The security token markets continued to slump last month, with sector-wide trade volume receding by more than 40%.
The bullish momentum enjoyed by the security token sector in the first three quarters of 2020 has well and truly subsided, with monthly volume crashing by more than 40% for the second time in a row.
Since it tagged almost $22 million in August, monthly security token trade slumped to $9.15 million in September, before sliding down to $5.27 million for October.
With 98% of the sector’s trade taking place on the Overstock-owned alternative trading system tZERO, it appears Overstock’s plan to bolster volumes through issuing a “digital dividend” in the form of security airdropped to OSTK shareholders has lost its steam.
Overstock’s OSTKO security token — which represents 50% of the combined security token market cap — shed 18% of its value during October, while monthly volume fell 20% to roughly $3 million.