As you may have expected is an unexpected note to the growing world of cryptocurrencies; a new player takes the stage during the holiday season. Bad Santa using the symbol XMAS in the stock market is also getting the concerning investors and crypto fanatics. Due to the implementation of Christmas theme and positive outlook to its market, this asset is gaining its spotlight among all the continuously emerging decentralized currencies in the sphere of blockchain.
At the moment one Bad Santa costs $0.002459 and the coin risen by 4.34% within the last 24 hours. This has raised the interest of the traders seeking to make quick money from the very risky cryptocash market. Also, the given coin demonstrated a high performance that is especially remarkable at the moment and the more so given the current economic conditions and specific unpredictability regarding the prospects of the digital assets market.
The overall market value for BADSANTA is currently $239,820, a relatively small number, although significantly larger than the current value of many cryptocurrencies These results indicate increasing demand for smaller, highly specific cryptocurrencies. This market cap is given on the basis of the total outstanding supply of XMAS tokens which is a fixed 100 million and which is also up to the supply cap for the coins. The act of limitation of the supply could actually in the longer run help increase the demand as well as value.
This brings us to one of the most fascinating aspects of Bad Santa’s more recent performance, its volume of trades. In the 24 hours preceding this writing, the coin has traded $221,970, a figure that represents 91.97% of the coin’s market capitalization. This is such an attractive condition in trading whilst being instrumental in making a cryptocurrency since a high volume to market cap ratio suggest deeply liquid cryptocurrencies.
The fully diluted valuation (FDV) of Bad Santa movie now is $245,860, which defines the worth of all stocks existing in the market at present, slightly higher than the current market cap. Equation 5 shows the greatest hypothetical market capitalization possible which can be achieved when all tokens would circulate in the market. The nearness of the FDV to the current market cap means that most of the supply is already circulating which the investment community may consider to be a positive thing since there is not much hue and cry over the distribution of tokens.
As with any potential investment in a cryptocurrency, there are likely scores of eager traders looking to get their hands on it unprepared to handle Bad Santa’s prospects for success. There is nobody who will question the volatility and unpredictability of the crypto market. Although XMAS has a festive theme and a rather satisfactory performance in recent months, it is necessary to invest some time to study and evaluate the prospects for the creation of cryptocurrencies with a topical theme.
Bad Santa has been the name and theme adopted by the team behind the creation of this token. The association of ‘Bad Santa’ with the festive and the symbol ‘XMAS ticker’ makes for a fun and impactfull brand image. Such a marketing strategy could possibly be beneficial for the coin as to penetrate the already dense area of cryptocurrencies during the holiday season themed products and services are always in demand.
More so, it will be interesting to see what other factors the cleverly titled Bad Santa will have to take into consideration for it to be able to be influential. Success of the project, the technological background behind the token and its applications in the real-life will be other decisive factors. People from all around the globe willing and able to invest should check moving beyond the first impression and consider several essentials of the project.
cryptocurrency enthusiasts are aware that themed coins and tokens seem to appear increasingly more often, or during festive seasons, for instance. Unlike some of these projects which disappear after a few days or weeks, others are able to sustain themselves and find relevance beyond these themes. However, it is still difficult to define, which of the categories Bad Santa will belong to as the market develops further.
Since the movie is set during the winter holidays, we can expect that during Christmas time people who are interested in crypto or who want to diversify for fun and add some of that holiday spirit into the process might take an interest in Bad Santa. The next several weeks will show if it is possible for this holiday-oriented token to sustain the current level of interest and develop into a permanent element of the crypto space rather than just a one-time Christmas craze.
All in all, themed cryptocurrencies such as Bad Santa (XMAS) deserves a special attention as the use of such cryptocurrency can be rather provocative. Its performance in the recent past, coupled with high trading volume, can be termed as a level of market consideration that cannot be explained as novelty or curiosity value alone. Nonetheless, one thing remains certain where investing in cryptocurrency is concerned, that is, all should invest with caution and make sure to undertake their research well before opening up their wallets for any project. But only time will show if Bad Santa has potential to create long-lasting value or if it’s nothing more than a short-lived holiday gimmick in the already fluctuating world of cryptocurrencies.
