tZERO Is Live, But Volume Is Light and Its Token's Price Is Down Sharply

According to traders in a dedicated Telegram chat, daily volume has fluctuated between 7,000 and 23,000 units of the platform's own tZERO Preferred token - the sole listed asset for now.

Approximately 15 percent of the tZERO users now are newly registered traders who didn't participate in the STO but came to the platform after the launch, the company's CEO Saum Noursalehi told CoinDesk.

Dinosaur didn't answer CoinDesk's request for a comment, redirecting the question to tZERO. Earlier, tZERO CEO Saum Noursalehi told CoinDesk that Dinosaur had been struggling to process all the clients' requests in time as the KYC checks were conducted manually, but tZERO had been working with the broker to automate and speed up the process.

While the experience so far may be underwhelming, none of this is to say traders have given up on the grand vision for tZERO first laid out four years ago by Overstock CEO Patrick Byrne.

Quite on the contrary, they expect activity to pick up, and the token's price to rise, when trading is opened to retail investors, once the company becomes or acquires its own broker-dealer, which tZERO's CEO Saum Noursalehi previously told CoinDesk will happen in late summer.

"The bigger question is if tZERO can interface with other brokers and exchanges and the answer is yes, that's the plan," Fenton assured the traders in the Telegram chat.

Aside from more traders, tZERO also hopes to get new assets on the platform soon.

It's worth remembering that Overstock is working to sell its flagship e-commerce business to raise cash it can invest in its portfolio of blockchain startups, of which tZERO is the most prominent.

"tZERO really isn't launched. This platform is just for tZERO holders and other accredited investors to trade TZROP only. My understanding is the actual platform will be totally different. I imagine the experience to be better as well."

Image of tZERO booth at the North America Bitcoin Conference via CoinDesk.