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Market cap is misleading. Example, this week. The market cap of one first 100 coins, as seen at coinmarketcap, grew with $3M because of a trade of $2000. The r
by isthatart 9y ago
Market cap is misleading. Example, this week. The market cap of one first 100 coins, as seen at coinmarketcap, grew with $3M because of a trade of $2000.
The reason is simple. Say 1 coin is valued yesterday at $1, there are 300M coins, so the market cap is $300M. The total coin trade today was such that one instance when somebody bought at $3/coin, for $2000, makes the coin price today to be $1.01 and $0.01 X 300M coins = $3M so called growth in market cap.