Nomi: Crypto Market Caps - Prezzi, Highs All-Time, Charts

  • 2021-12-31Data di raccolta
  • 2022-02-15Aggiornato
Nomi: Crypto Market Caps - Prezzi, Highs All-Time, Charts
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829.54M$5.3723-1.68%62IOTA(MIOTA)IOT$825.16M$0.-2.66%63CompoundEtherCETH$813.88M$24.79-0.66%64BitTorrentV2BTT$813.49M$0.28-1.17%65EscoinTokenELG$811.34M$3.40930.04%66eCashXEC$795.88M$0.-2.03%67CompoundUSDCoinCUSDC$795.76M$0.0.08%68NeutrinoUSD-N$778.98M$0.-0.93%69FantomFTM$737.98M$0.-5.26%70KlaytnKLAY$730.71M$0.-2.39%71NEONEO$697.92M$9.8954-1.00%72TIME(Wonderland)TIME$694.56M$34.37-5.00%73ZilliqaZIL$684.70M$0.-3.44%74THORChainRUNE$664.39M$2.2091-6.35%75StacksSTX$657.81M$0.17.43%76GatechainTokenGT$648.64M$4.3675-0.31%77SynthetixNetworkTokenSNX$626.89M$2.7757-5.07%78WesWES$619.25M$6.1925-2.19%79BasicAttentionTokenBAT$614.95M$0.-2.77%80PAXGoldPAXGBuy$613.66M$1,841.390.54%81CompoundDaiCDAI$598.43M$0.0.02%82HuobiBTC(ERC-20)HBTC$577.84M$21,432.80-1.29%83ChilizCHZ$566.31M$0.1.94%84EnjinCoinENJ$559.94M$0.1.14%85DashDASH$553.35M$51.28-1.94%86DeFiChainDFI$551.76M$1.0180-1.14%87STEPNGovernanceTokenGMT$532.82M$0.-4.44%88LoopringLRC$529.91M$0.-3.65%89ArweeAR$515.43M$10.29-3.36%90PancakeSwapCAKE$511.72M$3.4304-0.28%91TerraLunaClassicLUNC$507.53M$0.31.47%92KusamaKSM$499.67M$55.64-2.94%93TitanSwapTITAN$481.14M$4.8114-3.99%94GalaGALA$480.30M$0.-5.75%95CompoundUSDTCUSDTBuy$474.82M$0.-0.57%96TetherGoldXAUT$454.80M$1,844.84-0.43%97AMPTokenAMP$451.22M$0.-0.78%98KaKA$432.52M$2.00001.42%99CeloCELO$429.04M$0.-4.37%100CurveDAOTokenCRV$422.12M$0.-5.54%FirstPrev1234...137NextLast#NamePricePrice1DChange7DPredictionMCapMarketCapVolumeTransparentVol.CirculatingSupply1DChartCSVData1BitcoinBTCBuy$21,474.09-0.06%Unlock$409.69B$34.89B58%19,078,337BuyData2EthereumETHBuy$1,235.57-1.03%—$149.90B$18.75B46%121,319,792BuyData3TetherUSDTBuy$1.00030.02%—$66.89B$73.23B35%66,867,260,244BuyDataGetTheLatestCryptoPrices&NewsDeliveredStraightToYourInboxLearnMore→4USDCoinUSDC$1.0016-0.02%—$55.92B$3.57B35%55,826,806,178BuyData5BinanceCoinBNB$240.55-0.12%—$39.28B$1.24B46%163,276,975BuyData6XRPXRP$0.-0.77%—$17.61B$1.16B31%48,343,101,197BuyData71BinanceUSDBUSD$1.0014-0.03%—$17.41B$6.55B90%17,389,381,290BuyData81CardanoADA$0.-2.37%—$17.13B$860.45M33%33,820,262,544BuyData9SolanaSOLBuy$40.91-0.60%—$14.02B$2.62B44%342,768,476BuyData10DogecoinDOGEBuy$0.8.84%—$10.41B$1.36B37%132,670,764,300BuyData11PolkadotDOT$8.1747-0.85%—$9.20B$461.34M38%1,125,798,471BuyData123TRONTRXBuy$0.7.74%—$6.48B$1.02B24%92,498,811,167BuyData13ShibaInuSHIBBuy$0.-2.35%—$6.45B$712.22M36%557,550,498,482,343BuyData14DaiDAIBuy$1.00160.01%—$6.32B$236.99M62%6,311,763,690BuyData153HEXHEX$0.-10.52%—$6.16B$13.24M94%135,663,900,380BuyData16alancheAXBuy$21.260.57%—$5.99B$633.71M56%281,905,436BuyData17WrappedBitcoinWBTCBuy$21,454.320.11%—$5.68B$266.59M72%264,929BuyData18UNUSSEDLEOLEO$5.8732-0.94%—$5.49B$2.74M88%935,224,364BuyData191LiquidStakedEtherSTETH$1,193.99-0.33%—$5.05B$35.16M91%4,231,808BuyData201FTXTokenFTT$28.03-1.37%—$5.04B$110.40M74%179,640,788BuyData21PolygonMATICBuy$0.