DeepOnion Circulating Supply Increase - What Does it Mean?

(Note: I am not a financial planner nor is this financial advice. Always do your research before making investment decisions)

Over the last few weeks DeepOnion had been listed at around 4.8 million $Onion in circulation on Coinmaketcap.com. On Monday a correction was made, and the circulating supply rose all the way up to 9.7 million , increasing the market cap ranking for DeepOnion to 208 on CMC’s website.

(DeepOnion's circulating supply increased to over 9.7 million this week)

What does this mean in the overall scheme of things? With a total supply of around 20 million coins, with the corrected update this can potentially increase the value in DeepOnion. With almost half of the total supply in circulation, this leaves a lower number of coins available to be distributed, creating a lower supply and a higher demand. Once investors are able to see the potential for a great ROI at the current price this is a great sign the value will continue to increase.

(On Monday DeepOnion rose to 208th in market capitalization on Coinmarketcap.com)

The market cap also has increased as result of this correction. DeepOnion went from a market cap of 13 million all the way to 48 million. The market cap number formula is as follows.

Market cap = price x total coins in circulation.

This news is major for DeepOnion as the price rose to 50% in the last few days trading from the near $2 range to around $5 on Wednesday. For the DeepOnion community this great news, in a month that has already been one hell of a roller coaster ride!