June has been the month where the cryptocurrency markets experienced an unusual surge with the cryptocurrency market cap exceeding $100 Billion for the first time. While Bitcoin and Ethereum, the apex digital assets led the surge, another digital asset that tripled in value during the time was OBITS. The rise in the price of OBITS started early in May where the digital asset touched $1 per OBITS before closing a tad shy of the high. Early June, the OBITS price rise was exponential, leading to a massive surge in the market cap of the cryptocurrency. While the trading value of OBITS is skyrocketing, what makes the digital asset even more valuable is what it does. Let’s delve deep into what makes OBITS so unique and in my opinion, promising.
What is OBITS?
Developed on the OpenLedger platform, the OBITS is a decentralized exchange (DEX) or decentralized financial platform. Holding OBITS entitles a person to become a part owner of the OpenLedger platform. OBITS owners have access to share in the profits incurred by the organization. Hence the token offers holders a share garnered from trading and referrals on the OpenLedger platform. Just like a real life business, shareholders will also be entitled to cast votes on critical decisions made by the issuer. Hence OBITS gains its value from a growing number of revenue streams hosted on decentralized exchange (DEX) OpenLedger. This way its volatility is under check as speculation which powers most of the cryptocurrency’s volatility has minimal impact on OBITS’ trading. CCEDK.com, the Danish registrar for OpenLedger, is continually adding more projects to the list, progressively increasing income, thereby influencing the price of the tokens.
How are OBITS profitable?
More than a cryptocurrency token, OBITS represents the possibility of the OpenLedger platform that has been breaking barriers in the cryptocurrency world. Dubbed as a “revolutionary fintech platform,” OpenLedger aims to offer the advantages of decentralization and control over balances with the speed and capacity of regular centralized exchanges. With high capacity and low latency suitable for the demands of modern-day trading, OpenLedger not only gives users the complete control over their balances that blockchain technology allows, but also the super-fast experience necessary for closing a profitable trade. Hence owning OBITS is similar to buying stakes in the exchange business where currency holders can earn from current and future revenue streams.
Also for amateurs and non-specialists who aren’t very aware of the volatility and risks in the cryptocurrency markets, OBITS is the best investment as the value of the OpenLedger platform is only going up with the advent of so many tops of the class cryptocurrency projects.
Launch dynamics of OBITS and its performance
The OBITS Token originated on December 1st, 2015, with around 20% of the total supply being available for pre-sale. During the pre-sale period, it was possible to buy OBITS with Bitcoin (BTC), BitShares (BTS), Litecoin (LTC), Peercoin (PPC), DASH, DOGE, NuBits (NBT) – always a dollar – and Etherum (ETH) and the fiat currencies EUR, USD, CNY. After the purchase, tokens listed on OpenLedger the Decentralised Autonomous Exchange (DEX). Regular buy-backs on the second day of every month, funded by the exchange’s profits, will provide liquidity for those who want to cash out. These tokens will be then burned, reducing the supply of remaining Obits and increasing their value. With 16,443,700 OBITS currently in circulation, the market cap is now surfing around $36 Million.
What does the future look like for OBITS holders
In the recent times, OpenLedger has launched the crowdfunding of a host of cryptocurrency projects which aim to solve major challenges through disruptive technologies like Blockchain. With the individual project tokens trading on the platform, the revenue stream has been consistent and promising for the investors. Since OpenLedger is the gateway for the next generation fintech solutions, the OBITS tokens are considered precious and aim to provide consistent returns on investment in a timely fashion. With the buyback and burning of tokens happening every month, the token value is bound to go up with time.
Founder and CEO of CCEDK Ronny Boesing says,
“The developers, partners and contributors to OBITS are some of the smartest people I have interacted with in my career. I am very proud to have done my small part in getting this movement going.”
Owning OBITS would indeed mean holding a share of the future.