One of the newest additions to the world of cryptocurrencies is Wigl and it has achieved a lot. Now known under the ticker WIGL, this fresh token has managed to attract interest of investors and crypto enthusiasts. At the current time, Wigl is valued at $0.1131, which is only 0.34% up on the prior day.
As it turns out, Wigl is not immune to the fluctuations typical of the cryptocurrency market either. Currently, the market capitalization value of is $352,734.89 and occupies the 5565th place among all crypto-currencies. From this relatively low market cap, we can imagine that Wigl is still in the process of its evolution, meaning those who get in early can benefit enormously, searching for the next big thing in the world of crypto.
Traders volume is one of the most important signs that show that a particular cryptocurrency is alive and used by people. The trading volume Wigl has been $ 2,343.97 within 24 hours ranking № 5049 of this indicator. Though not this high, this figure can be taken as an evidence of increasing interest in the token as well as its usage in trading on different cryptocurrency exchange platforms.
Therefore the volume to market cap ratio is expected to be equal to 0.66 percent to provide some insight into the daily trading of Wigl expressed in terms of its total market capitalization. This ratio is useful for trader and investors in identifying the speed at which the identified asset can be traded without exerting a bearish pressure on the specific asset.
It should also be mentioned about Wigl Token Distribution. Circulating supply according to the Wigl self-report is 3.12M tokens, in a total project supply of 74M WIGL. But it has yet to be seen how little circulation can equal scarcity value and address the token’s demand in due course. Furthermore, thinking about the totality of tokens in existence and its rate of inflation in the future that a particular currency would have to look at the remaining maximum supply of Wigl tokens that is a cool 600,000,000 tokens!
Using the maximum number of tokens available, the fully diluted market capitalization of Wigl is $67,87 million. This figure is a view of what the general market capitalization could be, should all tokens are in circulation, it gives investor, a long term vision of how valuable the project could be in the long run.
It is essential to know more about its technical concept, purpose, and the team behind Wigl after it entered the cryptocurrency market recently. Although one doesn’t get specifics of these aspects in the provided information it is important for any investor who plans to invest in the firm to investigate further on these areas.
There have been many new entrants into the cryptocurrency market over the year with each claiming to have distinct features or is a solution to certain challenges. For Wigl to be successful, it will have to effectively explain why its invention will be unique from the already existing cryptocurrencies solutions in the market and the ways that it would be useful in the real world. Some of the things that are typical for any new cryptocurrency are important for Decred including the project’s white paper and the product’s development plan, partnerships, community, and the technology behind it.
There are general risks that every person, who is buying cryptocurrency in general, and Wigl in particular, is supposed to take into consideration. First, the market is characterized by high volatility and unpredictability, regulatory changes, and potential for high and fast price changes. That is why it is necessary to approach investing in Wigl or any other real cryptocurrency as safe as possible since it is just an investment tool among the others in the list of potential tools.
The given case examines Wigl product since its launch on the market to identify possible trends in its reception. Analyzing the current Wigl price and market capitalization, some of the experts can estimate it as being in the early development stage, but the possibilities of a high-speed development have already been evident in the cryptocurrency market, given that a project receives popular recognition and active implementation.
However, what remains to be seen is its performance in the context of cryptocurrency as the latter moving forward from the phase of creation, Wigl also steadily moving forward to take its place in cryptocurrency market. In this case, being listed on exchanges, affiliation with big firms, or projects, creating a tremendous community could help Wigl in the future.
All in all, Wigl stands for an intersting new member of the constantly growing list of crypto-currencies. Cryptocurrency enthusiasts and investors who are in the search for promising new tokens have taken an interest in how it currently stands in the market, what its circulating supply is at the present time, and how it might grow.
However, as it is important to always look at the possibilities that Wigl will open for the nouveau riche of post-Soviet countries, one must always be realistic and remember that cryptocurrency markets are probably the most unstable of all markets existing at the moment. As the going progresses forward and with more openness and disclosure, the specific benefits and continued sustainability of Wigl will be better revealed and may help define its place in the future prospects of the Web 3.0 and the DeFi landscape.
