I noticed that
http://coinmarketcap.com/currencies/bitconnect suddenly showed a big drop in circulating supply of BCC. During September 2017 and October 2017 it showed 6,667,000 to 6,850,000 BCC but now all of the sudden this number has dropped to 2,138,092. The Total supply of BCC (8,392,580) is very close to the numbers shown in the bitconnect.com site. It may be an accounting issue so I question the meaning of Circulating Supply of BCC?:
- Are BCC coins in a staking wallet considered by the Circulating Supply?
- Are BCC coins in a lending wallet considered by the Circulating Supply?
-Are BCC coins stashed saved in a private wallet or another exchange considered in the Circulating Supply?
In the stock market, there is an outstanding number of shares and a total number of shares. Is the circulating supply considered same an outstanding number of shares?
In any event, the drop in the circulating supply is very big. The smaller the number it means more profit to its shareholders, meaning bitconnect.com may be removing coin circulation or investors are investing less the BCC but not sure as it would be speculation not knowing the meaning of circulating supply of bcc?
Anyone, please share a reply and hopefully from Bitconnect directly would be great. Thanks.
Market Capitalization dropped from $878,243,688 when it had 6,822,900 circulating supply of BCC at $128.72 BB as of 24 Sep 2017 to now $589,963,725 at $275 BCC (=/-)
To me, the most logical explanation for the lesser Circulation Supply is that during the recent price increase of BCC, BCC coin was sold and BTC coin was purchased. Maybe investors wanted to be in BTC and gain from the fork which never happened?
I saw this twitter below. It makes sense some people took profits to BTC due to the fork that never happened. Those BTCs will most likely return as BCC geve them the good return and doubtfully they will not remake elsewhere:
Pluto BTM Network
@plutobtm
Nov 2
More
Those cheesy YouTube commercials killed it.. “I invested 3btc three months ago, now I have 16btc!”🤣
0 replies 0 retweets 2 likes
Reply Retweet Like 2