Sparklife, or SPS, is an unknown digital currency that has, however, been on the top lists in the digital currency market in recent weeks. At the time of writing this, the token has jumped 5.15% in value over the last 24 hours and is ranked #5733 by market cap, with $0.00006857 value.
This comes as rather surprising given Sparklife’s rather minuscule market cap of $137,139 for the financial year in question. The token’s daily trading volume has also risen to $1,544, an increase of 89.15%, and ranks it at #5208. This significant volume escalade implies improving interest and market availability of the asset.
Of all the things that can be asked about Sparklife, its tokenomics is perhaps one of the most captivating feats. Of the total and maximum of 10 billion SPS tokens, 2 billion are currently in circulation according to the project reports. The gradual release of tokens into circulation could be viewed as the manipulative action to influence supply side and possibly contribute to stabilising prices of tokens.
The os-SPARKD value of Sparklife is $685,693 which is the number that would be achieved should all the tokens be in circulation at the current value. Though on the basis of this figure we may get some idea about the future valuation of this project in case total supply comes in the market.
Sparklife was created and launched in Medellin, Colombia in October 2021. The idea is to rebuild the city inside Second Life and to create an internal circulation within the game and with users. In the current application – Sparklife, there are several features one of which is the participation in remade folkloric events through virtual reality (VR).
Of course, it is quite a positive signal for Sparklife since recent price growth is accompanied by a higher trading volume. Cryptocurrencies are always volatile markets, and to a greater extent, small-cap tokens are even more volatile; therefore, SPS was not immune.
That the project aims at establishing a virtual reality of Medellin and has offerings in the area of VR may be viewed as the project’s unique selling proposition in the flooded cryptocurrency market. However, experience shows that the key success factors for such business models are mainly related to user acceptance, technology advancement, and the establishment of ecosystems.
Like any other investment in the region of cryptocurrencies, shareholders should ensure that the do their homework. Sparklife has a detailed plan that any investor interested in investing in this power plant needs to consider before making his or her decision to invest in sparklife any of the said investment opportunities he or she needs to consider some key factors passed below.
The next few weeks will be important as investor’s attention will turn to the question of whether Sparklife can continue to scale the list of companies by market capitalization. There is, therefore, room for growth in the digital asset industry if the project can deliver as per the current commitment and broaden the network of users.
So, as time goes on people see that the market is active and constantly developing new projects, such as Sparklife. Now, there have larger tokens such as bitcoin and Ethereum however it is always wise to look at some of the small tokens that will help in indicating new trends and technologies to look out for in the future financial market.
Altogether, the recently achieved performance has put the focus on Sparklife in the conscious context of the cryptocurrency circle. Digital city recreation and VR experience are interesting directions, and a surge in price and trading volume makes this project worth attention. However, as with all cryptocurrencies, particularly those with lower market caps, interested investors should approach the investment carefully and undertake their research before venturing into any investment.
