Layer3 (L3) has experienced a remarkable 9.55% price increase over the past 24 hours, bringing its current trading price to $0.07997. This surge indicates a significant uptick in investor interest and positive sentiment towards Layer3 in the cryptocurrency market.
With a market capitalization of $29.56 million, Layer3 is currently ranked 2583rd among cryptocurrencies. The market cap has seen no significant change in percentage terms, reflecting a recent increase in price without a proportional rise in market cap.
This relatively low market cap suggests that Layer3 is still in the early stages of its market journey, with considerable growth potential.
The trading volume for Layer3 has surged to $51.06 million over the past 24 hours, marking a substantial 37.24% increase. This elevated trading volume highlights a growing level of market activity and interest.
The volume-to-market cap ratio stands at an impressive 172.74%, indicating that trading activity far exceeds the market cap. Such a high ratio suggests strong liquidity and significant trading interest, which could be a precursor to further price movements.
Layer3’s self-reported circulating supply is 369.62 million L3, which represents 11.09% of the total supply. The total supply of L3 is capped at 3.33 billion tokens, and this is also the maximum supply.
The current circulating supply relative to the total supply implies that a considerable portion of the tokens is yet to be released. This can affect future market dynamics as more tokens become available.
The fully diluted market cap of Layer3 is reported at $266.57 million. This figure represents the market cap assuming that all possible L3 tokens are in circulation.
The difference between the current market cap and the fully diluted market cap reflects the potential for future valuation changes as additional tokens are released into the market. Investors often consider this factor when evaluating the long-term prospects and value of a cryptocurrency.
The 9.55% increase in price within a single day demonstrates a period of significant momentum for Layer3. This growth, coupled with the rise in trading volume, indicates a surge in market interest and activity.
Various factors, including market trends, technological advancements, or broader economic conditions, might be contributing to this positive sentiment and influencing Layer3’s recent performance.
Layer3’s position as a lower-ranked cryptocurrency with a substantial price increase and high trading volume underscores its potential for growth and increased market presence.
The current market dynamics, including a significant volume-to-market cap ratio and a substantial portion of the total supply yet to be circulated, suggest that Layer3 is in a phase of active development and market engagement.
Overall, Layer3’s recent performance highlights its potential and the growing interest from investors and traders. The notable price surge, strong trading volume, and high liquidity indicate a period of positive momentum.
Monitoring the factors driving these trends and staying updated on future developments will be essential for stakeholders navigating the cryptocurrency market. As Layer3 continues to evolve, its market position and growth prospects will shape its trajectory and impact within the broader crypto landscape.
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