A crypto that recently had people talking about it in the digital asset market is FLOOS (FLS). FLS has seen a big bump in price, currently $0.009818 and has spiked by 69.02% in the past 24 hours. Coin market cap is $9.07M, and it ranked #2740. Having a relatively low market cap, this implies FLS is still in its initial phase, and I believe it can still grow.
Very impressive is the trading volume that FLOOS features. Socket balances are $5.46 million, ranking Socket at #462 by volume in the last 24 hours. This high trading volume in relation to its market cap is represented by its volume to market cap ratio, which clocks in at 60.18%, that of many other cryptocurrencies. That means healthy interest and liquidity in the token, which could be appealing to traders seeking volatile assets.
According to FLS’s circulating supply, the total supply and max supply is also 924.1 million tokens. In any case, this means that there are already all FLS tokens in circulation – no more to mint in the future. Some investors, however, may consider this a good thing because it brings the risk of inflation through token issuance to nil.
It renders the fully diluted market cap of FLOOS to be $9.07 million as tokens in general are in circulation. This aligns with transparency and fairness to the distribution of token to current market cap and fully diluted market cap.
Although it has been crashing recently and especially when it comes to FLOOS, potential investors should take this with a grain of salt. The cryptocurrency market has naturally high volatility and smaller cap coins such as FLS are even more susceptible to fast, quick price fluctuations all around. It’s indeed impressive considering that just recently it had increased by 69.02% in 24 Hours, but that reveals that it can still suffer price corrections.
FLOOOS is a project and investors should work out the project background, use case, who’s on the development team, how the road map looks and what kind of community support. It’s important to understand the fundamental aspect of the token’s value proposition and how its long-term potential looks before making any investment decisions.
Additionally, the market cap of Floos ranks at #2740 and places the cryptocurrency in the category of small and new based cryptocurrencies. While there is the potential to grow this can also come with more risk and less liquidity as compared to larger, more established cryptocurrencies.
FLOOS’ high volume to market cap ratio may be a double edged sword for the company. On one hand, that shows strong trading interest and liquidity that can be powerful as a source of attraction for the traders. This could either be a good or a bad thing because on the one hand, the token itself might be the victim of very speculative and potentially manipulative trading practises, which aren’t uncommon in smaller cap cryptocurrencies.
Once again, like any cryptocurrency investment, it’s all about diversification and risk management. But as a standalone investment FLOOS shouldn’t be considered. Current performance and metrics make this token interesting enough to watch for, but it’s worth noting that potential investors should expect high volatility, so invest accordingly.
Finally, FLOOS (FLS) is a good deal to those actively trading in the cryptocurrency market, given how the price surged, trading volume is the highest and fixed supply of token. But that small market cap and big price increase also have the potential to be risks. Trades in the crypto space, as with FLOOS, are always as there is due diligence, careful deliberation and conservative investing strategies that should be in place.
