By Ido Fishman
With the security token sector suffering double-digit capitalization loss, real estate token sector has gained up to 4% in profits throughout April. Investors in the real estate tokens have continued to enjoy the profits from the assets with investors in the security token sector yet again rue their loss in the market. The loss of the security tokens saw it fell a massive 8% in total; one of the worst performance posted according to a report submitted by the security token group.
Real Estate Tokens Experience Massive April Gains
Real estate tokens markets enjoyed maximum gains as a result of the profits of the single market that saw Patton St, Lesure st and Detroit based Appoline st enjoy report profits in their monthly volume analysis. Trading activity in Appoline st recorded double patronage record a $25,000 sale and a 1.37% gain. While Patton st recorded $10,600 with a $1.81% price gain, Lesure st recorded a $6,042 and 1.75% gain. With trading activity recording a massive fall, tokens for homes on Fullerton Ave, Auboden St, and Marlowe St recorded price gains of 8.74%, 7.19% and 4.78% respectively. With the property tokens remitting double digits interests annually, the returns of investors were reported to be around 6% averagely across the real estate sector.
Also read:tZERO Records Loss As Trade Drops By Half
The security token sector loss was further highlighted by the loss of tZERO, which recorded a 16.5% drop and coincidentally represented 43% of the entire sectors market capitalization. tZERO saw its assets fall by half after $125,500 worth of the asset was exchanged during April. The fall witnessed in the market occurred after Overstock planned to distribute digital dividends to its shareholders on May 19.
The move will see Overstock distribute one token for every ten shares held by its investors. Overstock announced the development during their monthly earnings call on May 7, which will see them list traditional tokens on tZERO exchange. The firm further stated that tZERO customer base had grown way over 40% in the past few months with no less than 6,000 new sign-ups recorded on the platform in April.
Market analysts are saying that majority of the population are choosing to put their weight behind the real estate sector because it is the only sector that looks realistic at this Coronavirus time. Meanwhile, investors are hoping that the Bitcoin halving event that is scheduled to occur might have a positive effect on the real estate sector in the coming days after the halving.
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