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. 

Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions:

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

Shiba Inu Records A New All-Time High AS SHIB Bucks Bearish Market Trend

The majority of crypto markets are currently going through a very bearish spell. One notable…

2 hours ago

Drops Announces Upcoming NFT Lending Platform to Boost Market Liquidity

Vilnius, Lithuania, 27th October, 2021, Drops announced today the upcoming launch of its NFT lending…

3 hours ago

TON Swap DEX unveils long-term farming program

Broxus, one of the leading developers of the FreeTON network, has announced that they have…

5 hours ago

What is Student Coin (STC)?

Back in 2018, a few students from the Students Investor's Club ‘Kapitalni’ at Kozminski University…

5 hours ago

Cadalabs: A Decentralized NFT’s and Crypto Collectibles Market kicks Off Token Pre-Sale

Cardano welcomes its first NFT and digital collectibles Marketplace by name Cadalabs. This is the…

6 hours ago

Liquidity Provider and Forex Market – Main Nuances

Information That You Need to Know About Liquidity Providers Today the international market is very…

8 hours ago