Cryptos seem to have rebounded from their subdued phase earlier this year. According to CoinMarketCap, which tracks over 18,400 crypto assets, the total market cap of all assets combined was as low as US$1.5 trillion almost two months back. It rose to nearly US$2 trillion in early February but fell under US$1.6 trillion again on February 24.
A month later, the figure stood close to US$2 trillion as of writing, after gains registered by BTC, ETH and others over the past 24 hours. One crypto, Crypterium or the CRPT token was up over 100% in the past 24 hours.
Another asset, the SAITAMA crypto was up by nearly 20%. Let’s know more about the project.
What is Saitama cryptocurrency?
The project claims to be an ecosystem where users can learn about cryptocurrencies and use these assets as a form of money. The whitepaper talks about different segments that include a wallet and even a non-fungible token (NFT) launchpad. The Saitama project claims to be targeting Gen Z, as it appears from the whitepaper, but how it progresses in this respect has yet to be seen.
The wallet, SaitaMask, the project claims, would enable storage of cryptos, besides providing education on finance. Another interesting part is Saitama’s marketplace, where it claims tokens can be used to undertake the purchase of goods and services.
How this develops with time is yet to be seen. The project also includes what it calls Saitama Studios, which can enable the development of games, shows, and NFTs. In-house NFTs, which include Saita Car and virtual jewelry are also mentioned in the whitepaper.
Saitama crypto (SAITAMA)
The project’s native token is titled SAITAMA. The Saitama token would enable transactions within the project’s ecosystem. It is an ERC-20 (based on Ethereum’s blockchain) coin, and the whitepaper states that enthusiasts can get hold of it on Uniswap by swapping ETH tokens.
Saitama crypto’s price
CoinMarketCap mentioned Saitama token’s self-reported market cap as close to US$600 million as of writing. Both the trading volume and price of the token were in the green, after having surged over the past 24 hours.
The price of the Saitama token was nearly US$0.000000014. In early January 2022, the Saitama token’s price was nearly US$0.000000085. Ever since its listing on CoinMarketCap, the token has exhibited extreme price volatility, which means crypto enthusiasts must exercise extreme caution.
Bottom line
The aggregate market cap of the crypto world is once again nearing US$2 trillion, aided by an appreciation lately in tokens like Crypterium and Axie Infinity. Saitama is a relatively newer project as compared to names like Bitcoin and Ethereum.
The price has remained volatile so far, though it has gained of late. SAITAMA token’s price prediction for the remainder of this year is not possible due to volatility. The project’s claim of being a crypto ecosystem for Gen Z has yet to be proven.
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