The world of digital currencies is a vast field that becomes updated with new options over the years; however, the focus here is drawn to one particular option. The major player, Speedy, represented by SPEEDY, is getting more awareness in the digital asset context due to its different approach and its capabilities.
Currently priced at $ 0.008566, Speedy has been very stable in the indices considering they are experiencing fluctantions. The cryptocurrency has also grown by 4.57% to the market within the last 24 hours to show it can gain steam even in the worst of circumstances. It has stimulated interest among traditional market makers and newcomers or even professional traders in the cryptosphere.
Perhaps the most appealing feature of this book is that it is such a rare and scarce product. SPEEDY has a fixed supply capitalization of 1,000,000,000 tokens, and the main idea of its creators is to introduce a strict shortage of the cryptocurrency in the market, which, times and again, can affect an increase in the cost of the currency. This is similar to what the Bitcoin model has long sold with its deflationist approach to the particular asset.
In this it is noteworthy that Speedy, which appeared on the market not so long time ago, has already shown rather big trading turnover. But within the last one day only this crypto currency has witnessed $1.21 million worth of tokens being traded. Such level of activity indicates the increasing attention from traders and investors who are ready to participate in the further development of the project.
The fully diluted valuation (FDV) for Speedy now sits at $8.57 million, which represents the market capitalization of the Speedy token if all tokens are outstanding. This figure gives information about the future value of the project should it continue to grow and expand its user base.
Notably, the circulating supply of Speedy is at the moment stated to be zero SPEEDY in circulation. This is could be wrought by several factors by virtue of the fact that in many projects tokens are locked in smart contracts or the plan is for a gradual release. Identification of circulating supply of tokens and its effect on the price behaviour hence will require more data in future.
The people behind Speedy are quite apt in naming their project as it appears, at least for now, to be edging fast ahead in terms of market attention. More information regarding its particular application and the technology to be deployed is yet to be disclosed, but initial interest in the project, as demonstrated by investors, indicates that there might be material for a deal in what Speedy has to present.
just like any other digital coin investment you should use a lot of caution and do your homework before investing in Speedy. The crypto market is very unpredictable, and that problem can be even worse when it comes to new projects, which can experience a steep price drop in a short amount of time.
As we can see the nature of Speedy’s business entails the inherent risks mentioned above, let me highlight that the company has experienced quite impressive performance up to the current date. It is considered that the token attracts more traders as it indicates a positive change in the price over a 24-hour period. Nevertheless, one should not forget that even a set of short-term wins do not guarantee results in the field of cryptocurrencies.
Another issue that Speedy currently is that it has to define what services it can offer that no other firm in the industry is offering. Such a high number of competitors in 2021 means that every new project must bring value-added propositions or organize some development in the sphere of blockchain.
The upcoming months will be decisive for Speedy, and the company has to come up with new strategies to continue the growth story it started in the first months of the year. Issues like initiative, innovative processes, and people and community dynamics will be the major benchmarks defining the project’s sustainability.
The value of market cap is not declared yet, investors and enthusiasts will track this feature of speedy in near future. When more tokens are launched and trading volume stabilizes, it will be easier to define the total evaluation of the project.
The users of cryptocurrency products are passionate and active, and this is where Speedy will need to forge a community. Trust, with regard to developers and investors, will result from active project promotion on social networks, continuous development and reporting efforts by the project team.
As we have seen with the general growth of the broader cryptocurrency markets, projects like Speedy have their challenges and opportunities ahead of them. Determinants of change respect to individual tokens and the overall market include regulatory change, technological progression, and changes in the investor’s sentiment.
For now, Speedy still is one of those unknowns in the vast world of digital assets. One, based on its early price volatility and volume suggests that it has garnered a particular part of the cryptosphere. Still, the success of ID is going to be determined by its capacity to sustain the interest and grow it over time notwithstanding competition and market condition changes.
As usual, anyone interested in investing in such securities is encouraged to independently research the market, fully appreciate the risks associated with such investing, and make sure that they never risk more than they can afford to lose. The tale of Speedy is just getting started, and it is yet to be seen whether this digital asset will be able to utilize its inherent function and start outrunning all the competitors in the race for cryptocurrency growth.
