Cryptocurrencies

Text

How much is the circulation of MVL (MVL) coins?

As of March 2023, the circulating supply of MVL (MVL) coins is approximately 4,300,000 coins, out of a maximum supply of 500 million.

Dec 14, 2024 at 01:12 pm

How much is the Circulation of MVL (MVL) Coins?

MVL (MVL) is the native digital asset of the MoveZ platform, a move-to-earn (M2E) ecosystem that uses satellite and blockchain technology to track and reward users for their real-world physical activities.

Background of MoveZ (MVL)

MoveZ is a blockchain-based platform that combines the concepts of GameFi and fitness, incentivizing users to engage in physical activities like walking, running, or cycling. As users move, MoveZ's unique Move-to-Earn model rewards them with MVL tokens. MVL coins can be used for various purposes within the platform, including purchasing in-game assets, participating in governance, and unlocking exclusive features.

Circulating Supply of MVL Coins

The circulating supply of MVL coins is a crucial indicator for understanding the availability and distribution of tokens in the market. It plays a significant role in determining the overall market cap and liquidity of the token.

The MoveZ ecosystem has a maximum supply of 500 million MVL coins. As of March 2023, the circulating supply of MVL stands at around 4,300,000 coins. This number is expected to increase over time as more users join the MoveZ platform and start earning MVL tokens through physical activities.

Factors Affecting the Circulating Supply of MVL Coins

The circulating supply of MVL coins can be influenced by several factors:

Minting: New MVL tokens can be introduced into circulation through the process of block creation on the blockchain. This can occur during the mining process or through other mechanisms as per the protocol's design.
Burning: The total supply of MVL coins can be reduced through a process known as burning. Burning involves sending tokens to a specific address or wallet from which they cannot be retrieved, effectively removing them from circulation. Burning can be done to increase the scarcity of the token and maintain or increase its value.
Staking: Some protocols allow users to stake their tokens, locking them in a contract for a specific period. When tokens are staked, they are not considered part of the circulating supply as they cannot be traded or sold during the staking period. Staking mechanisms can serve various purposes, such as earning staking rewards, participating in consensus algorithms, and securing the blockchain network.

Conclusion

The circulating supply of MVL coins is a significant factor in determining its market value and liquidity. It is a dynamic value that can fluctuate as a result of minting, burning, staking, and the overall activity within the MoveZ platform. As MoveZ gains traction and user adoption increases, the demand for MVL tokens may rise, potentially driving the price higher and expanding the total market cap.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

WHITE

$0.0004

69.26%

Trade Now
VELO

$0.2461

68.80%

Trade Now
PRCL

$0.5665

34.75%

Trade Now
SPEC

$16.1263

28.09%

Trade Now
AIXBT

$0.2645

26.29%

Trade Now
HYPE

$21.4612

26.04%

Trade Now

Latest Crypto News

4 Altcoins Making Waves This December
2024-12-14 14:35:02
Galaxy Digital Withdraws $30M in UNI and AAVE From Exchanges, Signaling Growing Institutional Interest in DeFi
2024-12-14 14:55:01
Pepe Meme: A New Meme Coin With the Potential to Overshadow Dogecoin and Bonk
2024-12-14 15:05:02
Dogecoin (DOGE) Price Predictions for 2025: Will the Meme Coin Surge?
2024-12-14 14:55:01
How to Secure Free Kujira $KUJI Tokens – No Fees Required!
2024-12-14 14:55:01
Ethereum (ETH) Showing Signs of Resilient Market Activity, Targeting $5000 Spot
2024-12-14 15:05:02

Related knowledge

Can X Empire (X) coins be invested?

Dec 14,2024 at 03:12pm

Can X Empire (X) Coins Be Invested?IntroductionX Empire (X) is a decentralized ecosystem encompassing a native utility token (X), a blockchain-powered gaming platform (X World Games), and a decentralized exchange (XSwap). The X coin has garnered significant attention within the cryptocurrency community, prompting many to question its investment potentia...

What is the total circulation of Shentu (CTK) coins?

Dec 14,2024 at 03:42pm

What is the Total Circulation of Shentu (CTK) Coins?IntroductionShentu (CTK) is a blockchain-based data center ecosystem that aims to enhance the efficiency and connectivity of the digital infrastructure industry. Total circulation refers to the number of coins that are currently in circulation, which directly impacts the supply and demand dynamics of t...

When is the X Empire (X) coin likely to skyrocket?

Dec 14,2024 at 02:31pm

When is the X Empire (X) Coin Likely to Skyrocket?1. Key Factors Influencing X Coin GrowthProduct Development: The launch of new products and features can drive demand for X coins, as they increase the utility and functionality of the ecosystem. Major updates, such as the introduction of decentralized applications (dApps) or upgrades to the underlying b...

Which formal platforms can buy and sell Shentu (CTK) coins?

Dec 14,2024 at 03:34pm

Which Formal Platforms Can Buy and Sell Shentu (CTK) Coins?Shentu (CTK) is a decentralized blockchain platform designed to power a new generation of decentralized applications (dApps). It was created by a team of experienced blockchain developers with the goal of making it easy for developers to build and deploy dApps.CTK is the native cryptocurrency of...

Is USDJ (USDJ) currency worth investing in?

Dec 14,2024 at 03:00pm

Is USDJ (USDJ) Currency Worth Investing In?USDJ is a decentralized stablecoin introduced by Justin Sun's Tron ecosystem that is backed by TRX, the platform's native token. It is pegged to the US dollar, with the aim of providing stability and reduced volatility compared to other cryptocurrencies. USDJ has various use cases within the Tron ecosystem, suc...

How to mention Bone ShibaSwap (BONE) currency to the wallet?

Dec 14,2024 at 01:54pm

How to Mention Bone ShibaSwap (BONE) Currency to the Wallet1. Check Wallet CompatibilityBefore adding BONE to your wallet, ensure it supports the token. Popular options include MetaMask, Trust Wallet, and Coinbase Wallet.2. Configure Wallet NetworkIf your wallet doesn't automatically connect to the correct network, you may need to manually configure it....