Supra Price

What is Supra Token?

Supra Token (SUPRA) operates as a Layer-1 blockchain ecosystem, designed to streamline and enhance the development of decentralized applications. The main goal of SupraOracles is to provide a cross-chain oracle for developers, facilitating easier and more efficient data access across multiple blockchain networks. This focus on interoperability positions Supra as a versatile tool in the blockchain developer’s toolkit.

Additionally, Supra Token offers supra’s suite of tools aimed at creating, deploying, and maintaining data applications, emphasizing its developer-friendly approach. This makes Supra not just a token, but a comprehensive platform that supports the full lifecycle of blockchain applications.

Key Takeaways

• Supra Token operates as a Layer-1 blockchain ecosystem focused on enhancing decentralized application development through cross-chain oracle technology.
• The Supra Network boasts high transaction performance and interoperability, enabling seamless interactions across multiple blockchain platforms with secure smart contract capabilities.
• With a current market cap of approximately $86.71 million and a total supply capped at 100 billion tokens, the limited circulating supply of Supra Token influences its market dynamics and future valuation.

Supra Network Overview

The launch of the Supra Network’s mainnet marked a significant milestone, positioning it as a key player in the Web3 ecosystem with a strong focus on sustainability and stability. This network is designed to enhance interoperability among various blockchain networks, setting it apart from competitors that may lack this feature. Supra’s smart contracts utilize a hybrid consensus mechanism combining Proof of Stake and Congress Network, enhancing data validation and ensuring robust security.

The network aims for high transaction performance, boasting capabilities of 500,000 transactions per second across its globally distributed nodes, making it one of the fastest blockchain platforms available. SupraOracles enables compatibility across various decentralized applications, allowing seamless interactions without compatibility issues. This high performance and compatibility make the Supra Network an attractive choice for developers looking to build and scale decentralized applications.

Furthermore, the Supra Network architecture includes a MultiVM compatibility feature, enabling smart contracts to be deployed from various blockchain ecosystems. This flexibility, combined with its decentralized architecture and robust oracle integrations, ensures the security and efficiency of smart contracts on the Supra Network.

Key Features of Supra Token

Supra Token (SUPRA) serves as the native utility token that facilitates a wide range of services within the Supra Network. From providing staking opportunities to enabling seamless cross-chain transactions, SUPRA is designed to be versatile and functional.

The token’s decentralized oracles connect smart contracts with real-world data, enhancing the functionality and responsiveness of decentralized applications.

Interoperability

Supra aims to enhance blockchain operations through advanced oracle technology that facilitates cross-chain interactions. Utilizing a system of nodes and protocols, Supra facilitates cross-chain communication, enhancing overall efficiency and creating a more interconnected blockchain ecosystem.

The platform’s design supports multi-chain compatibility, allowing applications to operate across different blockchain networks without facing compatibility issues. This innovative groundbreaking protocols includes simplifies the process for both developers and users, elevating interoperability to new heights.

Decentralized Oracles

Supra Oracles enable the integration of real-world data into blockchain, significantly enhancing the functionality of decentralized applications. These highly performant decentralized oracles ensure that smart contracts can access reliable real-time data, which is crucial for sectors such as DeFi, insurance, and gaming. Aggregating data from multiple sources, Supra Oracles offer accurate and timely information, minimizing the risk of manipulation.

The use of a distributed network of nodes ensures data integrity and minimizes risks, offering a more reliable alternative to traditional centralized systems. This decentralized bridge between real-world data and blockchain applications allows developers to create more dynamic and responsive solutions.

Secure Smart Contracts

Secure smart contracts are essential in ensuring trust and reliability within the blockchain ecosystem. Supra Token’s development prioritizes the security of its smart contracts to protect users and enhance transaction integrity, which is a critical factor for widespread adoption. Market analysts suggest that this focus on secure smart contracts may give Supra Token a competitive edge over other tokens that do not prioritize this aspect.

The emphasis on secure smart contracts bolsters user confidence and could potentially lead to increased adoption and value of the Supra Token. This security, combined with the highly performant decentralized oracle technology, makes Supra a robust and reliable choice for developers and users alike.

Current Supra Price

The current price of the Supra Token is $0.009725, reflecting a recent percentage change of 2.77% over the last 24 hours. This price point positions SUPRA as an accessible entry for new investors while also showing significant growth potential. The daily trading volume of the Supra Token stands at $17,834,599, indicating active trading and interest in the market.

Notably, the current price of SUPRA is 53.81% above its all-time low, yet 33.84% below its all-time high. This historical perspective provides insights into the token’s market volatility and potential for future price movements. Observing market changes and predictions on the SUPRA to USD chart helps investors make informed decisions.

Market Cap and Circulating Supply

Understanding the market cap and circulating supply of Supra Token is crucial for evaluating its market position and potential. These metrics provide insights into the token’s overall value and the amount available for trading in the market.

Market Cap Overview

The current market cap of SUPRA stands at around $86.71 million, with a fully diluted market cap of approximately $1.40 billion. This disparity indicates that only a small fraction of the total tokens is in circulation, currently only around 6%. The fully diluted valuation of Supra (SUPRA) represents the potential maximum market cap if all tokens were in circulation, which is approximately $1,007,956,199.

Such a significant difference between the fully diluted market cap and the current market cap can signal potential selling pressure in the future. Investors should be aware of this disparity as it impacts the token’s long-term valuation and market dynamics.

