Finding Gems in CoinMarketCap - Xcavator International
In this series of stories, I will try to analyse the new cryptocurrencies that are being launched on the market, through an analysis of their tokenomics, to see whether or not it is worth investing in such a project.
In this story we will analyse the cryptocurrency Xcavator International
Disclaimer
What I show here are theoretical results of some of the current indicators that we can obtain from the cryptocurrency. A high percentage of the cryptocurrencies I analyse will fail. Before investing, do your own research on each of the projects.
What is Xcavator International
Xcavator is a token developed by a team of crypto enthusiasts having extensive experience in professional cryptocurrency mining and has been operating a network of miners across the globe since 2017. We have developed unique tools and algorithms to effectively mine the cryptocurrency in electricity efficient manner yielding higher returns. The mined cryptocurrencies will be used to scale-up our mining operations and purchase our tokens from the market to burn.
Analysis
The first thing we are going to do is estimate the price this cryptocurrency could reach, if it reaches a market cap of 5,000,000,000 $. I have chosen this market cap as a reference because it is not very high and I do not see an impossible value to reach.
Its current market cap is 625378.0 $ at a price of 0.08175 $. If the estimated market cup were to be reached, we would have a price of 98.04 $. This means an increase in the price of 119826.61 %.
As the total supply and the maximum supply are equal, we have a cryptocurrency that is not inflationary, and therefore it is more likely that the price will increase against the dollar.
Cryptocurrency trading volume in the last 24 hours has been 2786.0 $, with a ratio to its market cap of 0.004454.
This implies that the cryptocurrency is not being very volatile, so it is currently unlikely to see a rapid rise in price.
Conclusions
Pending further study of the project, so far the project does not seem to have taken off. This means that it may take off in the long term or never take off at all. I would not invest here right now.