Medusa, for example, is a relatively young player in the cryptocurrency marketplace but has recently seen its value soar. The crypto token, with the symbol MEDUSA, currently shows astonishing growth of 37.09% over the course of the last 24 hours and has sparked interest among investors and other crypto lovers.
To date, one token of the Medusa is at $0.001188 – that might not sound like much, but for people who invested in Medusa at the beginning, it is more than a good investment indeed. Market capitalization for the cryptocurrency is still comparatively small and currently equals $238,950 or the value of all tokens in circulation.
Trading volume has also been one of Medusa’s highlights, and we cannot afford to let that take a turn for the worse. On the last day alone, this coin had 69,800 trades, showing that more traders and investors are developing curiosity about the coin. Such a level of activity is even more significant if compared to the total market capitalization of the coin, which amounts to 27,85% of the volume-to-market cap ratio. A high ratio normally implies good liquidity and enthusiastic trader involvement, both of which may be beneficial for a crypto asset’s short-term performance.
It is also relevant to scrutinize Medusa’s tokenomics. For the token of the project, the total number of issued tokens is 1 billion, whilst the maximum possible number of MEDUSA tokens is also 1 billion. This fixed supply cap is one of the main aspects that many investors work for, as it will prevent inflation and dilution. From this total amount, the company states that 200 million tokens are in circulation, which is 20 % of the total available tokens.
The fully diluted value (FDV of Medusa stands at $ 1.19 million. It is the model market capitalization assuming how many tokens are in circulation at the current price range. The current market cap is still considerably lower than the FDV, and this means a large number of tokens are still locked, which can affect the token’s price in the future depending on what and when tokens that have been locked will be released into the market.
It is, however, important that to prospective investors, the recent price surge, though significant, warrants a pinch of precaution. The shares of cryptocurrencies for which there are relatively low trading volumes belong to the most volatile assets, which frequently demonstrate sharp fluctuations in prices both upwards and downwards. The 37.09% the same day rise is quite striking, nonetheless, such growths tend to be accompanied by declines, equally sharp in most cases.
In addition, as is always the case with investment, one should look at the basics of the underlying idea. Medusa, as a crypto-project, has lesser circulation compared to the leading cryptocurrencies, and it is a small-cap cryptocurrency; thus, its current application may not be as widespread as that of bigger names in the industry, but it may have a stronger foundation in terms of real use cases, collaborations, and updating activity. Potential investors need to independently evaluate the project, its goals, performers, technologies to be used, and the timeline of the proposed project.
Cryptocurrencies been characterised by volatility, and it has been seen that they undergo high volatilities with periods of steep rise followed by steep declines. Medusa’s recent performance must be discussed against this backdrop. Despite the fact, when looking for a promising asset, one tends to focus on the concepts of a buying frenzy and a rapid price increase, experienced crypto investors tend to focus more on the long-term perspective.
The idea with the reported circulating supply of 200 million MEDUSA tokens also suggests that it is just a small part of the token’s entire supply. When and in what manner the remaining 800 million tokens will be ‘released’ into the public arena can impact the overall value of the token and should, therefore, always be a major factor to consider in investing.
However, these warning signs should not detract from the fact that Medusa has recently delivered strong performance at least in the crypto sphere. This is a great accomplishment for a coin that was just #3911 on the list in terms of market cap. This means that more people are developing an interest in the project with regard to supporting and trading.
Such examples of cryptocurrency projects as Medusa prove the fact that the given market is still developing and unpredictable. Whether Medusa can continue to expand and become a better player in the crypto industry has yet to be seen. However, its recent performance is a good example of how even such promising company can see a vast of opportunity in the field of digital assets and witness tremendous growth if necessary.
Therefore, although one can observe that Medusa has recently shown a significant increase in price, new investors should be cautious. Investment in any cryptos needs extreme diligence and always studying the prospect before venturing into it since the risks involved are high, as well as having a clear understanding of the goals and focus of the project one wants to invest in, whether major ones or in new emerging projects. Like all things related to crypto, it may be anybody’s guess as to where things might head in the future, but for now, for better or worse, Medusa has carved its place in the market.