Five new coins control nearly $50 billion of market capitalization in a matter of days

An extended crypto winter does not seem to deter investors and developers of new digital assets as they remain interested in the market, focusing on interest through massive capital inflows into new cryptocurrencies.

Notably, as of October 7, the top five new cryptocurrencies tracked by CoinMarketCap had a cumulative capitalization of $50.75 billion within four days of listing. The non-fungible (NFT) token of RIMAUNANGIS (RTX) tops the top five with a market capitalization of $27.8 billion, with assets trading at $13.89.

GOLD COIN (GOLC), trading at $61, is in second place with a market capitalization of $17.8 billion. The original focuses mainly on staking. Elsewhere, gaming ecosystem Joystick (JOY) token ranks third with a market capitalization of $3.29 billion, while clean tech token Elan (ELAN) has a capitalization of $1.05 billion, with a market cap of $1.04.

Top five new coins by market capitalization. Source: CoinMarketCap

Catalysts of interest in new coins

Interest in new currencies contrasts with current market trends as most assets have been corrected, as investors choose to stay put and watch. But in this case, there are several factors that are likely to arouse interest with the possibility of future recovery, ranking at the top.

Notably, some of the new coins are trying to imitate Bitcoin (BTC), an asset that greatly benefited early investors. Therefore, based on elements such as Fear of Losing (FOMO), investors choose these new coins and consider aspects such as ease of use.

Despite the recent market crash, analysts argue that the market is still growing, and investors should anticipate a possible rally in the coming months.

Caution when dealing with new currencies

Elsewhere, while the new coins are generating interest, it is worth noting that these new coins were previously identified as not working in the interest of crypto investors. More research is usually recommended before investing as fraudsters have profited from the launch of new assets under pump and dump schemes.

At the same time, the sustainability of the new assets will depend on the maturity of the crypto sector. Despite attracting a lot of attention, it does not lead to success, especially with analysts predicting that most of the tokens will likely be wiped out.

warning: The content of this website should not be considered as investment advice. Investments are speculative. When you invest, your capital is at risk.

Post-control five new coins with nearly $50 billion in market capitalization appeared within days for the first time on Coinphony.

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