-2.98%—$4.75B$813.32M45%8,001,489,375BuyData22LitecoinLTCBuy$58.02-1.37%—$4.10B$554.19M28%70,594,208BuyData231OKExUtilityTokenOKB$12.71-2.45%—$3.26B$6.77M18%256,388,091BuyData241ChainLinkLINKBuy$6.9290-3.77%—$3.24B$572.00M30%467,009,550BuyData25CronosCRO$0.-1.54%—$3.23B$58.57M26%25,263,013,692BuyData26StellarXLM$0.-1.75%—$3.10B$217.16M13%25,026,077,684BuyData27NearProtocolNEARBuy$3.9702-6.39%—$2.87B$828.04M20%722,062,157BuyData28Nomi: Crypto Market Caps - Prezzi, Highs All-Time, ChartsUniswapProtocolTokenUNIBuy$5.86274.77%—$2.73B$254.46M37%465,022,325BuyData29AlgorandALGOBuy$0.-1.73%—$2.50B$255.90M14%7,272,675,958BuyData30CosmosATOM$8.55190.86%—$2.50B$398.19M30%292,586,164BuyData312EthereumClassicETC$17.354.84%—$2.35B$361.99M20%135,490,714BuyData321MoneroXMR$128.74-1.68%—$2.34B$117.18M24%18,140,104BuyData331BitcoinCashBCHBuy$116.63-0.90%—$2.23B$665.52M14%19,101,831BuyData34VeChainThorVET$0.-2.88%—$1.84B$362.16M18%72,511,146,418BuyData35FlowFLOW$1.7434-0.72%—$1.81B$77.34M63%1,036,200,000BuyData36TheSandboxSAND$1.2547-3.69%—$1.58B$1.10B59%1,258,626,081BuyData37HederaHashgraphHBAR$0.0714-3.08%—$1.52B$76.94M41%21,252,184,397BuyData381DecentralandMANA$0.-2.64%—$1.49B$445.78M50%1,501,356,478BuyData391ApeCoinAPE$4.8853-5.39%—$1.46B$668.70M34%299,531,250BuyData40DfinityICP$6.0177-2.83%—$1.45B$139.08M44%241,741,662BuyData41ThetaTokenTHETA$1.4077-4.10%—$1.41B$130.48M26%1,000,000,000BuyData42FraxFRAX$1.0007-0.14%—$1.40B$15.56M97%1,396,914,189BuyData433TezosXTZ$1.5347-0.61%—$1.37B$85.86M49%891,845,778BuyData441FilecoinFIL$6.0552-3.08%—$1.36B$174.13M44%224,302,947BuyData451HeliumHNT$11.12-2.57%—$1.36B$29.12M38%122,115,206BuyData461ElrondEGLD$58.05-5.30%—$1.31B$72.62M45%22,569,822BuyData471TrueUSDTUSD$1.0019-0.07%—$1.20B$47.06M22%1,198,115,966BuyData481AxieInfinityAXS$16.69-4.98%—$1.19B$400.61M66%71,046,952BuyData49BitcoinSVBSV$61.96-2.99%—$1.18B$46.49M25%19,084,883BuyData504CryptoInternationalCRI$0.11.62%—$1.09B$608,9640%1,965,372,395BuyData51KuCoinTokenKCS$10.93-0.64%—$1.07B$3.20M17%97,898,695BuyData5221inch1INCH$0.-5.62%—$1.06B$104.49M46%1,471,811,644BuyData531EOSEOS$1.02180.27%—$1.02B$230.15M26%999,281,941BuyData541MakerMKR$1,056.73-1.01%—$952.44M$139.60M15%901,311BuyData552AeAEBuy$67.45-5.15%—$937.48M$183.14M40%13,899,619BuyData561PaxDollarUSDP$1.0012-0.52%—$873.19M$179.80M2%872,183,366BuyData571ZcashZEC$66.70-2.68%—$839.63M$128.41M17%12,587,678BuyData584QuantQNT$62.440.65%—$837.63M$30.82M21%13,413,953BuyData593TheGraphGRTBuy$0.-7.06%—$836.01M$120.82M52%7,400,273,157BuyData601ECOMIOMI$0.-2.90%—$833.84M$952,2118%581,910,045,187BuyData61HuobiTokenHT$5.3723-1.68%—$829.54M$20.98M10%154,409,022BuyData622IOTA(MIOTA)IOT$0.-2.66%—$825.16M$16.81M39%2,779,530,283BuyData63CompoundEtherCETH$24.79-0.66%—$813.88M$6.10M<1%32,829,176BuyData64BitTorrentV2BTT$0.28-1.17%—$813.49M$91.17M10%932,028,892,857,000BuyData652EscoinTokenELG$3.40930.04%—$811.34M$1.36M0%237,976,494BuyData66eCashXEC$0.-2.03%—$795.88M$9.98M26%19,098,742,173,303BuyData672CompoundUSDCoinCUSDC$0.0.08%—$795.76M$13.16M0%35,126,099,253BuyData68NeutrinoUSD-N$0.