Crypto market capitalization now well under $1T

electronicash

legendary

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Quote from: MrDave on June 14, 2022, 01:48:13 AM

Quote from: franky1 on June 13, 2022, 02:44:25 PM

market cap number is MEANINGLESS

anyone can create an altcoin with 10 trillion coins.. sell JUST ONE coin to themselves publicly for $2 and instantly make a $20 trillion market cap

the market cap stat does not represent anything meaningful. so stop looking at it, no one really cares for it. its not even worthy of a topic mention

Woah, I didn't know that it is that much easy. So, how about you? Have you tried ?

that is supposedly how it works. if the token is listed in other exchange and its price in the other exchange is $1. the marketcap will be recalculated and average afaik so the cap will be 1.5T. this is very simplified but you get to have the idea already with just it. BTC is in every exchange.

don't start thinking of creating a new memecoin, the hype is already over. we're done with it.

MrDave

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Quote from: franky1 on June 13, 2022, 02:44:25 PM

market cap number is MEANINGLESS

anyone can create an altcoin with 10 trillion coins.. sell JUST ONE coin to themselves publicly for $2 and instantly make a $20 trillion market cap

the market cap stat does not represent anything meaningful. so stop looking at it, no one really cares for it. its not even worthy of a topic mention

Woah, I didn't know that it is that much easy. So, how about you? Have you tried ?

dothebeats

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Cashback 15%

The number that is considered to be worthles by a lot of people. Market cap is a crude way of measuring how valuable a cryptocurrency is. While it gives you an insight on what's happening to an asset, overall it is nothing but a number to awe people and lure them into buying. The recent sell off is pretty amazing too, considering that it happened in a span of days and not even weeks. Even stocks has the same issue so I guess it is just investors trying to save some cash currently but it could be anything.

nullama

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Market capitalization is a very basic number that tells you nothing about the actual amount of money invested in an asset. It just moves along the current price.

For something truly staggering, look at how the IMF literally created 650 billion USD out of thin air:

Quote from: https://www.imf.org/en/News/Articles/2021/08/23/pr21248-imf-managing-director-announces-the-us-650-billion-sdr-allocation-comes-into-effect

IMF Managing Director Announces the US$650 billion SDR Allocation Comes into Effect

That's actually that amount of money created, not like the Bitcoin market cap, which only considers the latest price, and the number of units. In reality, there's way less USD invested in Bitcoin that the current Market Cap.

fenican

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Quote from: franky1 on June 13, 2022, 02:44:25 PM

market cap number is MEANINGLESS

anyone can create an altcoin with 10 trillion coins.. sell JUST ONE coin to themselves publicly for $2 and instantly make a $20 trillion market cap

the market cap stat does not represent anything meaningful. so stop looking at it, no one really cares for it. its not even worthy of a topic mention

The aggregate market cap is for coins traded on major exchanges. Yes it can be skewed a bit by pumps on obscure alt-coins but overall it is fairly reliable. BTC and ETH combined have been the lion's share. The bottom few thousand coins really don't amount to shit.

jackg

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https://bit.ly/387FXHi lightning theory

The same looks to be true for a lot of stocks now though too at a similar time to bitcoin (and most assets except some fiat and food).

Market cap is fairly meaningless on a scope of determining interest in assets though (unless you're expecting people not to hold them - I don't think many in the community participate in selling crashes and buying the ups at the exact times they happen/are at their worst especially if they've been here a while).

franky1

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market cap number is MEANINGLESS

anyone can create an altcoin with 10 trillion coins.. sell JUST ONE coin to themselves publicly for $2 and instantly make a $20 trillion market cap

the market cap stat does not represent anything meaningful. so stop looking at it, no one really cares for it. its not even worthy of a topic mention

_act_

legendary

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Lightning network is good with small amount of BTC

Do not be surprised if you see even only bitcoin marketcap at $5 trillion before the next 10 years. This bear market is expected and not new as it has happened before like in 2018, but the end result would still be bull market that will later skyrocket bitcoin again to all-time-high. Just be patient for you to see this to become reality.

fenican

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Staggering when one considers it looked to be on a sprint to $5T just a short time ago. A rather epic collapse.

Topic: Crypto market capitalization now well under $1T (Read 169 times)