Circulating Supply

The total supply of SUPRA tokens has increased to 100 billion to support the operational needs of the platform. This maximum supply cap is set at 100 billion tokens, ensuring that no more than this amount will ever be in circulation. Currently, only about 6% of the total SUPRA supply is in circulation, which is a key factor for investors to consider.

This limited circulating supply can impact the token’s scarcity and valuation, potentially leading to price fluctuations as more tokens are released into the market. Understanding these supply dynamics is essential for making informed investment decisions.

Trading Supra Tokens

SUPRA tokens can be traded on various platforms, including both centralized and decentralized exchanges. Popular trading pairs for SUPRA include SUPRA/USDT and SUPRA/ETH, which are available on platforms like Bybit. These trading pairs provide liquidity and flexibility for investors looking to enter or exit positions in SUPRA.

The availability of SUPRA tokens on multiple exchanges ensures that traders have access to various trading options and can benefit from competitive pricing. Utilizing the usd converter supra for SUPRA can help traders monitor the supra price and make informed trading decisions.

Storage Options for SUPRA

There are several storage options available for SUPRA, including custodial wallets, self-custody wallets, and hardware wallets. Each option offers different levels of security and convenience, catering to the diverse needs of SUPRA token holders.

Custodial Wallets

Custodial wallets hold users’ private keys and are managed by third-party services, which can simplify transactions. Often provided by exchanges or platforms, these wallets manage users’ funds and account for limiting direct control over assets but offering convenience and easy access. For those who prefer not to manage private keys themselves, custodial wallets are an attractive option.

However, using a custodial wallet requires trust in the provider, as they store users’ private keys on behalf of the user. This trade-off between control and convenience is a critical consideration for SUPRA token holders.

Self-Custody Wallets

Self-custody wallets, like StarKey, allow users to claim control over their private keys, providing enhanced security and ownership. These wallets give users full control over their private keys, which enhances security but also increases the responsibility for keeping keys safe.

Using self-custody wallets necessitates safeguarding private keys and seed phrases, as losing them can result in the permanent loss of assets. This option is ideal for users who value security and control over convenience.

Hardware Wallets

Hardware wallets provide a physical form of storage for SUPRA tokens, enhancing security by keeping private keys offline. Leading brands like Trezor and Ledger offer secure storage options with extensive coin support, making them popular choices among crypto enthusiasts.

Some hardware wallets feature additional security measures like biometric access, making them more user-friendly and secure compared to traditional models. These features provide an added layer of protection for SUPRA token holders.

SUPRA's Future Prospects

The Supra Network has received recognition within the crypto industry, qualifying for multiple accelerator programs and securing substantial funding. This support underscores the market’s confidence in Supra Token’s innovative features and its potential to address common blockchain challenges. The overall market acceptance of Supra Token is increasingly viewed as favorable, which bodes well for its future.

Inflation concerns may arise if a large number of SUPRA tokens are released into circulation, considering that only about 6% of the total supply is currently available. However, the maximum supply of SUPRA tokens is capped at 100 billion, impacting the token’s scarcity and valuation.

Multiple years may be needed for the fully diluted valuation to be realized, allowing the market to gradually absorb the supply and stabilize the token’s value. This gradual release strategy aims to mitigate inflation concerns and maintain investor confidence.

How Supra Compares to Competitors

As of today, the price of Supra Token stands out against competitors like Ethereum and Chainlink, showing competitive market dynamics. Supra’s integration capabilities, particularly its decentralized oracle technology, enhance its position in the market compared to other tokens. The unique secure smart contracts of Supra provide additional benefits and security, making it a strong contender among blockchain solutions.

Recent adoption metrics show growing interest in Supra Token within the blockchain community, crucial for its long-term viability. This growing interest is a testament to Supra’s robust architecture and innovative features, positioning it as a formidable player in the blockchain space.

Summary

In summary, Supra Token presents a compelling combination of innovative technology, strong market performance, and promising future prospects. From its high-performance network and secure smart contracts to its versatile interoperability features, Supra stands out as a leader in the blockchain ecosystem.

As the market continues to evolve, Supra’s emphasis on security, scalability, and real-world data integration positions it for sustained growth and adoption. Investors and developers alike should keep an eye on Supra Token as it continues to make waves in the crypto world.

Frequently Asked Questions

What is Supra Token (SUPRA)?

Supra Token (SUPRA) is a Layer-1 blockchain ecosystem that enhances interoperability and offers tools for developers to create, deploy, and maintain data applications efficiently.

How does Supra Network ensure high transaction performance?

Supra Network ensures high transaction performance by achieving a capability of 500,000 transactions per second through its globally distributed nodes, positioning it as one of the fastest blockchain platforms. This efficient architecture significantly enhances overall transaction speed and reliability.

What are the current price and trading volume of Supra Token?

The current price of Supra Token is $0.009725, accompanied by a daily trading volume of $17,834,599.

How can I store my SUPRA tokens securely?

To securely store your SUPRA tokens, consider using hardware wallets like Trezor or Ledger, as they keep your private keys offline and offer enhanced security. Alternatively, you can use custodial or self-custody wallets, but ensure you choose reputable options.

What makes Supra Token stand out from its competitors?

Supra Token distinguishes itself with its advanced interoperability features, secure smart contracts, and decentralized oracle technology, which enhance the integration of reliable real-world data and improve decentralized applications' functionality.