Here Is Why Ost (OST) Did over 200% in Gains In Under 3 Hours

Early Tuesday morning found Ost (OST) trading at approximately $0.044. About 3 hours later, the digital asset was valued at $0.133 and doing an enormous 202% in gains during that time period. The digital asset is now trading at $0.05 on the back of the overall Bitcoin crypto selloff. OST’s price chart during the remarkable price pump can be seen below:

OST Price performance. Source, coinmarketcap.com

So what was the cause of the 202% jump?

Further inquiry as to why OST jumped by 202% in such a short period reveals that the digital asset was listed on the South Korean Exchange of Upbit today, August 7th, 2018. The announcement released by the team at OST read as follows:

“We are pleased to announce that as of Tuesday 7 August 2018, OST is now available for purchase on Upbit, one of South Korea’s largest exchanges. OST is already available on Binance, OKEX and Huobi.”

The team at OST also revealed that the project’s founders will be attending next month’s UpBit Developer Conference that is scheduled for the 12th of September up until the 14th of the same month. The announcement explained that:

“Coinciding with the listing of OST on Upbit, OST founders Jason Goldberg (CEO) and Benjamin Bollen (Chief Blockchain Strategist) will be speaking at next month’s Upbit Developer Conference on the island of Jeju, South Korea.”

The additional news might have been a factor in the digital asset experiencing such exciting activity in the cryptocurrency markets.

So what exactly is OST?

OST is a public blockchain platform for businesses where you can launch your own Branded Tokens without the need to mint and maintain your own publicly-tradeable EIP20 tokens. The OST protocol supports the token economies in mainstream consumer applications.  It is a project of OpenST Ltd and OST.com Limited and operates as a non-profit. The blockchain has millions of users and the OST project has the ambition to bring blockchain technology to the mainstream by providing developers and companies with the software solutions to stay up to date with the new technology.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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