-0.93%—$778.98M$561,4290%788,657,732BuyData69FantomFTM$0.-5.26%—$737.98M$608.48M63%2,541,152,731BuyData70KlaytnKLAY$0.-2.39%—$730.71M$24.15M41%2,911,891,864BuyData713NEONEO$9.8954-1.00%—$697.92M$63.16M19%70,530,000BuyData721TIME(Wonderland)TIME$34.37-5.00%—$694.56M$305,34294%20,209,661BuyData73ZilliqaZIL$0.-3.44%—$684.70M$561.52M8%14,509,991,419BuyData742THORChainRUNE$2.2091-6.35%—$664.39M$272.36M77%300,755,175BuyData758StacksSTX$0.17.43%—$657.81M$136.31M15%1,320,504,213BuyData76GatechainTokenGT$4.3675-0.31%—$648.64M$2.85M88%148,515,369BuyData772SynthetixNetworkTokenSNX$2.7757-5.07%—$626.89M$81.32M22%225,853,236BuyData781WesWES$6.1925-2.19%—$619.25M$420.11M25%100,000,000BuyData791BasicAttentionTokenBAT$0.-2.77%—$614.95M$68.90M16%1,497,691,558BuyData80PAXGoldPAXGBuy$1,841.390.54%—$613.66M$28.35M35%333,258BuyData812CompoundDaiCDAI$0.0.02%—$598.43M$13.71M<1%27,122,530,624BuyData821HuobiBTC(ERC-20)HBTC$21,432.80-1.29%—$577.84M$184100%26,960BuyData833ChilizCHZ$0.1.94%—$566.31M$127.93M25%5,344,064,580BuyData843EnjinCoinENJ$0.1.14%—$559.94M$160.25M21%934,340,660BuyData853DashDASH$51.28-1.94%—$553.35M$108.97M10%10,789,813BuyData861DeFiChainDFI$1.0180-1.14%—$551.76M$5.23M0%542,003,425BuyData873STEPNGovernanceTokenGMT$0.-4.44%—$532.82M$1.11B36%542,655,704BuyData88LoopringLRC$0.-3.65%—$529.91M$96.67M21%1,245,991,469BuyData89ArweeAR$10.29-3.36%—$515.43M$22.27M42%50,108,502BuyData90PancakeSwapCAKE$3.4304-0.28%—$511.72M$77.70M34%149,173,419BuyData9115TerraLunaClassicLUNC$0.31.47%—$507.53M$179.42M66%6,536,407,736,540BuyData921KusamaKSM$55.64-2.94%—$499.67M$34.17M22%8,980,098BuyData93TitanSwapTITAN$4.8114-3.99%—$481.14M$6.22M<1%100,000,000BuyData942GalaGALA$0.-5.75%—$480.30M$827.95M28%7,542,496,572BuyData951CompoundUSDTCUSDTBuy$0.-0.57%—$474.82M$10.25M<1%21,691,221,853BuyData961TetherGoldXAUT$1,844.84-0.43%—$454.80M$2.21M62%246,524BuyData971AMPTokenAMP$0.-0.78%—$451.22M$4.28M52%48,013,928,909BuyData982KaKA$2.00001.42%—$432.52M$82.38M18%216,257,170BuyData992CeloCELO$0.-4.37%—$429.04M$49.99M28%439,191,694BuyData1002CurveDAOTokenCRV$0.-5.54%—$422.12M$144.71M33%537,109,531BuyDataFirstPrev1234...137NextLastAdvertiseHereAdvertiseHereFrequentlyAskedQuestionsWhatiscryptomarketcap?Marketcapitalizationisoneofthemostpopularmetricsinfinance.Itwasfirstintroducedinthestockmarketandhasbeenadaptedtothecryptoworldwhereitisusedtovaluecryptocurrencies.Cryptomarketcaphasitssupportersanditscritics.Supportersviewmarketcapasasimple,albeitincompletewaytorankcryptoassetprojects.Criticsinsistthatmarketcapisnotameasureofvaluebutacrudeexpressionofthepriceinvestorsarewillingtopay.Bothsidesmakevalidpoints.Cryptomarketcapiscalculatedbymultiplyingthecirculatingsupplyofacoinbyitscurrentprice.Forexample,ifadigitalcurrencyhas1,000tokensincirculation,andeachtokentradesat$100,themarketcapitalizationoftheprojectis$100,000.Aswithstocks,cryptocurrenciesareclassifiedintermsofmarketcap.Large-capcryptocurrencieshemarketcapsinexcessof$10billion,mid-capcryptocurrenciesrangebetween$1billionand$10billion,andsmall-capcryptocurrenciesareworthlessthan$1billion.Intheworldofstocks,thehigherthemarketcap,thesafertheinvestment.Intheworldofcryptocurrencies,ahighmarketcapislessmeaningful.Ifthemarketcapofacryptoassetishigh,itmeansthatittradesatahighprice,hasahighcirculatingsupply,orboth.Ifthemarketcapislow,itsignalsthatthepricepNomi: