Sun (New) Coin (SUN) has recently become one of the most popular cryptocurrencies: its price soared to $ 03566 which increased by 18. An overall increase of 64% was registered Within the last 24 hours. This clearly show the recent volatility in the prices of the coin and increased investor’s interest. At the end of the year, the company had a market capitalization of roughly $ 354. Based on the current statistics, SUN has a ranking of 148, with the circulation of 9 million, hence, it can be considered as rather new in the cryptocurrency market.
The volume of Sun Coin trading within the 24 hour period is $318. 68 million, it accounts for 13 % of total population in the UAE. That is; Stewart has been able to sustain 99% of its market cap. This high trading volume points to active trading in SUN market and speaks volume of the interest that it elicits among traders. So here we have the volume to market capitalization ratio at a stunning ninety. 16 percent relative to its total market value, which may be interpreted as relatively high trading. This large ratio may indicate high liquidity and unpredictable fluctuation in its price, hence making SUN an active asset in the digital currency market.
Currently, the circulating supply of Sun Coin has been identified to be 9,951,640,722 SUN while the total supply is 19,900,730,000 SUN. This means that, almost half of the total supply is in circulation already. From this staggering, the fully diluted market cap currently sits at $709M while valuing the total supply at current market conditions. 73 million. It also gave an idea of the maximum market capitalization of SUN if all coins are to be floated into the market.
This is the recent price increase of 18. 64% indicates that the company’s experience a period of effective growth probably due to relating factors such as market condition or new okvents within the company or in the cryptocurrency business ventures. A massive gap of price in a short time mostly represents the curiosity of the investors; it is a clear signal of speculation.
To these, one can add that Sun Coin has a from volume to market cap ratio of 90. 16% was attributed to effective trading of the services, and interactions within the market. This high rolling ratio implies that a significant portion of the total value of the coins is circulating in the market and hence can attract additional investors or subjects them to additional risk. The liquidity ratio of SUN is very high when compared to the market capitalization which means that SUN is a very liquid stock and therefore its price can be quite volatile.
Since more people continue to use the cryptocurrency, the demand and the supply of the particular coin are likely to determine its further price trend. Given that a large proportion of the total issuance is already accessible to the public, even minor fluctuations in the demand should have a bearing on the price of the coin.
To sum up, Sun (New) Coin is characterized as having shown a significant growth in recent months as shown by its increase in the price and high trading volume which indicates the presence of a strong active market. Though the present day market data suggests the existence of opportunities, there is also extremely high fluctuation and relatively high turnover that should caution investors. As with most other emerging cryptocurrencies, knowledge of the trends and activities in the market will be critical in determining the new future of digital assets.
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