Key Data for
$VELODROME (VELO):
1. Current Price: $0.2935 (+97.78%)
2. Market Cap: $256.83M
3. Fully Diluted Market Cap: $567.68M
4. Volume (24h): $471.41M
5. Vol/Market Cap Ratio: 183.55%
6. Circulating Supply: 875.01M VELO
7. Total Supply: 1.93B VELO
8. All-Time High (ATH): $0.4245 (December 13, 2024)
9. All-Time Low (ATL): $0.0054 (July 4, 2022)
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Analysis:
1. Current Price Movement:
The price has surged significantly (+97.78%), suggesting strong short-term demand or favorable news.
Trading volume ($471.41M) being higher than the market cap (Vol/Market Cap = 183.55%) indicates high trading activity, possibly due to speculation or sudden interest.
2. Supply and Market Cap:
Circulating Supply is 875.01M out of 1.93B total supply, meaning only ~45.3% of the total supply is circulating.
A significant portion (54.7%) of the total supply is still locked or not yet in circulation. If released, this could dilute the price unless demand increases proportionately.
3. Fully Diluted Market Cap:
Fully diluted valuation ($567.68M) is more than double the market cap. If the remaining supply is introduced into the market, it could exert downward pressure on the price.
4. Long-term Trend:
The coin has recovered dramatically from its ATL ($0.0054 in July 2022) and is approaching its ATH ($0.4245). This indicates a possible bullish trend, but investors should watch for resistance near the ATH.
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Conclusion:
Upside Potential: If demand continues to grow and trading volumes remain high, the price may test its all-time high ($0.4245).
Downside Risks: High trading volume could be speculative, and if the remaining supply enters circulation without sufficient demand, it could lead to price corrections.
Monitor for fundamental developments (e.g., partnerships, upgrades) and overall market sentiment to gauge sustainability.
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