It is now more than 2 weeks since Supra coin made it onto multiple crypto exchanges. So far its first two weeks of trading have been quite bullish, with price rallying considerably. But what does the future hold for this asset and can it soar to a $1 price in the near future?
To recap, Supra coin is the native cryptocurrency on similarly named layer 1 blockchain. One of the main goals of the network is to boost decentralization and interoperability across other networks.
Before we get to Supra coin price prediction, it is best to first recap the key factors driving demand. The cryptocurrency plays the following roles in the Supra blockchain ecosystem.
- Supra coin is the governance token hence giving holders voting rights on network related matters.
- It is used boost network security through staking which also provides passive rewards.
- It is the main transaction fee medium for the network hence generating organic demand based on utility.
- Supra network aims to be an attractive network for WEB3 games and the cryptocurrency will be used as payment for any games built on the network.
Of course there is also demand that comes from market speculation which has been the key driver of its latest performance.
Supra coin price action and tokenomics
One can usually tell whether a coin is bound to perform well from its initial performance and Supra coin seems quite promising. The cryptocurrency made its official debut on 27 November, hence there is a decent amount of time to work with. It was launched on multiple exchanges including Gate.io, BitGet, KuCoin, MEXC, and ByBit.
Supra was approaching 2 weeks since its launch at the time of writing. It launched at $0.003 and recently achieved a new all-time high at $0.08, meaning it has so far rallied by an impressive 2,662% within the first 2 weeks since launch. It exchanged hands at $0.063 at press time.
Supra coin had a $390.92 million marketcap at the time of writing. It has a maximum supply of 100 billion coins and its current circulating supply (self-reported) was 6 billion coins.
Supra coin price prediction
Supra’s recent marketcap gains suggest that it could easily push above $1 billion. However, keep in mind that there is a massive gap between the current circulating supply and the maximum supply, hence vesting schedules could dilute the price in the future.
Available data revealed that 10% of the tokens were unlocked and airdropped at the token generation event (TGE). It also revealed that the 90% remaining token will have a vesting schedule where 3% of tokens will be released every month for the next 30 months.
Based on this vesting schedule, roughly 2.8 billion new Supra coins will enter the market next month. Assuming that this rate was constant, then the cryptocurrency could add 33.6 billion coins to its marketcap, bringing the total marketcap to roughly 40 billion SURPA coins. Here is a chart demonstrating price predictions based on the above data.
| Marketcap | Circulating supply | Price |
| $1 billion | 6 billion | $0.166 |
| $6 billion | 6 billion | $1 |
| $1 billion | 40 billion | $0.025 |
| $5 billion | 40 billion | $0.125 |
The predictions with a 6 billion circulating supply are based on the possibility that the marketcap could reach $1 billion before the next vesting schedule. The 40 billion circulating supply is based on the 1 year vesting schedule.
Note that these figures may not necessarily be an accurate representation of how things will turn out. However, we did try to conduct the predictions with available data. It also does not constitute financial advice and we encourage our audience to conduct their own research.
