Flayer operates under the FLAY ticker, and this company has just joined the cryptocurrency market, which attracted investors and enthusiasts. This new digital asset has already started gaining much attention and the current price of the token is $0.0244 up by 2.06% in the last 24 hours. Thus, as the field goes on to develop, Flayer has emerged to be a viable contender in this vast expanding field of the crypotocurrencies.
As of now Flayer has the market capitalization of $13.17 million so it is ranked #5870 among all the cryptocurrencies. This shows that the market cap of the coin in question is still comparatively low, which means that the coin remains uncharted territory with lots of growth potential. The trading volume over the past 24 hours has arrived at 1,317.67 dollar, which shows an impressive rise of trading volume by 96.39 %. This proves that there is a higher demand for the token and more liquidity that is important for the long run viability of the token.
This is it where Flayer has differentiated its token supply structure, which has some connections with the elimit process. The circulating supply according to the FLAY token holders’ report is 540,000,000 FLAY, which is 54 percent of the FLAY total supply. The total supply and maximum supply of FLAY tokens are set at 1 billion; thus, such a view will positively influence a growing interest in the project as it becomes increasingly popular. This kind of fixed supply model is similar to Bitcoin and many other popular cryptocurrencies that are looking for value through scarcity.
The fully diluted market capitalization of Flayer based on the maximum supply of token is $24,400,000. Such a figure helps in understanding how the project might be valued if each of the tokens was made available. This valuation may vary as more tokens are created and the project progresses, which will indicate the general attitude of the community to the Flayer ecosystem.
It’s also important for readers and potential investors to study the concept behind Flayer use case and its technology as the information given did not reveal this aspect of the project but it is possible that the team conducted extensive research and created a comprehensive plan through its road map as stated in the Flayer whitepaper. Most fresh tokens and coins introduce themselves into the market as solutions to various issues or as having features that differentiate them from others.
The cryptocurrency market is already unpredictable and sensitive to changes in the market and so is Flayer. This is evident in the current 2.06% price rise in the last 24hrs to show the volatile hike and drops tied to most cryptocurrencies which are influenced by market sentiments or activities, specific project updates or the general market trends. Any person that is investing should always be careful and also do his/her own research before investing.
Since Flayer is still forming its place in the market, the project will also need to create a community to support it, partner, and show tangible applications. Most of the cryptocurrencies in the marketplace have been Sm successful due to the application of new concepts, proper marketing and sales hosting, and of course due to the existing and emerging problems in the digital economy that the given cryptocurrencies aim to address.
With a volume to market cap ratio of 0.01 percent, it can be inferred that Flayer has not yet even started really trading at the moment. It is perhaps worth mentioning here that as the project gets more attention and more and more users join depending on the success of this project this ratio may improve with better liquidity and price discovery at higher levels of usage.
One thing that should be clarified – the competition in the cryptocurrency market is rather intense, and today, there are thousands of projects that aim to attract investors’ attention. Flayer also seems to have many limitations that someone must be solved to make this currency really valuable for everyone, For Flayer to succeed in the long run, it will need to add features that will set it apart from any other type of currency and offer value to users and investors. This may mean incorporating aspects of technology not yet incorporated, affiliate relationships with well-rooted companies or institutions, or finding new opportunities to meet unexploited market needs.
Like in any other new token or cryptocurrency, one should know the risks associated with it. The crypto market has always been an unstable market with frequent changes in the value and frequent government policies changes. It’s always wise to use money that one can afford to lose and also ensure that the funds are spread out in various types of securities and industries.
Therefore, Flayer is a promising player in the newly emerging cryptocurrency market. Which from its recent prices status, increasing trade volume, structured token offering it will likely to occupy its own specific market niche in the crypto world. But similar to all other cryptocurrencies, especially those that are relatively new, the future success will be contingent on such aspects as technological advancement, market acceptance, and general crypto market environment. This will definitely be an interesting experience to watch how Flayer handles the opportunities and risks within the emerging market of cryptocurrencies as the project progresses.
+ There are no comments
Add yours