If you’re interested in exploring other new coins and tokens from 2022 that have experienced rapid market cap growth, be sure to check the ones listed below. As with all new cryptocurrencies, the risks are high, but so are the potential rewards. Please be aware that you could lose your entire investment, and the specific cryptocurrencies mentioned may not be available in all countries worldwide.
The Top Three New Coins by Market Capitalization
The cryptocurrency sector is witnessing an influx of new projects, with many driven by expectations of an industry-wide surge. Investors appear to have confidence in these emerging assets, directing substantial funds into them.
NBLH – Market Cap of 1.8 Million, Not 18.5 Billion
On August 29th, Nblh (NBLH), a cryptocurrency priced at $0.02 and focused on real estate, appeared to have one of the highest market caps of any new crypto listed on CoinMarketCap. However, upon closer inspection, the circulating supply and total supply figures are inaccurate. While some platforms indicated a market cap of 182 million, or even 18.5 billion USD for this new coin, the actual market cap is only 1.8 million USD. Etherscan reports that NBLH has just 351 holders, with a total supply of 900 billion tokens, although only 9 billion tokens are in circulation.
Instead of buying this coin, as some less reputable sites may suggest, CryptoChipy recommends staying out of it, or even shorting it if possible. We anticipate that the South Korean company behind NBLH will encounter difficulties down the line.
Bitcoin Pay (BTCPAY) and Its Correct Market Cap
Bitcoin Pay (BTCPAY), another almost brand-new token from 2022, has a confusing name that resembles Bitcoin (BTC), potentially misleading investors into thinking it’s closely related to Bitcoin, even though it isn’t. The total supply of Bitcoin Pay is 20,477,005 tokens, not 10,658,090.04 as CoinMarketCap mistakenly reported. Consequently, the market cap is about 151 million USD, not the 322.8 million USD previously stated.
New tokens often face such issues, as founders may modify their smart contracts or addresses, or make adjustments to features like buy and sell taxes or locked liquidity. Despite this, CryptoChipy finds the market cap for Bitcoin Pay, especially considering it’s tied to a new crypto exchange, to be unusually high. At this stage, the downside risk likely outweighs the upside potential. A detailed review of BTCPAY will be coming soon on CryptoChipy.
Another common error is the circulating supply figure for Bitcoin Pay, which is often listed as approximately half of the total supply. Always check the original contract of a cryptocurrency to confirm liquidity lock status and the current outstanding tokens. Съвет: CryptoChipy always provides the buy tax, sell tax, and references to the original contracts and other brand links to ensure you can verify and find relevant information easily.
Ivar Coin – Market Cap of 5.5 USD, Not 13 Billion USD
The fourth coin, Ivar Coin (IVAR), may appear vastly more valuable than it actually is, given its enormous reported max supply of 10 trillion tokens. CoinMarketCap calculated the market cap based on the max supply, but they have since removed the original market cap and only list the “fully diluted market cap” today. However, the reality is very different: the circulating supply is fewer than 5 tokens (around 4.52 IVAR). Thus, the market cap is actually calculated as 1.23 (current token price) multiplied by 4.52 (circulating supply), resulting in a market cap of just 5.5 USD, not the imagined 13 trillion USD.
Забележка: If you see a market cap number but no information on the circulating or total supply, don’t assume that the fully diluted market cap is the same thing. Ensure both figures are provided to calculate the “real” market cap.
Внимание: Exercise caution when dealing with new cryptocurrencies. While many are legitimate, there are also numerous scams or attempts to defraud investors.
The Bank of Korea Lifts ICO Ban
The Bank of Korea (BOK), the country’s central bank, has voiced support for changes to the legislation on initial coin offerings (ICOs), hinting that the full ban on ICOs in South Korea may soon be lifted.
The ban, initially introduced in late 2017, was a response to the cryptocurrency boom in the country. However, several companies argue that the ban has hindered their efforts to develop crypto assets as part of their long-term business strategies. Major corporations, such as Kakao and Hyundai Group, have had to launch ICOs through overseas subsidiaries in places like Switzerland and Singapore. With the new South Korean president, Yoon Seok-Yul, signaling a willingness to reverse the ban, several businesses are now eager to initiate local coin distributions.
OK Financial Group and SK Square, both part of the SK Group, have announced plans to release their own cryptocurrencies, with many other businesses expressing similar intentions.
New EU Crypto Law
The BOK’s recent statement may signal the end of the ICO ban, especially after their examination of the EU’s new crypto laws. According to Newsis, the BOK has released a report on the EU’s crypto law, which includes suggestions for South Korea’s government. The European legislation aims to control illicit crypto flows and mandates that all coins and tokens must have a local entity to be licensed.
The BOK recommends that South Korea create a legal framework for local crypto asset issuance, while also ensuring that all ICOs undergo regulatory scrutiny. Recent EU actions indicate that ICOs may soon be subject to the same level of regulation as cryptocurrency exchanges. Legalizing controlled ICOs may help foster industry growth while providing protection for users and investors.
Additionally, stablecoins will need to comply with regulations similar to the EU’s Markets in Cryptoassets (MiCA) standards. Future crypto laws are unlikely to address central bank digital currencies (CBDCs).
