Among numerous tokens, there is a rather unknown token called S that recently attracted attention of users during several days. S is currently listed at $0.085176, seeing a growth of 2.20% in the prices over the last one day and attracting the attention of old investors as well as new buidores to the market.
Market cap is equal to $2.72 million, and even though token’s price has changed recently, its value has not significantly increased or decreased. This stability in the market cap indicates there is increasing awareness of S that has not yet translated into large amounts of money flowing into the stock. However, the increase in S’s recent trading is likely to be the most astonishing feature of its performance.
Indeed, at S, trading volume has increased dramatically by 415.99% within the last 24 hours and was equal to $116,070. The following monthly chart of token trading volume demonstrates this significant increase: The over 100-fold jump in trading volume suggests that traders are exploring the token more than before and, thus, could be a precursor to a stronger price rally in the near future. It may, therefore, be said that trading activity is even more intense than suggested by the 9.25% volume-to-volume ratio, which is further evidenced by the volume-to-market CA ratio of 4.26%.
There is a great supply for S, which is one of the most interesting features in the table. As of this writing, S currently has a total circulation of 529.18 trillion tokens with a maximum supply ceiling of 1 quadrillion, which wreaks irony in a space where scarcity is equated to utility. Thus, the authors of which the self-reported circulating supply is 527,48 trillion S tokens, suppose that the majority of S tokens are already in circulation, which can affect the further dynamics of the price and the distribution of tokens.
The total value of S using the FDV model is $5.18 million, a measure used to estimate the current market capitalization if all tokens are in the market. This figure gives the investor a view of the token, in terms of some long-term value (though at constant supply and ratio of supply to demand), if and when market values are difficult to ascertain.
Still, as impressive as S’s numbers are, it is important to look at the token through the lens of the entire crypto market. Thus, S still is just a microcap participant in the global crypto market standing at $2.23 trillion. Still, such accumulation imposes the presumption that it has been achieving its recent high ground due to high trading volumes, perceiving it as the next altcoin market darling for traders and investors.
In the same way existing cryptocurrencies potential buyers should be wary of buying S without conducting a lot of research. Since the token is very cheap and tremendously supplied, the token price is quite volatile, always experiencing fluctuations either upwards or downwards. Second, fog computing has not yet gained significant public awareness, and many people may not be familiar with the basics and possibilities of the project.
Still, this is quite possible due to high volatility of cryptocurrencies as well as the ability of the relatively unknown tokens to shoot to the limelight overnight and gain much more attention and, therefore, value. The days and weeks that follow will define whether S will be able to continue this current uptrend and maybe even start to signify some increases in the altcoin market recognition.
S will become one of the tracked assets for investors and traders when they follow its price behavior, volume, and any updates to the project. This makes it possible for the token to achieve further growth in the price level and boost its market recognition if it can maintain gaining the trading interest it has recently received.
However, I would like to stress that the position of cryptocurrency remains virtually unpredictable in the global market. Yeah, S’s current rise is good for holders of the token, but future buyers should be careful and invest only the money they are willing to lose.
When the given crypto market is constantly moving and developing, tokens such as S are important to keep in mind that the choice of that sphere can be vast and may contain various types of opportunities and threats. As to whether S will become one of the permanent features of the crypto market or just disappear into the background – only time will tell, but its recent results have attracted the attention of many fans of digital currencies and those who are searching for the next big thing in the era of cryptocurrency.
