OBITS (CURRENCY:OBITS) traded 11.3% lower against the dollar during the 24-hour period ending at 22:00 PM ET on March 7th. One OBITS token can now be purchased for about $0.44 or 0.00005446 BTC on cryptocurrency exchanges including OpenLedger DEX and Livecoin. In the last seven days, OBITS has traded 22.7% lower against the dollar. OBITS has a total market capitalization of $6.97 million and approximately $6,796.00 worth of OBITS was traded on exchanges in the last day.
Here’s how related cryptocurrencies have performed in the last day:
- Ripple (XRP) traded 17.5% lower against the dollar and now trades at $0.66 or 0.00008277 BTC.
- NEO (NEO) traded down 20% against the dollar and now trades at $67.66 or 0.00852362 BTC.
- Stellar (XLM) traded down 21.8% against the dollar and now trades at $0.23 or 0.00002901 BTC.
- IOTA (MIOTA) traded 20% lower against the dollar and now trades at $1.08 or 0.00013605 BTC.
- Tether (USDT) traded 0.3% higher against the dollar and now trades at $1.00 or 0.00012653 BTC.
- TRON (TRX) traded 17.7% lower against the dollar and now trades at $0.0297 or 0.00000374 BTC.
- VeChain (VEN) traded 20.4% lower against the dollar and now trades at $3.59 or 0.00045215 BTC.
- Binance Coin (BNB) traded 15.9% lower against the dollar and now trades at $8.66 or 0.00109066 BTC.
- Walton (WTC) traded 7.9% higher against the dollar and now trades at $22.77 or 0.00246724 BTC.
- Populous (PPT) traded down 19.9% against the dollar and now trades at $15.26 or 0.00192242 BTC.
According to CryptoCompare, “Obits is more than just a Crypto Currency – it is a token of ownership. Although innovative in its nature, the Obits Tokens were sold off market prior to December 2015 from the creator, CCEDK, and allocation during the Genesis block – after the first of December OBITS is gradually being released onto the market. That said the Crypto Asset/Token is essentially a pathway to gaining exposure to the nascent crypto space. The Obits token denominates ownership in a profit sharing arrangement between various organisations such as Openledger, CCEDK exchange, Biteaser advertising platform & ShareBits. At the time of writing only openledger is actively contributing towards the Obits Token profits. Please see the technology page to understand more about how openledger profits are generated and used to buyback obits. All transactions made on the platform are verifiable on the blockchain. Any user can therefore audit the profits generated by the company in real time. Since the blockchain ensures full transparency, unlike conventional banking systems, stakeholders and shareholders will be able to ensure they are not being cheated. This will also add a novel dimension to share trading as it will allow for real time disclosure of Company revenues. The Obits buyback program will occur at regular intervals, just like government bond auctions, with the first in February 2016. The idea is that out of the 18,276,898 issued at launch the profits will then be used to reduce the number of coins in supply – like a traditional stock buyback if the number of shares is reduced then the value of each share will be increase. The opposite could be true too with dilution taking place if the network of Companies involved decides to add other Companies to its network and justify it with the addition of further OBITS. As it is a essentially a stock crossed with an affiliate agreement depending on the future profits of a group of companies – there is high levels of risk involved. But again an innovative and novel idea as in most jurisdictions the heavy compliance costs for widows and orphans investments have been bypassed in a crowd funding manner using Crypto Asset Technology based on Bitcoin. “
Buying and Selling OBITS
OBITS can be purchased on the following cryptocurrency exchanges: Livecoin and OpenLedger DEX. It is not presently possible to buy OBITS directly using U.S. dollars. Investors seeking to trade OBITS must first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy OBITS using one of the aforementioned exchanges.
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