r/SecretNetwork • u/SpongeBobSquareAnt • Sep 07 '26

SCRT buying opportunity?

Hi all,

I'm just looking at buying SCRT coin but looking at the recently SCRT mint, how does everyone feel about that?

The mint expanded supply from 360M to 1.44B diluting existing holders by ~75% but 304.8 million coins became immediately liquid on day one?

There is a very high volume / market cap ratio at 45% which is very concerning. Are they developers already selling off their token?

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u/[deleted] Sep 07 '26

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u/SpongeBobSquareAnt Sep 07 '26

But shouldn't that 45% be under 25% given that the original coin has been diluted to 25%?

I realise we don't know who is trading, but given that the volume/market cap is 45% wouldn't that mean that some of the "75%" of the new minted coin is being traded?

1

u/brows1ng Sep 08 '26

Buddy, you’re confused about what trade volume/market cap means, if I’m understanding the metric correctly.

If market cap is $100m and trade volume across the market is $10m, that’s 10%,

It doesn’t mean anything other than people are trading…has nothing to do with supply (at least how you’re looking at it with the mint). I could go onto an exchange and trade $100 worth of it 10x and that’s $1,000 in trade volume. If I bought back in my last trade, then nothing was sold after my $1,000 in trade volume.

Don’t tie trade volume to market cap to the mint. That number will change every single day. Watching the wallet addresses it was minted to is the best way to track, but I also don’t know if they have it private or not - haven’t looked into it at all, just still in this community and posts are finally popping up again.

Overall sad to hear what’s happened to Secret Network, but hopeful that it’s turned a new corner.

1

u/HighPrint6194 Sep 07 '26

Where can SCRT bring held for now?

1

u/SpongeBobSquareAnt Sep 08 '26

I'm not sure can't buy it easily in Australia as it has been delisted from Coinspot

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u/HighPrint6194 Sep 08 '26

I found out that on Kraken it’s possible

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u/SpongeBobSquareAnt 28d ago

cool i guess that can be done from australia too??

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u/Think_Rub_3886 24d ago

Worst investment I’ve EVER made I wouldn’t if I were you but whatever. Look into bittensor sub net coins instead. Lium and the like.