Global cryptocurrency “market cap” exceeds “US” currency in circulation

aritmo wrote: post #3

"market cap" assumes infinite demand for your currency, and that all your currency will sold at the current value. Kinda not happening.

same for the "US" dollar?

Re: Global cryptocurrency “market cap” exceeds “US” currency in circulation

#5

Post by salawat » Mon, May 03, 2021, 6:55 PM UTC

I see the war on cash and untraceable financial activity is getting along according to plan.

Re: Global cryptocurrency “market cap” exceeds “US” currency in circulation

#6

Post by BitwiseFool » Mon, May 03, 2021, 7:04 PM UTC

For Posterity: This is the market data taken from CoinGecko at the time of posting.

Coins: 7003

Exchanges: 459

Market Cap: $2,395,873,664,914

24h Vol: $221,081,504,173

Dominance: BTC 45.1% ETH 16.0% ETH Gas : 122 gwei

TLDR:

Dollars: $2,154,870,000,000

Crypto: $2,395,873,664,914

Re: Global cryptocurrency “market cap” exceeds “US” currency in circulation

#7

Post by Black101 » Mon, May 03, 2021, 7:29 PM UTC

aritmo wrote: post #3

"market cap" assumes infinite demand for your currency, and that all your currency will sold at the current value. Kinda not happening.

> "market cap" assumes infinite demand for your currency

no... infinite demand would make market cap infinite also...

Re: Global cryptocurrency “market cap” exceeds “US” currency in circulation

#8

Post by swader999 » Mon, May 03, 2021, 7:30 PM UTC

Market cap is a strange way to frame crypto. Would you ever talk about market cap of USD or the pound? Transaction volume, unique addresses, stock to flow are more useful.

Re: Global cryptocurrency “market cap” exceeds “US” currency in circulation

#9

Post by mikeyouse » Mon, May 03, 2021, 7:31 PM UTC

"Market cap" is a completely meaningless phrase in the crypto space. One of my least favorite things about crpyto in general is their frequent adoption of words and phrases that have actual meaning in traditional finance and then repurposing them for vaguely similar purposes to imply parity.

Re: Global cryptocurrency “market cap” exceeds “US” currency in circulation

#10

Post by ISL » Mon, May 03, 2021, 7:31 PM UTC

wutXthree wrote: post #4

aritmo wrote: post #3

"market cap" assumes infinite demand for your currency, and that all your currency will sold at the current value. Kinda not happening.

same for the "US" dollar?

Nope -- if we're comparing market-caps as priced in dollars, the USD market-cap will always be the number of dollars in circulation.

If we're comparing market-caps in gold bars or cheeseburgers, it is a different story.