In the universe of cryptocurrencies, a new entrant has appeared, thus causing interest and attracting investments from different people. Recent entrant to the digital currency sphere is Batman symbol that trades under the symbol BATMAN; this digital currency has a perfect mix of cult like characters and blockchain genius.
New to the scene is the Batman cryptocurrency, which has absolutely no relation to the famous DC Comics superhero character; at time of writing this it can be bought for $0.05143 per token. This valuation makes it fall under the category of micro-cap cryptocurrencies, which could be considered high risk due to their uncertainty but also high reward. Area represents the place of coin in the market at about $51,720,972 and its rank is 3368 in the list of global cryptocurrencies.
Another interesting factor based on the market analysis of Batman is its 24 trading volume usd reaching $209,066.45. Such level of activity indicates that there is increasing attention paid by traders and investors to this coin, even though it occupies a low rank in terms of market capitalization. Liquidity-to-market capitalization ratio, a measure of the trading activity of an asset relative to its market capitalization, is currently set at 0.004, showing that although the asset has a relatively low number of daily transactions the market still recognizes it as an asset of significance.
There are 1 billion BATMAN tokens available with the same figure being stated as the total and circulating supply. It is striking that the amount of total and circulating supply is alike, implying that all tokens are in circulation, meaning that there will be no more tokens to be issued in the future and thus, eliminating the threat of dilution common for many cryptocurrencies when large portions of coins remain locked in reserves.
However, as it was indicated earlier, the max supply of Batman token is also 1,000,000,000 BR tokens, which is equal to the current circulating supply. This fixed supply model is the same as Bitcoin that is currently used as an inflation hedge. In particular, the author claims that by setting a fixed supply Batman wants to introduce scarcity and if the demand for Batman rises in the future, this will lead to an increase in the asset’s value or price.
Looking at its fully diluted market capitalisation, which assumes that all the tokens are in circulation and at the current price, Batman is worth a $51.43million. It is also quite close to the actual market cap of the respective cryptocurrencies and this fact solidifies our stance that all circulating tokens are in our possession.
Analyzing the current stock price of Batman we see that it has a very minor upward movement, which is reflected in the change in the price of the last 24 hours equal to 0.74%. However, as it is the case with any other cryptocurrencies, especially some newcomers to the scene, price swings are the norm and thus, earlier performance is predictive of future results in no way.
Batman cryptocurrency is based on Ethereum and uses the most recognized and widespread token standard, called ERC-20. This choice of blockchain infrastructure gives Batman the security of Ethereum, its smart contacts, plus the backing of Ethereum’s ecosystem. It also signifies that Batman can be easily implemented and used with Ethereum wallets and decentralized applications subsequently increasing the contingents use by crypto enabled users.
Batman launched on November 5, 2021, to become home to 1,758+ distinct wallets where the token has been actively used in 5,063+ transactions. Compared to more mainstream cryptocurrencies these numbers present a relatively small growing community of active users accompanied by on-chain activity that might hint at real life use rather than mere investments.
Like in the case with any other newer type of digital currency, people willing to invest in Batman should approach it carefully and invest their time in the research. Being a relatively low ranking and market cap means that the actual price of the project can rapidly increase or decline. Also it should be stated that the cryptocurrency market as a whole it is highly volatile and is being ruled in most of the world by unpredictable regulations that can either enhance or negatively influence the growth of the tokens within the market.
Although the name of the Batman cryptocurrency refers to the famous superhero, it is not an official product of the brands and franchises, but the presence of the name of such a figure as Batman could attract certain investors. But remember, having a recognizable name doesn’t make the cryptocurrency inherently successful or genuine. It is in the best interest of the investors to look at the real end product behind the brand and the actual technology behind it, need for which the product is being developed and the team behind the conception and the actual implementation of the use of the brand.
As Batman is still in the process of entering the cryptocurrency market, it will be important to see how Batman positions itself in this market and how it will define its added value for consumers in a market that is already very saturated. These few coming months will be very defining for Batman as it tries to grow the network and find more applications of it in addition to its ability to seek an exchange listing.
Overall therefore, the Batman cryptocurrency can be said to be a relatively novel addition to the market in the creation of digital assets. This gives it all the ingredients of a defi project in that it leverages a fixed supply model, ethereum based infrastructure, and a growing user base which could see it gain the attention of traditional crypto users and new money allocators to emerging opportunities. But, like with every investment in the sphere of cryptocurrencies, it is crucial to carry out research and risk evaluation, and employ the stake and hold strategy for every would-be investor considering Batman for investment.
