To many people’s contrary expectations considering the volatility of the digital currency market, the value of Socrates (SOC) has extraordinarily boosted. This relatively unknown digital asset has draw the interest of investors and traders in the market. Currently valued at $0.02213, the coin has seemingly soared by 20.17% in the last twenty-four hours, which is a success rarely seen across many digital currencies.
Socratic has now achieved 3014 on the cryptocurrency market list with the help of the Ticker SOC, which indicates its increasing role in the digital asset market. In terms of market capitalization, this philosophical token has a circulating supply of $12.90 million to date as more and more people embrace and invest in the coin. However, SOC has been able to sustain a steady position regardless of the fluctuating market, with the market capitalization feature stagnating in the current and previous trading sessions.
Perhaps the most significant feature of the recent performance of Socrates is the marked rise in its turnover. In the last 24 hours, the coin was traded with an impressive 53.34% of turnover of $1.10 million. This increase in trading volumes signals that growing user and institution interest from the retail base is present and is interested in this coin and its possibilities for appreciation.
In particular, Socrates’ total asset FDV is $221,310,900, which indicates the great prospect for its growth and development. Unlike other valuation techniques that only consider tokens that are currently in circulation, this valuation takes a bird ‘ s-eye view and gives value to all the tokens that have not been sold. The large disparity between the two suggests that the market cap of the SOC token can grow in the future, and more people will adopt this technology.
One is the volume-to-market cap ratio, which currently stands at 8.49%. This figure shows that the rate of selling and buying the specified coin is normal in relation to its total worth. A higher ratio tends to be fuelling from the side of traders, which leads to better price stability and less price fluctuation in the long run.
The total quantity of Socrates tokens in supply is 583 million SOC as well as the same figure reported as the self-reported circulating tokens. This transparency of the token distribution team is healthy for investors only because this shows that the crypto has its economy. However, this is something essential because it shows that the maximum supply of SOC is 10 billion tokens that can increase further in the future and distribute the asset.
