Cryptocurrencies are still in the developmental phase with numerous tokens endeavouring to capture as much attention as possible. One such contender is GP Token, generally referred to by its ticker XGP, which has has garnered attention in recent days among pure-s speculation and crypto aficionados.
XGP is at present ranked 4729 in the market, and the prices are $0.00002999; the coin demonstrated a 7.87% increase in the last 24 hours. As a result of this upward movement it has attracted much attention from traders in search of high growth stocks with market capitalization in the lower end of the spectrum.
Having a market capitalization of approximately $ 15 million, GP Token became a player in the vast sphere of cryptos. Thus, it seems reasonable at this level to allocate a lot of space for further development if only the token will become popular. The fully diluted valuation (FDV) also aligns with the current market cap, ORE token is in circulation.
Trade volume in XGP in the last 24 hours is $14.85K; this is a relatively low figure that can be interpreted to mean a lower volume of trading. An even stronger indication of the token’s current status as a low-volume asset is the volume-to-market cap ratio of 0.09904%. If applied to potential investors, they could have certain chances and threats, and when the liquidity is low, it causes higher volatility of the stocks’ price.
While its contraction, GP Token, has a circulating supply of 100 billion XGP and a maximum supply of 500 billion XGP. In a curious way, the self-claimed circulating supply corresponds to the indicated number, meaning the total supply is in the market. Such absence of token scarcity may affect future prices as there is no preprogrammed effect of token shortage.
To this end, the project behind XGP is designed to become a real economy based cryptocurrency that targets the real-time payment solutions for the everyday consumer. GP Token will run on EOS blockchain and the tokens will have transaction speed and security in mind.
Yet, as with any other new cryptocurrency, the potential investor should be cautious. The success of the specified project will thus, to a larger extent, depend upon the level of acceptance and compatibility with current payment solution sets. Also, it is important to point out the role of governmental regulations and people’s attitudes towards a certain product or service for the future evolution of XGP.
That is especially true as the crypto market evolves and tokens like XGP have to compete with similar tokens and demonstrate their sustainability and relevance going forward. Despite the week’s rising value that may interest short-term speculators, the continued success of the token will depend on it being able to deliver utility in the real world and retain the interest of investors at a glance.
As often happens with digital assets, GP Token is yet another project that is trying to find its place in the market. Whether it will come to the foreground and lead or vanish into forgetfulness, the future has a way of telling. Nevertheless, for now, it remains proof of the steady development and expansion of various possibilities that surround the world of cryptocurrencies.
