Here are the top 5 newly listed coins by largest market cap

After the cryptocurrency market showed signs of recovering from an extended bear market, it appears that investors are showing interest in the potential of the newly created digital asset. This belief is highlighted by the significant influx of capital into selected newly listed digital currencies.

Notably, as of October 31, the top five new cryptocurrencies tracked by CoinMarketCap commanded a cumulative market capitalization of over $1.4 billion within five days of being listed on the platform. The Web3-focused cryptocurrency project is topping Melody (SNS) with a capital of $762.3 million, trading at $0.12. The token is built on the BNB blockchain. Retail-focused Kingaru (KRU), which has $256.1 million of shares traded at $0.2, ranks second.

Elsewhere, BULL BTC CLUB (BBC) deposit and non-fungible (NFT) assets have a market capitalization of $158.9 million, followed by decentralized application development platform (dApp) Nirvana Chain (NAC) with a total market capitalization of $138.01 million. Interestingly, the Italian national team fan token (ITA) which is trading at $3.09 has a capitalization of $92.66 million backed by Chiliz Network (CHZ).

Top Five Recently Added Cryptocurrencies According to Market Cap. Source: CoinMarketCap

Drivers of capital flows into new assets

In fact, the significant market value that the assets hold in the midst of a falling market is the key to the long-term potential of the cryptocurrency. In particular, investors tend to trust assets with a powerful tool that can lead to high adoption along with increased value.

Market capitalization also highlights the risks associated with cryptocurrencies. In some cases, assets that recorded large capital inflows in the early stages turned out to be scams.

In addition, investors are likely to get a stake in the assets to profit in the future, as experts argue that the current bear market is short-lived and part of the overall growth path. There is a general consensus among crypto advocates that bear markets provide scope for building great products that intend to follow the growth trajectory of assets such as Bitcoin (BTC) and Ethereum (ETH).

Overall, the 2022 market has not affected developers’ intentions, with Coinphony reporting that more than 5,000 new assets have emerged this year alone.

The rise of fan icons

In addition, the emergence of the Italian football team fan symbol highlights the recent growth of this cryptocurrency.

Fan icons are emerging as an important component in the world of sports, driving sponsorship and marketing campaigns. At the same time, tokens are tools for football teams to implement fan engagement strategies.

Fantoken’s activities have increased ahead of the 2022 FIFA World Cup scheduled in Qatar from November 20. Among other things, interest has taken off assets such as Chili’s. Chiliz is a token voting platform that seeks to give sports fans more bureaucracy while helping them manage their favorite esports organizations, teams, and sports.

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

The post below is the top 5 newly listed coins by largest market cap that appeared first on Coinphony.

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