Thats exactly why market cap is a bad metric - it does not encode market depth (how much you can actually sell before the price moves) or velocity (how many uni

Thats exactly why market cap is a bad metric - it does not encode market depth (how much you can actually sell before the price moves) or velocity (how many units are changing hands in the wild in a given period). Worst of all, currencies do not have market caps - equities do. Market caps are measured in currencies.