The emerging field of cryptocurrencies has recently seen the appearance of a fresh and somewhat enigmatic member to its rapidly growing list of commodities. Last week, a new player entered the crypto market – TON Cat under the stock code TCAT which combines the appeal of cats and decentralized technologies.
Thus, TCAT has become an object of fierce attention from investors and has a price of $0.01571, with a total of 10142017 market capitalization, which puts it at rank #2870 in the international ranking. Such a start up for a new comer shows that there is increased demand for new well, defined thematic cryptocurrencies in the market.
Indeed, one of the most effective features about TON Cat is the self-claim circulating supply of 892.6 million TCAT tokens, exactly the absolute token supply. Such a transparent nature of token distribution is generally regarded with optimism by investors because it addresses issues of dilution and offers certainty on the token. The max supply has been fixed at 637.02 million TCAT, and this is an effective signal that the coin is likely to experience deflation in its circulation model as a result of which it might be capable of supporting prolonged growth of its value.
In terms of daily trading volume, 24 hours holding an approximate of $1.07 million for TCAT making it be listed as number 1001. This level of liquidity is vital for new tokens as it results in easy entry and exit for trader and investors. The trading volume / market cap ratio of 7.64% is quite good indicating that there is interest in trading compared to the position of its token in the market.
The name TON Cat and the associated branding stem from the TON blockchain abbreviated for Telegram Open Network, and internet adore of cats. This great and concise marketing strategy leans on the technical tone connected with TON ecosystem and the ability of posts concerning cats to go viral. It is a technique that works for other meme coins in the past which could be an added advantage for TCAT to capture the attention of the community members.
It has 0.46% price rise only in the last 24 hours and this signifies that the token is in a consolidation phase just after its launch. This relative stability is a net positive, which means that the token has its permanent demand among early adopters and is not very whimsical, like most new generation cryptocurrencies.
Like with any fresh ICO offering, there is high interest in the technical aspects of the project and possible application of TCAT. Even though information concerning the project’s timeline and the members of the development team may be gradually revealed, the link to the TON ecosystem heading towards DeFi, NFTs, or dApps compatible with the TON blockchain can be presumed.
The fate of the project reaches many of the debated topics in the crypto community as TON Cat. And some of them compared it to other animal-themed tokens and contemplate if TCAT may also reach a fast-growing community and associated price surge. Some of them are much more pragmatic and advise to do one’s homework and properly study all the possibilities before investing in any new digital asset.
Like any other cryptocurrency including the newly launched ones, it is essential that TCAT investors need to make prudent investments. The increase in sales and market share that characterized the company in its early stage is provocative, but are also associated with considerable risk. The crypto markets remain highly unpredictable and any new token that is created can go up as much as it can go down.
Consequently, TON Cat success in the future might rely on certain factors First, the position of the company in supply chain will need to be established. Such factors are strength in community, clear strategy plan, use-case of the token in the corresponding ecosystem, and the general market situation. Thus, with the increasing amount of information on the objectives and plans for the further development of the project at the disposal of investors, it will be possible to estimate its future effectively.
The availability of TON Cat also underlines that there are still many new ideas being developed in the sphere of cryptocurrencies. New projects remain to be launched into the market and each possesses different strategies and benefits. This is helpful in the crypto-world because it adds to the development of more types of crypto assets and gives the investors a never-ending list of new possibilities.
As TCAT begins to take its stand in the world of crypto currencies, we are reminded of how the pace of this industry is. Tokens, at times, they can achieve high levels of visibility within a short span of time, subsequently building the interest of various traders and investors. But maintaining such continuous high performance, and creating actual sustained value cannot be achieved by a mere buzz or catch slogans.
Altogether, such steps as the entrance into the cryptocurrency market have made TON Cat definitely an object of attention. Originally, it attracted attention due to its first-month results, distinct identity, and connection to the TON environment. As the project develops and more information appears, the crypto community will be watching TCAT’s progress as the world of crypto continues to grow and become more and more saturated with different projects and endeavours.
