Mars Network known as Mars Nw is fairly young in the field of cryptocurrencies but it has already attracted investors’ attention. It has entered most of the cryptocurrency exchanges and tracking sites only in the end of 2017 which caused interest in its capabilities and potentialities as a digital asset with MARS symbol.
The cryptocurrency called Mars Network is intended as a blockchain-based business platform that integrates several modern technologies into its functioning. Among them, Context Blockchain, Digital Contents Original System (DCOS), Multi-modal and Big data Artificial Intelligence technology, and Decentralized Identity (DID) for non-face-to-face identification. It is strategy to start a variety of services that are connected to real life examples with relation to fields including life, finance, law, estate, and education.
Of all the affiliated cryptos, the MARS has the following trading price at $0.00002207 a token; it has recorded a 24-hour gain of 41.97%. It has attracted the attention of traders and analysts due to this increase in value as can be seen in the graph above. At the time of polulatin, the market capitalization of Mars Network is about $9.29 million, which makes it a #2683rd cryptocurrecy. While this is rather low, it miraculously implies that this is still work in progress and the above project is still in its embryonic stage.
Another important factor that distinguishes Mars Network in recent quarters is trading turnover. The last 24 hour volume for the cryptocurrency stands at $14.31 million making it 257th most traded cryptocurrency in the world. Such absolute volume in comparison with company’s market capitalization and the respective volume to market capitalization ratio equal to 154,14% proves the interest to token and its liquidity.
The tokenomics of Mars Network are evident from the supply metric of the token. The circulating supply recorded according to the self-survey is 420.69 billion MARS token, which makes it 100% of the overall token limit. Notably, the total supply is discovered to be 0.00 MARS, which might be attributed to either incomplete information or a standard update. The max total supply is 420,690,056,696 MARS, which is similar to the circulating supply at this time. This has a connotation to the present implication that all tokens are available in the circulation, therefore, has apt implications on the future prices of the tokens and tokens distribution.
Unfortunately, using the maximum supply value for calculating the market capitalization, Mars Network has at the moment $9.29 million. This makes this figure to coincide with the current market cap and this can only indicate that all tokens are in circulation.
That is why investors and fans of cryptocurrencies are interested in Mars Network as an organization. Its realism, embracing diverse use cases and technologies, such as Artificial Intelligence and self-owned identity, makes this project unique in the burgeoning market. The opportunity of transforming the potential of blockchain technology into actual daily services may be one of the biggest drivers of the platform’s expansion in the future.
However, similar to all other cryptocurrencies and especially those that are yet to be developed, any interested investor should tread carefully when it comes to investing in the Mars Network. The market for cryptocurrencies is highly erratic, and it is especially true if it newly emerged projects are in question. This was evident if you saw the recent shocking price spike to 41.97% within a single day; something that should serve as a reminder that investing in these cryptocurrencies requires first considerable research and risk assessment.
The fact that the coins/RE trade volume to market capitalization ratio is high indicates that there is speculation in MARS tokens. This could lead to more trade being executed, and therefore more determination of price by the market forces, and aggregate short term volatility. Holders of this asset should be ready for possible fluctuation of prices and their tolerance level ought to be considered.
While Mars Network forges on its mission to build its platform and extend its services, it is critical to assess the advancement, collaborations, and other aspects of this project. Many of the services that for the MARS Business Platform, as mentioned in this article, could in one way or the another have a dramatic effect on the token value and utility in the long run.
Therefore, Mars Network can be seen as a promising piece of the contemporary cryptocurrency phenomena which, on the one hand, relies on the blockchain principle, on the other hand, can be applied to different fields of human activity. It has come to the limelight lately through its price change and trading volumes; however, like any other new cryptocurrency, its success will be determined by its ability to provide the intended services and find a broad market demand. With the integration of digital assets expanding, Mars Network will be a project of interest to those expecting a blockchain-based application with real-world functionality.
