Unexpectedly, the cryptocurrency market faced an upward trend in the value of the Wolt (WOLT) token previously people were unfamiliar with it. In the last one day trading, WOLT has seen an unprecedented spike as high as 210.59% thus grabbing the attention of everyone online and in the crypto market. This sharp price fluctuation has put WOLT on the map for the first time and many people have started paying attention to this little known token.
Wolt currently occupies 3764 position in the cryptocurrency market and today shares the price of $0.081142. Such a massive increase in the price has brought its market capitalization to $420,220, which qualifies it for micro-cap cryptocurrencies. Nonetheless, the token has recorded a massive growth within the last one week to make it an attractive point for traders hunting for penny tokens to pump and dump in the crypto market.
The trading volume in the description has spiked at 24 24-hour token trading volume of $84,230. This volume is a big part of its market capitalization as the volume to market capitalization ratio is 19.49%. Such a high ratio means more liquidity, and trader attention: both of which are drivers of price fluctuations in the cryptocurrency market.
On the Wolt platform, the total and maximum available supply are the same and equal to 420,690,000,000 WOLT tokens. This is not surprising by today’s standards of micro-cap cryptocurrencies, where projects will often choose massive token supplies to enable the price of individual tokens to be as low as is physically possible. The circulation supply is said to be 100 percent, and no locked or reserved tokens could take over the market at some point in the future.
At present, the market capitalization of Wolt is calculated to be $478,695, which is just a little lower than the Fully diluted valuation FDV, which is $480,310. The relatively small gap between the market capitalization and the fair value of the dedicated token implies that practically all of the token supply that exists at present is reflected in its evaluation. However, buyers and investors should approach it with caution because large quantities could drastically drop if owners decide to dispose of them.
However, before anyone goes out and invests in Wolt, one must understand the recent spike in the company’s prices is more of an accomplished fact rather than the financial forecast of a bright future ahead. Some of these coins are just as volatile as they can get, especially those that have relatively low market capitalization. This 210.59 percent increase in one day is unsustainable for any crypto asset, let alone from a relatively small exchange platform like Binance, and can be quickly reversed in favor of equal declines.
More importantly, there is little information on the Wolt project, its application, or the people involved in the project. In the various cryptocurrencies, short term movements up are observed to be as a result of factors like pump-and-dump scams or group buying. Unfortunately, given the absence of knowledge in token fundamentals, it becomes difficult to distinguish if this is due to adoption or speculation.
Potential investors who intend to invest in Wolt should use a lot of caution when investing in this company or engaging it in any form of business venture. The cryptocurrency market is volatile, and some of the ripple effects can especially be observed with less popular tokens such as Wolt. According to this branch of the theory, it is only wise to invest an amount that you feel you can easily lose and never invest in only one kind of asset.
As users and traders wait and observe the crypto market dealings of Wolt, many are eager to decode whether this rise is susceptible to changes to fade away or not. The upcoming days will show whether Wolt will be able to sustain the current level of attention and a higher price or whether it will plummet back to being an unknown service.
In conclusion, Wolt’s price surge has undoubtedly made the rounds in the cryptocurrency market as its price skyrockets from one level to another. However, as with any investment, especially in the digital asset space, which is highly unpredictable, such opportunities should be viewed with a pinch of salt. The fact is that while the possibility of achieving high revenues may be defined, the potential for losses is also very high. If so, all attention will be paid to Wolt and watch what this suddenly popular token will bring the world.
