OST (OST) is one of the most promising tokens that seek to help new startups launch their projects on the ecosystem. It is a new entrant in the market and has been making steady inroads through helping these projects get started without going through the Initial Token Offering process.
Tokenization of assets has become very popular in the market today and the OST platform is ready to handle the function. Though the network is underutilized, the listing of the token in major exchanges appears to give the ecosystem the visibility it deserves. This is a simple outfit that comes with easy to use dashboard for digital asset management, virtual currency planner and launch pad for new branded tokens among other features.
OST deploys the OpenST protocol and a scaling through the OpenST Mosaic mechanism. This is a new innovation that will make future tokens and token avoid the overly scammed ICO process and give new projects investor confidence that has been missing in the crypto verse. According to the OST (OST) website:
“OpenST Mosaic is an overlay-consensus engine that adds transactions throughput capacity to Ethereum by leveraging proof-of-work to secure large number of utility blockchains. OpenST Mosaic introduces 2nd layer consensus rules to open validators that provide economic finality for the transactions executed on OpenST utility chains with representation of the value that remains securely staked on Ethereum.”
OST (OST) Listing on UpBit
UpBit, a global cryptocurrency exchange based in Korea has announced listing of OST which has brought the token attention to investors. The announcement has been met with a lot of positivity which has seen the OST token price skyrocket by more than 95% in less than 12 hours. While breaking the news good news, the OST statement read in part:
“We are pleased to announce that as of Tuesday 7 August 2018, OST is now available for purchase on UpBit, one of South Korea’s largest exchanges. OST is already available on Binance, OKex and Huobi.”
With the top 100 digital currencies trading in the red apart from Tether (USDT), OST addition on UpBit is a major boost to its visibility not only in the Korean market across the globe. This is also a big plus for an ecosystem that has plans in place to launch their own token exchange in early 2019.
OST will now be paired with the Korean Won (KRW) that has been growing in popularity in the Korean market. However, OST will also interact with other major tokens listed on the exchange. The additional pairs are additional vehicles to push the token to more user wallet thus increasing adoption, usage and vale to the native OST token.
OST (OST) Price Recap
Since hitting a high of $1.23 on 10th January, the OST price has been plummeting and the spike could mean a gold rush for whales and speculators who are on the sidelines looking for prospective token to put their stakes on. At press time, OST price stood at $0.050914 after shedding 24.07% to the dollar in less tha12 hours. The shedding of the gains after listing on the UpBit platform is not an isolated case but is reflects on the entire market short term crash.
The token has seen a total of $59.6 worth of OST tokens changes hand during the period with most of the volumes recorded on Binance which moved 51.84% and UpBit at 29.24%. OST/BTC was the most popular pair on Binance while OST/KRW led at UpBit.