I am late to this question but there is actually a method that really only works for cryptos. Its called realized cap. Multiply the each coin by the price at wh

I am late to this question but there is actually a method that really only works for cryptos. Its called realized cap. Multiply the each coin by the price at which it last moved and sum it all together. This gives a closer estimation of how much money is really in the system. It is not perfect but neither is mcap and this gets a bit closer. https://messari.io/charts/bitcoin/mcap-realized https://messari.io/charts/bitcoin/mcap-realized