DeepOnion Circulating Supply Increase - What Does it Mean?

in #deeponion7 years ago (edited)

(Note: I am not a financial planner nor is this financial advice. Always do your research before making investment decisions)

Over the last few weeks DeepOnion had been listed at around 4.8 million $Onion in circulation on Coinmaketcap.com. On Monday a correction was made, and the circulating supply rose all the way up to 9.7 million , increasing the market cap ranking for DeepOnion to 208 on CMC’s website.

Screen Shot 2018-02-08 at 7.41.34 AM.png
(DeepOnion's circulating supply increased to over 9.7 million this week)

What does this mean in the overall scheme of things? With a total supply of around 20 million coins, with the corrected update this can potentially increase the value in DeepOnion. With almost half of the total supply in circulation, this leaves a lower number of coins available to be distributed, creating a lower supply and a higher demand. Once investors are able to see the potential for a great ROI at the current price this is a great sign the value will continue to increase.

Screen Shot 2018-02-08 at 7.39.22 AM.png (On Monday DeepOnion rose to 208th in market capitalization on Coinmarketcap.com)

The market cap also has increased as result of this correction. DeepOnion went from a market cap of 13 million all the way to 48 million. The market cap number formula is as follows.

Market cap = price x total coins in circulation.

This news is major for DeepOnion as the price rose to 50% in the last few days trading from the near $2 range to around $5 on Wednesday. For the DeepOnion community this great news, in a month that has already been one hell of a roller coaster ride!