WATCoin is one of the latest additions to the list of cryptocurrencies and has been quite popular due to its unique business idea and a bright outlook for its development on the background of cryptocurrency market. With the operational Ticker as WAT, this newcomer has attracted the attention of many crypto lovers and investors. WATCoin which is currently traded at $0.0007986 has defied the odds in what has remained a very volatile market for the most cryptocurrencies, posting an impressive 20.85% boosts in value in the last 24 hours.
The environment of the cryptocurrencies is quite actively developing, and WATCoin has to find its own place in this environment. At the same time, there are 69.7 billion WAT tokens supplied for circulation, thus the project is balanced efficiently by the constant desire to achieve both scarcity and availability. Such a mechanism of a fixed supply cap is aimed at possible future growth of the token’s value due to its increasing demand.
The market capital of WATCoin now stands at $10, 270, 954, which sees it rank at position #2671 among all cryptocurrencies. Even though it may look emaculate compared to competing giants in the industry, it is essential to note many other successful block chain based crytocurrencies began from here too. Pros Potential Earlier investors could purchase shares of the project for a relatively small amount compared to its market capitalization.
The intensity at which users trade in a particular token or cryptocurrency is usually seen as a sign of the project’s well-being. WATCoin has had a trading volume of $14 million within the last 24 hours which puts it at 260 in terms of trading volume. Such a level of trading activity points to keen interest and market depth in theep, which is a vital factor as far as the stability of the WAT tokens and possible future volumes are concerned.
Though the current volumes to market cap ratio stands at 136.37% we gain a sense of the liquidity level of the token against the overall market capitalization. This rather high number suggests that WATCoin has a very active trading base that has trading turnover in excess of its market capitalization. Although this can sometimes be a good indicator of interest in the company’s stock, it can also be an indication of high risk so investors should be careful.
Additional information looks quite promising, there are reported 12.86 billion of WAT in circulation, which makes 18.45% of total tokens. This kind of token distribution over time could solve problems of price fluctuations and give room for real growth as it advances.
In addition, considering all tokens are active in circulation, the fully diluted market cap indicates the current market value and future market value of WATCoin. Such figures depict that there is a much greater potential of expanding if the project is capable to implement its well-created strategic map and enjoying much greater popularity.
Consistent with any token offering of a new coin, everyone is advised to approach the WATCoin project with both its advantages and disadvantages related to investing in fresh digital currencies. They have pointed out that success of the project will most probably be influenced by such things as the novelty of the technologies applied in the project, testing of how the project can be applied in real life scenarios, acceptance and enthusiastic support from stakeholders, and prevailing market situations.
Unfortunately, information about the specifics of WATCoin and its application has not been provided in the given information, but it is a common practice for new cryptocurrencies to focus on specific issues within the existing cryptocurrency market. Potential investors and cryptocurrency enthusiasts of the project should readantically be able to read the whitepaper of the project, the development plan and also background of the team behind the project.
It should be noted that forming the cryptocurrency market is characterized by very high velocities and constant appearance of new trends. Indeed, its entry into this space is well timed when investors are seeking out projects that possess utility and sustainability. As the project develops, WATCoin will have to show how useful it will be and how it is different from the numerous other altcoins that currently exist now.
Marketing and community involvement will be instrumental throughout the journey at WATCoin. Thus developing a strong supportive community will lead to increasing the circulation of tokens, as well as attracting developers to build on it platform, if it supports smart contracts.
Although, the recent upsurge of 20.85% within a 24 hour period is interesting, investors are warned that these high levels of growth means that a trend reversal is often just around the corner. Most of the time, the steady growth of the project over the years is a sign of the project’s stability.
Therefore, to understand the next steps of its development, it will be quite worthwhile to observe WATCoin and see how it will tackle the difficulties and opportunities of the further stabilization phase. Whether the project will be able to meet its goal, change dynamically according to market conditions and gain a user base that is faithful to its services – will be the core signs of success for the project.
In conclusion, it would be pertinent to note that WATCoin poses itself as an interesting addition to the world of cryptocurrencies. Due to its high potential in terms of future development and a practically perfect start with high preliminary schedules, supports an active trading community interested in the further development of new promising directions in the field of digital assets. Nevertheless, the appropriateness of potential buyers should be prepared to become as cautious as with all investments in the cryptocurrency market – high volatility and risks involved. The following months are set to be defining for WATCoin for the altcoin to establish itself as worth a place within the CompetitiveCryptoEcosystem.
