Still, today, we witness an astounding BTC value hike and the Chief of Deswamp (COD) token rise by 450.18% in the past day and garner the crypto community’s attention. This exponential growth has taken this token to $0.002656, making it one of the most traded tokens in the digital asset market today.
Having climbed to 2792 position in the worldwide cryptocurrency market cap, the COD token has reached a total value comprising 18445 400 USD. COD has bagged huge popularity and a remarkable increase in trading volume; it doubled in 24 hours, and $19.29 million worth of COD was traded. Trading activity also looks good, with the volume-to-market cap ratio coming in at 10.47%, meaning there is always a good amount of trading on VET tokens in relation to their total value.
It’s low ranking notwithstanding, traders have developed an intense interest in an internet entity, Chief of Deswamp, that promises untold fortune in the digital currencies market. COD token circulating supply, as well as the total supply, is limited to 69.42 billion tokens. This openness about the token distribution might have helped the investors because it defines how rare this asset may be and whether it can be valuable in the future.
It has also determined the fully diluted valuation (FDV) of the Chief of Deswamp to be $184 36 million, implying that the token price currently incorporates a potential supply of the tokens. Such a correlation between market cap and FDV is considered to be rather a plus sign by some of the analysts for the simple reason that it does not distort the situation – it could mean that on this chart, we see a better representation of the token’s value in the market.
As is the case with any cryptocurrency with such extreme volatile price flunctuations a word of caution is advisable. The crypto market is extremely turbulent, and even assets that undergo such impressive growth can quickly experience similar declines. Any potential investor should invest time and effort into researching his/her target company or commodity and should be aware of the dangers of investing in such high-risk categories as digital assets.
As for the reasons for the sharp increase in the price, the Chief of Deswamp’s information is still very unreliable. While some market observers have tied it to improved notice on social media. While others attribute this to certain project initiatives or venture that have not been fully unveiled not necessarily due to skepticism. In any case, the token’s performance has surely raised eyebrows in the crypto space out there.
Having tokens like Chief of Deswamp in the selection helps to understand that the market in its digital assets is diverse and capricious when small projects can quickly gain value and become famous. Whether COD can continue to trade at high levels and if it will make the cryptocurrency market its home, only time will tell, but with the success of such currencies and tokens as Bitcoin, Ethereum, Litecoin, and others, it seems to be a worthwhile venture at the very least, which is quite typical for the Crypto market.
