A historical sensation of the crypto world, SuperRare (RARE) has amazed the market with a phenomenal 55. From 1 day to the other, it increased the price by 70% and brought value of it to $0. 1534. This amazing ramp up is in line with the increased attention on the SuperRare platform but also with its opportunities in the greater NFT market. Market capitalization is now $107. This has been accompanied by a population of 64 million which is 55 percent higher. 73% increase. This ranks SuperRare at #300 based on trading volume, but exploding volumes and demand suggest so much more.

During the same period of 24 hours its trading volume has increased by a mind-boggling 217 percent. to $305 million, moving it to the 18th place in terms of trading volume among all the cryptocurrencies. At a volume to market capitalization ratio averaging 282, the oil majors were highly leveraged to oil prices when the price collapse opened the crisis. 52%, which proves that trading activity is leading the market of RARE and its demand among investors and traders. A ratio as high as this, where trading volume is nearly three times the market capitalization, is an bullish indicator that short-term trading is very much contributing towards the price action.

However, one of the most crucial pillars of SuperRare is its status as an NFT marketplace: SuperRare resembles such projects like Rarible: it is an ethereal-based platform that enables artists to sell their artworks in terms of NFTs. With the growth of the market for NFTs, sources such as SuperRare are becoming gradually more intriguing for buyers and artists. The recent price rise might be linked to the growing interest in digital art and NFTs knowing fully well that blockchain is still a quickly adapting technology market.

The supply of SuperRare tokens currently in circulation is 701. They will received 6 million RARE tokens, it will be about 70 percent of total supply. of its total and maximum supply of 1 billion tokens, 16 % will be set aside. This supply dynamic is particularly exciting because it points to the fact that the bulk of the tokens is already in circulation but there is potential for future emission. Based on fully diluted market capitalisation , it stood at $153. 45 million, SuperRare has included values of future token in total token supply underlining the optimistic market expectation among investors.

But what has it taken to trigger this 55% price increase? Othere are a number of possible contributors to this situation. Some of the reasons which may have played a role into the rapid growth of SuperRare is probably correlated with the renewed interest in the NFT market. There was a cooling-off period observed but afterwards NFTs experience a revival as more artists, creators and collectors joined in.

First of all, SuperRare’s niche orientation as an elite NFT platform will help it to profit from this shift. Since, more and more NFT’s become accepted and adopted, market places such as SuperRare that focus on high-quality and less quantity selected digital artworks will benefit.

Furthermore, the sharp rise of the trading volume implies the involvement of institution investors or a number of other large players in the market. When a currency increases its price by such a margin and the trading volume at the same time it is a clear indication that major investors are entering the market. Such measures also lead to this kind of effect that leads to a circular behavior where other buyers commence to buy this particular stock due to the rising prices hence enhancing the price surge.

Furthermore, there may be business-related factors where SuperRare ‘s rally may be linked to certain development or announcement from the platform. Pump events within the NFT projects occur when there is an announcement regarding partnerships or major art sales or platform improvements. Thus, though the features that became the focus of SuperRare’s internal activities are not immediately clear, one can assume that something got the attention of investors in the market that has recently shown a rapidly growing activity.

However, nobody is immune to a sharp increase and there are dangers with that, as are with any rapid growth. There may also be speculation in the increase of both the prices and trading volume of the corresponding instrument. When prices are going up at such a rate, they can equally become just as volatile and posts sharp selloffs if sentiment turns or if traders begin to cash in. Cryptocurrencies risk and variability, especially in the altcoins and NFTs are manifest in the realization that the same assets can have their prices go up as quickly as they can come down.

All the same, there is still much hope for SuperRare in the long term, owing to the fact that it occupies a rather specific segment within the vaster context of NFTs. With the increasing number of the artists who are opting to tokenize their work and with the awareness spiking around the idea of tokenized ownership, it cannot be denied that platforms such as SuperRare will more likely than not remain to be on the rise in the future. Additionally, as the technology of decentralised block-chain and NFT begin foraying into consumer accepted medium, SuperRare as a leader in the space of prestige collectible marketplace may also attract more audiences from collector or artists.

Another point of interest is the distribution of the rest of the tokens to be awarded. With 70. Those 16% already in circulation, the ways and timing of getting the other a 30% of the total supply are what will shape future prices. If SuperRare continues to distribute its tokens properly, not releasing hordes of new tokens at one time they could retain price stability and in fact drive the price up even more.

As of the moment, SuperRare has a fully diluted market capitalization of $153. A figure of 45 million make the impression that investors are taking into account potential increase in subscriptions in the future. Let it be argued that at the current status of $107 billion its market capitalization is perfectly reasonable. It is quite a lot of forty-four million contemplating the current spurt in the price which therefore, suggests the fully diluted valuation could still be expandable as SuperRare has the potential of capturing more of the NFT space.

In conclusion, SuperRare’s 55. 70% price spike is a surreal event in the crypto markets dictated by all sorts of reasons like revival of NFT interest or virtuous go up and trading mentality that has been seen in this platform or even promising improvements in the working of the platform.

On the one hand, it paints a picture of opportunity because of the increased prices, however, the volatile market makes such a move dangerous. Some of the collections are quite notable, especially to anyone with an interest in the future of NFTs and digital art, and SuperRare is a platform of notable importance in this sphere which has recently seen a considerable boost in value.