As of the volatile and unceasingly developing world of cryptocurrency, new competition came into view, which gained the attention of investors & traders. Nasdaq420, an emerging crypto coin with the marker symbol of NASDAQ420, has caused a major stir in the crypto market in terms of performance and acceptance.
As of now, Nasdaq420 is ranked 3041 in Alexa which is quite a low position, however, the cryptocurrency has demonstrated its sustainable development tendency during the past days. At the time of this writing, the coin is at $0.003038 per coin, up by 11.05% in the last 24 hours. This upward trend has raised the interest of both the old bit-coin investors in the digital currency and the new investors in the same.
Perhaps, one of the most significant values, shaping Nasdaq420 today is its current market capitalization, equal to $3,04 million. This figure shows the sum of total value of all circulating coins and gives an average idea of the market size of the asset. Its market cap does not allow it to be ranked among other advanced cryptos yet but it gives the clue about further development of Nasdaq420.
The trading volume of Nasdaq420 for the last 24 hours has surged to $619,450, which shows a rapidly building-up interest in this particular digital currency. This trade volume, when related to its market capitalization, gives it a respectable volume-to-market capitalization ratio stand of 20.39%. This high ratio means that there are a lot of activities relating to trading and liquidity, which is always good for any cryptocurrency.
However, one of the biggest strengths of Nasdaq420 is it has a clearer understanding of the supply of tokens. The max supply of the tokens is fixed at 1 billion and represents the total circulating supply of Nasdaq420 tokens. Notably, according to a survey of the respondents, the currently circulating tokens are 39.4 million, which is in proportion to the above figure if all the tokens are in circulation at the moment. The special thing about this model is the actual transparency of token distribution, which could appeal to those investors who are fond of clear tokenomics of a given project.
For Nasdaq420, the FDV is currently equal to its market capitalization at 3.04 million dollars. The proportionality between the market capitalization and the FDV suggests that all tokens are afloat and negates the dilution risk that some cryptos experience because of the release of more tokens in circulation.
Of course, it’s essential to evaluate the situation with regard to the entire sphere of digital assets. The crypto market, as we all know, is very volatile; that’s why we always post informational and advisory content and even though Nasdaq420 has had a positive trend, we always advise people to do deep research before investing.
The name Nasdaq420 itself is provocative and may cause reference to the popular stock exchange and the popular counterculture number 420. This unconventional approach may explain its popularity among some parts of the crypto community if nothing else; however, the rationale for adopting such a name has not been clearly explained.
If Nasdaq420 gains adoption in the market, it will be fascinating to observe its performance compared to other cryptos and its upward mobility. Trends like technological, community and total market conditions are anticipated to decide about its future way.
Cryptocurrency markets are active and new projects and tokens appear more often. This setting, of course, changes frequently, but Nasdaq420 still found its place in the world to become an object of attention and buying/selling. But, as it always the case with the investments into the crypto sphere, potential investors have to be careful and track the evolutions in the market.
Compared to the examples of coins and tokens existing in the world of digital assets, Nasdaq420 can be considered as an example of the existing variety and constant development of the ecosystem of digital assets. It is still unclear whether Nasdaq420 will be able to become a constant participant in the crypto market or will remain another short-lived participant, but its experience at the moment somewhat deserves attention from lovers of digital currency.
All in all, the Nasdaq420 is an interesting outlook on present cryptocurrency growth. It has also recently seen increased value, large trading volume and has a clear token distribution, which has placed it as a digital asset to consider. Despite this having occurred, Nasdaq420 today is yet another player in the growing crypto market and only time will tell if the company shall sustain its growth and dominance in this very competitive area.
