Optitoken Insider: First Buy Back Leads To a 400% Price Surge!
Opti has achieved a major milestone its in road to success, measured by adoption and stability. Distribution to all ICO buyers has been completed successfully and the token was listed on BTC - Alpha (https://btc-alpha.com) where it opened strong, hitting 4.76$. Temporarily OptiToken reached a market capitalisation of 471 million, leaving it at number 35 in the global crypto ranking. Since then we have seen we a high demand and look forward to operate in a strong market.
The traded volume remain on a high level, demonstrating an interesting level of trust in a growing community. Also Optitoken is already listed on CoinmarketCap, however the market conditions subject to a high change therefore the datas is not always up to date.
Token Buy-Back and Burn
As determined in its roadmap, OptiToken executed its first buy-back cycle with trading profits, leading to a surge in price of approximately 400% at BTC - Alpha! The tokens bought back (91,167 Opti) were burned, leaving a total supply of 99,908,831 Opti.
These strategic buys will take place regularly from now on, and increasingly once the algorithm is fully functional.
The transition from the ICO to daily business was smooth, and to provide the success and grow according to the roadmap we are building a long term team.
In this context, it is a pleasure for us to announce Matthias Schatten as Executive Assistant. He will support our operating business, manage ad hoc projects and assist executives when needed.
The next step is to ramp up our external communications, regularizing and professionalizing our accounts. For this Torben Pütz will take over duties of Community Management of our different social media forums.
Please welcome both of them!
On the horizon, the Opti X algorithm will have its completed state-of-the-art user interface (UI) by the end of August, and will be able to start executing trades automatically. It will use the same effective trading strategies that kept the Opti test portfolio up to 60% above bitcoin during the last bear market. Profits in each buy cycle will be reinjected into the Opti market and all tokens bought will be destroyed transparently, reducing supply and increasing value for holders.
Optitoken is the first algorithmically traded, hyperdeflationary currency, that derives its value from a carefully curated token basket. Profits from the automatic trading of the portfolio are used to regularly buy Optitoken on exchanges, creating buy pressure and volatile price action. These tokens are then destroyed, creating further value. Our ICO is open to buy the initial token basket.