One of the most important factors to consider when looking to buy a coin is the number of coins in circulation. That’s because the laws of economics state that when the supply of a commodity is low relative to its demand, prices rise. Going by this simple and logical law of economics, then it makes lots of sense to invest in Salus (SLS) coin. That’s because this coin has a circulating supply of slightly over 1 million coins only.
That’s a relatively low volume considering that there are coins in the market that have a supply of over a billion coins, while others even have an infinite supply, and their value growth is stagnant. Going by the ever-increasing demand for cryptocurrencies, it then follows that the value of a low supply coin like Salus (SLS) stands a chance to increase in value in the long-run.
Already Salus (SLS) has shown signs of consistent growth in value. If you look at the long-term chart of this coin, it is clear that it is on a consistent and predictable uptrend. In December 2017 during the cryptocurrency peak, this coin was trading at around $74. It then established a strong support level at around $37. From there it has been on a consistent uptrend, with the latest support level standing at $66. The higher lows that this coin is forming is a clear sign of strong upside momentum. Salus (SLS) is currently trading at over $100, which is far away than the $66 support level. This is a good confirmation of the uptrend.
However, the most important factor to the growth of a coin other than the number of coins in circulation is the number of people interested in it. This is usually determined by the volumes of a coin traded at any given point in time. On this front, it is clear that Salus is a coin on the move. In the last 24 hours, Salus (SLS) has gained more than 50%, against a background of increasing volumes. In that same period, the rest of the market has fallen by a significant margin.
For instance, Bitcoin has fallen below $11,000 from a high of $11,500. Ethereum too is now trading at below $700, which is indicative of a market that is on a downtrend. In essence, the fact that Salus is on an uptrend is a clear sign that investors are taking note of this coin, and buying it up in large numbers. As more people get to learn of the important role that circulating volumes have on this coin, you can expect its values to increase by an even bigger margin.
Then there is also the fact that this coin has a strong use case and seems to be gaining a foothold in the gaming industry. It has already been adopted by BC Casino and Directbet. As the use case of this coin increases, expect its value to shoot up by a large margin.
In the medium term, this coin has the potential to hit a valuation of $200 and above, making the current price a nice entry point for someone looking to make money in cryptos.