Sun (New) (SUN) has attracted a lot of focus within the cryptocurrency space, particularly in the current year as the prices, as well as the demand for the currency skyrocketed. At date of writing, the price of SUN is $0. 0382 indicating that the percentage of response of this type is a massive 60%. Seven days: 16% rise; 12 days: 23% increase; 24 hours: 34% boost. Such a rapid increase also stresses the increasing demand for SUN and its prospects as the new asset in the sphere of cryptocurrencies.
The market capitalization of SUN has also increased tremendously to a value of about $380. 16 million, a 57. 42% increase. This exponential growth in the market cap shows the increase of capital in the SUN with the increased confidence and the increase of the asset class in the market. Despite this, recent performance indicate that SUN is quickly moving up the list of global gaming companies by market capitalization, as of 144th, maybe in the near future being more dominant player.
What is even more interesting is that its 24 trading volume was $563. 12 million. This figure means a 33 per cent increase in student enrollments in the universities and degree awarding institutions of Kenya in the year 2002/2003. A rise of 81% indicating that there was a highly increased trading activity, more investors were likely to trade, in a bid to take advantage of the most recent arising prices.
Volume/Mar ket Cap ratio was 151 meaning that the market value of the companys shares was smaller than the volume of trades made in them. 24% is very high touching up the fact that volume is surmounting to market cap which can sometimes be associated with high volatility or a lot of speculative activities in the market.
To date, the circulating supply of SUN is 9. 95 billion SUN in circulation out of the total offered amount of 19. 90 billion SUN. Since there is no cap on the maximum supply (–), this implies that the total supply may go up, and that’s about a long-term value from the asset. Therefore, relatively to the total supply, the circulating supply is rather limited, meaning that there can be potential for expansion – which might affect market conditions when more tokens are introduced to circulation.
The fully diluted market capitalization is at $744 for SUN. 56 million and assuming all tokens are in circulation, then it will command an even high price. This figure gives an idea of how SUN might be in the future as more tokens are issued to the public under the existing market setting.
Recent spikes on the price and trading volume of SUN could therefore be as a result of factors such as hype, speculation and possible ongoings with the project. A project called SUN is also presented in the TRON ecosystem, which, thanks to cooperation with one of the largest blockchain networks, has received great advantages. This linkage probably helps to explain it, especially given the fact that investors in it might already be well – acquainted with the capabilities and opportunities offered by the TRON system.
However, the justifiable elevated SUN’s Volume/Market Cap ratio also points to flexibility indicative of high risk of price fluctuation that can be associated with the asset. However, the activity here is somewhat elevated in terms of trade volume to market capitalization, which may suggest short-term trading more than long-term holding, which may be volatile when market sentiment changes.
All in all, Sun (New) (SUN) has never been in the phase of high growth and the coin has been rapidly increasing recently due to high expectations and tie-in with the TRON project. Nevertheless, one should recall the high level of fluctuations and the absence of a fixed limit on the number of assets in circulation in instances of deciding on an investment in the asset. As SUN keeps growing it becomes more so important for it to be able to support this growth and become a steady source of value to the business.
+ There are no comments
Add yours