Token Spotlight: ANGELS
6/18/2024
ANGELS is the utility token of Angel Finance, a passive income project on the Cardano blockchain. Angel Finance aims to become the largest Cardano Native Token ETF in the ecosystem, providing exposure to the best tokens, projects, and technologies within Cardano. The project leverages funds to acquire liquidity, farm yield, trade Cardano Native Tokens (CNTs), participate in Initial Stake Pool Offerings (ISPOs), and engage in traditional market trades. Recently, Angel Finance acquired Levvy Finance, an NFT and token lending platform, further enhancing its portfolio and revenue streams. This article will delve into ANGELS, its tokenomics, liquidity, and more.
ANGELS Distribution & Tokenomics
ANGELS has a maximum supply of 496,000 tokens. Currently, 494.74K of these tokens are circulating, equivalent to 99.7% of the tokens supply. At 8.678 ADA per ANGELS, this gives the token a Market Cap of $1.5 million USD and a Fully Diluted Market Cap of $1.60 million USD, placing it at #50 in the Top 50 tokens on Cardano.
There are currently 694 wallets holding the ANGELS token, an increase of 44.28% in the last 30 days. The token has a Median Holder Balance of 133 ANGELS, equivalent to 1.15K ADA, and an Average Holder Age of 96.41 days, highlighting a strong community that has been supporting the project since launch.
The above image details the Tokenomics of the ANGELS token. 90% of the tokens were allocated to the Initial Token Offering, while 10% went towards creating the initial DEX liquidity. The team had 0% of the token supply allocated as it was a fair launch.
Liquidity
ANGEL has 158.14K ADA in liquidity across two Decentralized Exchanges on the Cardano blockchain. 67.57% of the tokens liquidity is on Minswap, while 32.43% is on Spectrum Finance
Volume
ANGELS has a Lifetime Trading Volume of 3.44 million ADA, equivalent to 753.13k ANGELS tokens. 1.73 million ADA of this was Buy Volume and 1.71 million ADA in Sell Volume. The leading wallet size for buy volume was the Orca wallet size (250k-1M ADA) and the leading wallet size for sell volume was the Fish wallet size (25–100k ADA).
Utility
We’ll now delve into the utility behind the ANGELS token.
Revenue Sharing: Angel Finance distributes monthly revenue from activities such as liquidity provision, yield farming, token trading, and the Levvy Finance lending platform to ANGELS token holders.
Conclusion
Angel Finance’s approach to creating a comprehensive passive income ecosystem on the Cardano blockchain, combined with its acquisition of Levvy Finance, positions it as a significant player in the Cardano space. With a focus on providing exposure to the best tokens and technologies within Cardano, it will be interesting to see how Angel Finance develops over the coming months and years.
You can find out more about Angel Finance at the following link: https://ccardano.gitbook.io/angel-paper
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem. Token info was accurate at the time of writing.
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