NOOOO entered the market quite recently but was actively discussed by investors and fans of cryptocurrencies. This new digital asset comes to the fore with fresh idea and finite quantity, and uses all this to have a shot at the continuously transforming market of cryptocurrencies. Currently trading at $0.004979, it can already be said with certainty that NOOOO has started to stir up in the market even though it holds only the #4393 rank in terms of market cap.
As of now, the combined market value of all NOOOO coin is approximately $ 4,967,488, which does not seem very spectacular in comparison with other cryptocurrencies. Still, this number is only the initial phase of NOOOO’s presence in the sphere of cryptocurrencies, therefore, many users are expecting the growth of its result. This also proves the current level of interest and trading activity around this new coin; as suggested by the 24 trading volume of $21,460 AUD with an even higher gain of 87.59% within the last one day only.
However, one of the major features of NOOOO, which makes it so rather fascinating is its scarcity. Furthermore, like most cryptocurrencies, the maximum number of NOOOO tokens is definite at 997,771,479 tokens which is also the total supply. This scarcity factor could create a higher demand and value in the future because normal investors see limited supply cryptocurrencies as much valuable due to scarcity. It remains unknown what lies behind the fact that the circulating supply is equal to the total and max supply – it is possible that all NOOOO tokens are currently in circulation, which may create certain market conditions in response to the growing demand.
Total supply of the NOOOO tokens fully diluted market capitalization is $ 4 967 488; What we are seeing here is that current market cap aligns with fully diluted market cap which shows that all tokens are circulating in the market and thus no future dilution of token value due to release of more tokens as a possibility.
The appearance of NOOOO is not yet fully developed; however, the market for it has not remained unnoticed. The token has recorded a very minimal and steady bullish momentum of 0.02% in the last one day which is quite acceptable. Although, it is crucial to remember that the cryptocurrency market is relatively volatile and the new coins often have big price swings, while trying to find their position in the market.
Currently the volume to market capitalization ratio of NOOOO is 0.43% and this is a very low figure. Traders and analysts employ this ratio to measure the levels of liquidity as well as trading volume of a cryptocurrency against its size. A possibility of a lower ratio may suggest that the token is not well known in the market, and this could have its benefits and drawbacks in the process of investing in it.
Any investor interested in NOOOO should know that the cryptocurrency is relatively new and that due diligence should be used. The given crypto market is highly considered to be very risky but at the same time very rewarding, this makes the entrants such as the NOOOO be more risky. One cannot do without taking time and analyzing the project fundamentals, team and/or vision for the future of the project before any investment opportunity is considered.
The enlargement of NOOOO as a cryptocurrency to the market creates a variety to the existing digital currencies for investors. With the expansion of the crypto ecosystem, innovative projects like NOOOO affect the progression and rivalry in the industry positively. Whether NOOOO can climb the ranks to become a key player in the crypto sphere is yet to be determined, though a combination of the limited supply and a quite different concept clearly has attracted the attention of many people within the community.
The problem which grows with time is the issue of differentiation since more coins will be introduced to the market and NOOOO is not an exception. Thus, the main challenges for NOOOO, which will largely determine its success, are the opportunities to provide new and different value propositions, the development of the community, and specific application added value. As in many industries, only the future will tell if this new player will be able to sustain a long-term market presence in this fast-moving and highly competitive industry.
