Zama [ZAMA] It is currently in a bullish phase as altcoins have risen to new highs of $0.092 but then reversed. As of the writingZAMA’s price was around $0.056, up by 27% daily charts and extending its surge of 67% week-to-week.
At the same time, the market cap crossed the $200 million mark while volume jumped 149% to $274 million, reflecting high market activity.
Two consecutive days have seen a rise in daily turnover due to the increase of participation. A turnover of $159,9 million, up from $150 million, was noted, Strong buying pressure is driving the current trend.
ZAMA sees renewed capital inflow
Recent attention and capital have been focused on privacy tokens. Investors are discovering low-cap tokens amid this industry-wide buzz.
ZAMA has been one of these tokens. These investors have brought along massive capital into the asset with demand for ZAMA skyrocketing across the spot and futures.
On the 19th September, altcoins’ Buy Volume reached a new record of 412.6 millions, whereas volume remained elevated at 390,000,000. The Delta increased to 21 millions.
On the 20th, September, this trend was continued with an increase in Buy Volume to 70 Million at time of publication and a positive delta of 6 Million.
The spot market showed a positive Delta, which indicated a high level of buying as the orders were placed. A sustained buy-in often maintains a bullish market structure
ZAMA’s stock is booming as demand shrinks
The tokens have also become more attractive for investors due to their supply dynamic. The reduced inventory has been a major incentive for investors to bring back buyers.
Notably, over 83% of the circulating supply The stakes are 2.2 billion ZAMA out of 2.5 billion ZAMA in circulation. 2.2 Billion ZAMA out of the 2.5 Billion ZAMA circulating supply is staked. This high stakes supply can reduce potential pressure and even little demand will be enough to drive the altcoin up.
What next for ZAMA cryptocurrency?
ZAMA currently sits in an uptrend, fueled by strong demand. The Aroon Up Line was 92% at the time this article was written, which confirms the strong upward momentum.
DMI, or the DMI Indicator, confirms this opinion, as +DI is around 49. ZAMA’s gains will increase if staked supplies continue to grow and demand stays the same.
ZAMA can make more profits by holding $0.08, and aiming to recover $0.09. If $0.08 does not hold, altcoins will drop to $0.05.
Final summary
- Zama surged 27 percent, reaching a record high of $0.052, and then fell back to $0.080 by the time press was published.
- ZAMA’s rally was fueled by an increase in capital flow into a market with reduced supply.
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Source: ambcrypto.com
