What is SMC?

Answered at Sep 18, 2024

What is SMC?

SMC, or Smart Money Coin, is a cryptocurrency that has gained attention in the digital asset space. This report will provide a comprehensive overview of SMC, its features, and its role in the cryptocurrency market.

Overview of Smart Money Coin (SMC)

Smart Money Coin is a digital asset based on the Binance Smart Chain (BEP20) protocol. It was designed to serve multiple functions within the cryptocurrency ecosystem, with a particular focus on real-world applications and decentralized finance (DeFi) services.

Key Features and Use Cases

  1. Payment System: SMC's primary function is to act as a mode of payment in various sectors, including:

    • Real Estate
    • Land transactions
    • Travel Agency services
    • E-commerce, particularly within the SMC FRESH PLUS Company based in Thailand

  2. Decentralized Exchange: The SMC ecosystem aims to provide a decentralized exchange similar to PancakeSwap, supporting major currencies on the Binance Smart Chain.

  3. Staking and Yield Farming: SMC offers staking opportunities and yield farming capabilities, allowing users to earn passive income and potentially list other currencies within its ecosystem.

  4. NFT Marketplace: An NFT (Non-Fungible Token) marketplace is under development, which will expand SMC's utility in the digital collectibles space.

  5. Gaming Integration: Plans are in place to create NFT games that will utilize SMC as a reward token, further increasing its utility and potential adoption.

Market Performance and Statistics

As of September 18, 2024, Smart Money Coin's market performance and key statistics are as follows:

  • Current Price: $0.0₁₀744723
  • Market Rank: #10147 by market capitalization
  • Circulating Supply: 500.00M SMC
  • Maximum Supply: 500.00M SMC

It's important to note that SMC has experienced significant price volatility:

  • All-Time High: $0.011386 (reached on July 1, 2022)
  • All-Time Low: $0.0₁₁831071 (recorded on May 22, 2024)

Trading and Investment Considerations

Smart Money Coin is traded on various cryptocurrency exchanges, allowing investors and traders to buy, sell, and trade the asset. However, like all cryptocurrencies, SMC comes with inherent risks and volatility:

  1. High Risk: The cryptocurrency market is known for its extreme price fluctuations, and SMC is no exception. Investors should be prepared for potential significant losses.

  2. Limited Track Record: As a relatively new cryptocurrency, SMC has a limited historical performance record, making it challenging to predict future trends accurately.

  3. Market Sentiment: The current market sentiment for SMC is described as bearish, with the Fear & Greed Index showing a value of 45, indicating "Fear" in the market.

  4. Performance Metrics:

    • SMC has shown a 0.290000% price increase in the last 24 hours.
    • Over the past month, it has increased by 0.24% in USD value.
    • Compared to Ethereum, SMC is up 12.83% in the last month.
    • Against Bitcoin, SMC is down -1.92% over the same period.

  5. Historical Performance: It's worth noting that SMC experienced significant losses in previous years:

    • In 2022, SMC's price dropped by -99.99%
    • In 2023, it further declined by -99.99%

Conclusion

Smart Money Coin (SMC) represents an ambitious project in the cryptocurrency space, aiming to bridge the gap between digital assets and real-world applications. Its multi-faceted approach, including payment systems, DeFi services, and gaming integration, showcases its potential for diverse use cases.

However, investors and users should approach SMC with caution. The cryptocurrency's volatile price history and current market sentiment indicate significant risks. As with any cryptocurrency investment, thorough research, risk assessment, and careful consideration of one's financial situation are essential before engaging with SMC.

The future of SMC will likely depend on its ability to deliver on its promised features, particularly its NFT marketplace and gaming integrations, as well as its success in establishing itself as a reliable payment method in its target sectors. As the cryptocurrency market continues to evolve, SMC's position and value proposition may change, requiring ongoing attention from interested parties.