As new digital currencies flood the market, the audience is introduced to a new product of the virtual currency industry. BluesCrypto that operates with the BLUES is relatively new in the digital currency markets and hence has attracted the attention of traders through,everyone interested in this latest digital currency trading platform.
Currently, BLUES is traded at $0.0009303; it has exhibited great strength in the early stages of the market with a 24-hour trading increment of 3.39%. To date, the cryptocurrency has attracted attention of the traders and analysts who are keen on observing its dynamics due to its recent appearance in the rapidly developing area of interest.
BluesCrypto has established its position in the list of world’s cryptocurrencies and digital assets and it currently occupies 5934 working place and the value of coin in the market is $930346.98. When compared to the leaders of the industry, this can look small or average, but it is important to bear in mind that the crypto market thrives on volatility and upward mobility. The sheer fact that it boasts of a small market cap is another testament to its potential, or rather, the potential of some projects, for investors willing to invest at the ground level.
Among other fundamental factors which have attracted the attention of the market observers, the coin operates with $907.75 trading volume within the last 24 hours. From this figure, it can be seen that there is an increase in interest and trading volume of the BLUES token by 23.52%. The VTM that presents the ratio of trading activity to the market capitalization of the coin has also risen by 0.10% which provides a testimony to the rising demand for the asset.
The BLUES token of the BluesCrypto, are more simplified and have no hidden details; the total amount is of 1 billion tokens. However, the project has gone for a model where circulation supply equals the total and maximum supply and is at 1 billion BLUES. This approach also addresses issues of dilution in the future as well as gives specificity to holders of the token which can go a long way to winning investors trust.
Market capitalization, namely fully diluted, adjusted for the total number of tokens, amounts to $930,346.98. Such a parity between the current and fully diluted market capitalization is considered a plus, because it indicates that all the tokens are now floating in the market and we have no further large volume of tokens to come out and drive more sell pressure in the market.
Like the evaluation of any new crypto currency, the potential benefits as well as risks of BluesCrypto need to be examined. Altogether, the application’s relatively low valuation could be viewed as a potential for a high number of benefits if the project would increase its popularity. But at the same time, investors need to understand that the cryptocurrency market is quite volatile, and investing in some of the newer tokens can be particularly dangerous.
The creators of BluesCrypto have not shared significant updates about the plan and activity of this project, collaboration with other corporations or companies, and advancement in technology. While the crypto community impatiently continues waiting for more detailed information, members of the community thought about possible use cases and USPs of the BLUES token. Will it be fully dedicated to Defi solutions, will act as the means of payment or cryptocurrency or maybe bring newly developed solutions in the blockchain industry? To these questions, there are no answers till this writing, thus creating suspense and expectation for the project.
Therefore, the establishment of new tokens such as the BluesCrypto in the larger market of digital currencies shows that the industry continues to evolve and expand. As the market for non-established cryptocurrencies develops, it is possible to create new currencies such as BLUES for which the main task will be to fill in the corresponding niche in the marketplace or offer new, innovative solutions.
We therefore urge investors and enthusiasts who want to invest in BluesCrypto to undertake their investigation and research fully. For the early days, yes we agree with you, the numbers look good but looking at the long-term picture, it is not all that glamorous, it has nothing to do with the result; it has got to do with the process, how solid is the basis of this cryptocurrency and the people behind the project, and whether the project holds any real utility that will revolutionalize the way we solve certain problems.
With the market growing more established, projects such as BluesCrypto help to expand the innovative potential of the portfolio that exists in the crypto world. Whether or not BLUES will grow to be one of the dominant tokens in the Bitcoin ecosystem or remain a mere novelty we shall have to wait and see. Nevertheless, it is an excellent example of a company that entered the market and recalled that the cryptocurrency market is constantly evolving, and the development of new opportunities goes hand in hand.
In the following weeks and months the focus will be on BluesCrypto as it aims to overcome all the obstacles and successfully respond to all the opportunities which it will facing. Will it use the speed gained in the beginning to become a leading player in the market? Or will it experience the challenges that can fully capture most promising crypto initiatives in the making? Only time will tell, but one thing is certain: However, introducing BluesCrypto among other cryptocurrencies makes it more interesting and prospective for investment.