Open Trading Network is revolutionising trading cryptocurrencies by offering a cross blockchain platform to the marketplace — a first to the crypto trading sector.
Positive Market Reaction
After the 1st emission, October 16th, The value of OTN tokens has ascended rapidly — reaching a market capitalisation exceeding over 40USD million in the first few weeks of trading and with only 1.7 million OTN tokens in circulating supply out of a total potential circulating supply of 80 million OTN tokens. This, alongside fast- growing trading volumes, is a sign of a positive market reaction.
Market participants recognise that this crypto launch is offering a solution to a problem that has been growing for crypto traders, especially through the course of 2017. Specifically, OTN offers the ability to trade between cryptocurrencies simply and free from unnecessary paperwork and delays.
A further feature that has received positive reactions from the market is that the crypto launch has been ICO free. ICOs have been developing a bad reputation of being high risk and based on superficial purposes. OTN on the other hand, has not sought any external funding and has been backed by the well- recognised IQ Option trading platform. OTN has also presented a valuable use case for their platform and a well-defined purpose and plan within their whitepaper.
The team behind OTN began distribution of OTN tokens on Monday October 16th, 2017. OTN will continue issuing these tokens each Monday for 104 weeks moving forward in accordance with the schedule that rewards IQ Option traders with free tokens based on the amount of crypto trading the trader completed in the previous week. During the first week, 350,000 OTN tokens were distributed to traders using the IQ Option platform for trading crypto instruments and subsequently OTN tokens began trading on crypto exchanges for external free market sale and purchase.
37,500 tokens will be distributed next Monday 27th November 2017 and 105,676 users have already received OTN tokens. These users are already successfully capturing the benefits of the OTN platform and cryptocurrency and interest in the platform and its features has been growing from strength to strength.
OTN Token Benefits — Pay for Commissions in IQ Option
These 105,676 users have received their OTN tokens as a free reward for their trading activity and are now able to exchange OTN tokens for OTN coins at a ratio of 1 to 1. The OTN coins can then be used towards paying for commissions for future cryptocurrency trading on IQ Option.
OTN Token Benefits — In Open Trading Network
After users have converted OTN tokens to OTN coins they can also use these coins for paying for transactions in the OTN network, to sign blocks of transactions with the Proof of Stake consensus algorithm or as collateral within the depository.
OTN Token Benefits — Free to Trade on Exchange
In addition, these 105, 676 users can choose to with withdraw their OTN tokens from the platform and sell them on exchanges. OTN tokens are now freely available to buy and sell of three large cryptocurrency exchanges: Livecoin.net, Cryptopia and Yobit.net.
Alongside the many other benefits and solutions OTN offers, these factors have contributed to a rapid ascent for OTN in its first 5 weeks of operation.
Here we consider 5 factors that have already contributed to the success of free trade in the cryptocurrency to date and will continue boosting the popularity of OTN project, thus powering the token.
Why OTN Token Price is Not Final
1) A Game Changing Solution
The most attractive feature of the OTN platform is the strategic vision of the team to provide a solution to a growing problem from crypto traders. OTN are offering a solution to traders that is long overdue — cross chain trading. This element in itself is appealing for token holders as trading volumes grow in size and diversification across the entire digital asset universe. OTN have defined a specific pipeline that clearly demonstrates the value of the platform and as such the value of the OTN token. By offering cross-chain trading OTN eliminates a huge swathe of form filling, security checks and delays in trading.
2) Thinking Big
However, OTN will not be stopping at providing this initial solution alone. OTN has a vision to offer a far broader range of valuable solutions to the segment — such as giving businesses the ability to create their own token and launching an OTN decentralised exchange (scheduled for April of next year). In addition, OTN are offering platform users convenient, secure and accessible bolt-on solutions — such as the OTN wallet to consolidate all digital asset trading into one environment.
3) Growing List of Trading Venues
Although OTN tokens are released into the market by weekly emission as a reward to cryptocurrency traders on the IQ Option platform, after receiving OTN tokens, traders can transfer them to their wallet for external trade on exchange as they see fit. The list of trading venues has been growing — now including, Livecoin.net, Cryptopia and Yobit.net — providing growing liquidity to OTN token trading and helping the token gain traction in the free market. A number of major exchanges are expected to list OTN within the following month.
4) No External Finance
Traders and investors in digital assets have become put off by companies backed by ICO (initial coin offering). ICOs are considered risky and often less than transparent about what purpose capital will be put towards. OTN, on the other hand, has received no external finance whatsoever — the platform has been backed by IQ Option (a well-known, highly regarded trading platform). This is a positive indicator to market players who perceive this source of financing as a sign of credible leadership and robust fundamentals.
5) Underpinned by a Solid Skills Base
The OTN team has demonstrable expertise backing the project — creating positive sentiment in the market towards the value of OTN tokens. The OTN platform has an operational workforce of over 550 professionals working on their trading platform. The OTN platform has also maintained a demand driven focus in implementation — supported by working in partnership with IQ Option, a company which has over 20,000,000 users and a reputable track record.
Warning: Investing involves a high degree of risk.
*IQ Option is a brokerage company and does not provide OTN tokens to clients. All tokens are provided by the OTN foundation. The OTN foundation confirms that it does not sell OTN tokens and that the activity is non- commercial.