thanks to such a successful launch, Exodus is now the third project by market cap in the security token industry. It is still behind Overstock and INX Limited but surpassed tZERO and Blockchain Capital rather quickly. Moreover, there are now five projects with a market cap of over $100 million, which is rather impressive. It is a healthy sign for the overall industry.

Overall Volume Can Still Improve

When a token surges in value, there will often be early investors looking to cash out. For Exodus, that doesn’t appear to be the case just yet. The impressive start has yielded just over $51,800 in daily trading volume. That seems relatively small for a project with such a high market cap. Even the 64.11% EXOD/EXIT price increase isn’t swaying most traders to flip the token right away.

Source: tZERO

It is worth nothing EXOD is only the fourth security token to be listed on tZERO. The others are OSTKO, ASPD and TZROP itself. The token is in good company, as every asset represents something unique and different. The EXOD price hit a high of $75 on the first day, although it seems that momentum has calmed down a bit again. Increasing the trading volume will prove crucial over the coming weeks. 

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.

JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

Published by
JP Buntinx

Recent Posts

Miner US Brings Lifetime Cloud Mining Plans For Constant Income In Cryptocurrency

The parent company of Miner US, Miner Us Limited, continues to invest in the Miner…

9 mins ago

The 4 Biggest E-commerce Players In Asia In 2023

E-commerce is a big industry that will continue to thrive in the next few decades.…

4 hours ago

Is DeFi Failing Already?

The decentralization of finance is an exciting new phenomenon. It promises to reduce our reliance…

9 hours ago

Justin Sun Makes 3 Bold Claims To Drive Tron (TRX) Adoption In 2023

There are thousands of cryptocurrencies, tokens, and assets on the market. Tron, or TRX, is…

11 hours ago

Why eSports Crypto Betting Becoming So Popular?

Esports bettors and operators have greatly benefited from the introduction of cryptocurrencies in the betting…

12 hours ago

Moody’s Is Working On A Stablecoin “Credit Rating” System

Moody’s plans to build a new scoring solution that focuses primarily on stablecoins. That does…

13 hours ago