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.
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.
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.
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