Crypto Market Caps - Prezzi, Highs All-Time, Chartsercoinislow,thereislittlecirculation,orboth.Thisisallthatmarketcapcanrevealaboutacryptocurrency.Nothingmore.Itcan’texpresswhethertokensareheldbyanetworkofsmallinvestorsorahandfulofwhales,itdoesn’tspeaktoliquidity,anditissilentonmaxsupply.Cryptomarketcapisasourceofcontroversy.Therearethosewhoclaimthatmarketcapreflectstheamountoffiatcurrencyinvestedinacryptoasset.Thisiswrong.Consideraninfluxofnewinvestorstoaprojectwithlowtradingvolume.Duetothemarket’slackofdepth,thesuddeninterestdramaticallydrivesupprices.Let’ssaythatthetokengoesup50%,fromamillion-dollarmarketcapto$1.5million.Doesthatmeanthattheinvestorspumpedin$500,000?Absolutelynot.Thenewmarketcapmerelyreflectsthepricethatthelastinvestorwaswillingtopay.Anotherexample:takeanewcryptocurrencywithacirculatingsupplyof100,000.Itgoeslive,andthefirstinvestorbuysatokenfor$5.Oncethattradeisexecuted,theprojectwillheamarketcapitalizationof$500,000.Yetonly\$5changedhands.Allthatsaid,whenconsideredwithotherindicators,cryptomarketcapcanbeuseful.It’squitecommontolookatmarketcapalongsidemetricsliketradingvolumeandliquidity.Tradingvolumereferstothenumberofcoinsbeingtradedacrosstheworld’scryptocurrencyexchanges.Liquiditymeasuresthedegreetowhichanassetcanbeboughtorsoldwithoutcausingamajorpricechange.Inmostcases,highvolumeandhighliquiditymeanahealthymarketthatisdifficulttomanipulate.Indeed,aclassicwaytomeasurethequalityofacryptocurrencyistocheckwhetheritstradingvolumeisequaltoorgreaterthanitsmarketcap.Cryptomarketcaphasmajordrawbacks,yetitremainsthego-toindicatorformanyinvestors,analysts,andcommentators.Thisisunfortunate.Atbest,marketcapcanserveasajumping-offpointforevaluatingacryptocurrency.Butitisonlytrulyhelpfulwhenusedintandemwithothermetricsliketradingvolume.Whydoescryptomarketcapmatter?Althoughmarketcapis,atbest,anincompleteindicatorofcryptoassetquality(moreonthathere),insomecases,itcanbeausefulstartingpointforanalyzinganinvestmentopportunity.Marketcaprevealsabitaboutacoin’scharacteristics.Forexample,highmarketcapcouldindicatethatacryptocurrencyisresistanttovolatility.Lowmarketcapindicatestheopposite,thatmajornewseventsorwhaleactivitycansignificantlyimpactprice.However,cryptomarketcapcanonlytakeyousofar.Togetastrongreadonvolatility,you’dhetocombinemarketcapwithothermetricslikemarketdepthortransactionvolume.Traditionally,stocksareanalyzedwithmetricssuchasprice-to-earnings(P/E)andearnings-per-share(EPS).Cryptoprojectsdon’tpublishfinancialstatements,butthereisstillaneedforcomparison.Overtime,thesimplicityofmarketcaphasmadeitthemostpopularwaytocomparecryptoassets.Forthisreasonalone,cryptomarketcapmatters.It’simportantbecausecryptoinvestors,exchanges,gregators,andprojectownersthinkit’simportant.Experiencedinvestorswillusuallyconsidermultipleindicators,buttherearesomewhobasetheirdecisionsexclusivelyonmarketcap.Cryptoexchangesusemarketcapasawaytodeterminewhichcoinstolist–coinswithhighercapsaremorelikelytomakeit.Exchangedatagregatorstendtorankprojectsbymarketcap.Thehigheranasset’smarketcap,themoreprominentlyitwillbefeaturedonthesite.Projectownerstakemarketcapseriouslyenoughtospendtimeandmoneymanipulatingthecirculatingsupplyorpriceoftheirtokens.Thisisjustonereasonwhycryptomarketcapisconsideredamisleadingorunreliableindicator.Tosummarize,cryptomarketcapmattersbecauseit’seasytounderstandandadecentstartingpointforanalyzingacryptoasset.It’salsoimportantbecausesomanyplayersconsiderittobeimportant.Asthecryptospacematures,bettertoolswillbedevelopedthatwillprovidemarketparticipantswithin-depth,actionableinformation.Whenthathappens,marketcapwilllikelyloseitsplaceastheleadingcryptoindicator.Whatisthecryptomarketcapall-timehigh?Asofthiswriting,theglobalcryptomarketcapall-timehighis$813.9billion($813,871,000,000USD).ThemarketreachedthislevelonJanuary7,2018.HowcanIcalculateacryptocurrency’smarketcap?Cryptomarketcapiscalculatedthesamewayasstockmarketcap,bymultiplyingthecirculatingsupplyofanassetbyitspriceinfiatcurrency(e.g.USD,EUR,JPY).Thecalculationgetstrickierwhenanassetistradedainstanotherasset.Inacryptopair–let’ssayEthereum/BitcoinorETH/BTC–togetthepriceofETH,wewouldfirstdenominateBTCinfiat.Inordertounderstandmarketcap,it’simportanttoconsideritsconstituentparts–priceandcirculatingsupply.Pricedependsonwhomakesthecalculation.Thegeneralpriceiscalculatedasacompositeofspotpricesusedoncryptoexchanges.Forindexfunds,whichherecentlybecomepopular,thecalculationisadjustedtoincludevariationintradingpairprices.Thepricethatyouseeononlinenewsgregators(Google,forexample)isusuallytheerepriceatwhichanassettradesonleadingexchanges.Inthecryptospace,theproblemofinadequatepricingiswell-known.Mostpricingindexissuersfailtodetailhowtheypriceinstrumentsorwheretheygettheirdata.AtNomics,westrivetosetthisright.Ourmethodologytakesthepriceatwhichaninstrumentlasttradedoneachexchange,weightedbythegeneraltradingvolumeoverthepast24hours.Moreonourmethodologyhere.Whenitcomestosupply,itisworthnotingthatthecalculationdependsentirelyonthetokenandthemechanicsofitsprotocol.AlthoughBitcoinhasafinitesupply(21million),mosttokensaredesignedwithadynamicsupplythatincreasesovertime.Whencalculatingthemarketcapofaparticularcryptoasset,itisthecirculatingsupplythatshouldbetakenintoaccount.Circulatingsupplyisthenumberoftokensthatarecurrentlyailableonthemarket.Circulatingsupplyisabettermetricthantotalsupplybecauseitexcludescoinsthatarereservedorlocked.WhatisBitcoin’smarketcap?Bitcoin(BTC)istheworld’sleadingcryptocurrencybymarketcap.Intermsofmarketcap,Bitcoinhasreachedheightsofover$300billion.Mostofthetime,Bitcoin’smarketcapaccountsfor30%to60%oftheentirecryptocurrencymarketcap.TofindBitcoinx27;smarketcap,locatethevalueinthe"marketcap"columnassociatedwiththeBitcoinrecordinthetableabove.Aswithothercryptoassets,Bitcoin’smarketcapisdeterminedbymultiplyingitscirculatingsupplybyitscurrentprice.Itisworthnotingthat,duetothefinitesupplyofBitcoin,atsomepoint,circulatingsupplyandtotalsupplywillbeequal.Atthattime,Bitcoin’smarketcapwillheonlyonedynamicdeterminant,theprice.Bitcoin’scurrentcirculatingsupplyhasalreadyreached85%ofthemaximumsupply,whichisfixedat21million.HowcanIfindlowmarketcapcryptocurrencies?Someinvestorsviewlowmarketcapassynonymouswithhighprofitpotential.Similartopennystocks(stockspricedbelow\$1),low-capcryptocurrenciesareoftenconsideredtobeundervalued.Thatiswhymanymarketparticipantsforcryptocurrencieswithlowmarketcaps.Theybelievethesecurrencieshemoreroomforpriceappreciation.Othersviewlowmarketcapcryptocurrenciesasground-flooropportunities.Whateverthereasoning,lowmarketcapcryptocurrenciesarepopularinvestments.Here’showtofindlowmarketcapcryptocurrenciesontheNomicsplatform:NigatetoNomics.com.Sortcryptocurrenciesbymarketcap.Movebeyondpe1toexplorelowmarketcapcryptocurrencies.Nomicslistscryptocurrencieswithmarketcapsaslowasafewthousanddollars.However,youshouldoidchoosinganinvestmentbymarketcapalone.Consideradditionalfactorssuchasrecentpricechanges,tradingvolume,circulatingsupply,andtransparentvolume,afeatureuniquetoNomicsthatshowsthepercenteoftradingvolumethatoccursonreputablecryptocurrencyexchanges.Formoreontransparencyvolume,seehere.Howismarketcapcalculatedforstocks,andhowdoesthisdifferfromcryptomarketcapcalculations?Marketcapitalizationisoftenusedtoindicatethevalueofacompanyorstock.Itiscalculatedbymultiplyingthetotalnumberofsharesoutstandingbythepricepershare.Investorscalculatethevalueofacryptocurrencybymultiplyingitscirculatingsupplybyitscurrentprice.Thoughstockandcryptoinvestorsusethesameindicator,thecalculationdiffersinsomerespects.StockmarketcapcalculationTocalculatethemarketcapofacompany,multiplysharesoutstandingbythecurrentpricepershare.Let’stakeaminutetoexaminebothcomponentsoftheequation.Sharesoutstandingreflectsallstocksthatarecurrentlyheldbyshareholders.Itevenincludesrestrictedshares(heldbycorporatestaff)andshareblocks(heldbyinstitutionalinvestors).Price,ontheotherhand,isaffectedbyinternalfactorssuchasprofit,expectedprofit,andplansforgrowth.Howinvestorsperceivethesefactorsinfluencessupplyanddemandanddeterminesthepriceofastock.CryptomarketcapcalculationTofindthemarketcapofacryptocurrency,multiplycirculatingsupplybycurrentprice.Circulatingsupplyissimilartosharesoutstandingbutonlyincludestokensthatareailableinthemarket.Itexcludescoinsthatarereservedorlocked.Thepriceofacryptocurrencyisusuallycalculatedasanereofthespotpriceatwhichtheinstrumenttradesonleadingexchanges.Cryptocurrencypricinginthecontextofindexfundshappensinaslightlymoresophisticatedwayandisadjustedtoincludevariationintradingpairprices.ThedifferencesAlthoughmarketcapisusedtovaluebothcompaniesandcryptocurrencies,therearedifferencesinthewayitisapplied.Forinstance,sharesoutstandingtakesintoaccountallissuedshares,includingthoseheldbycorporateofficersandbiginvestors.Circulatingsupplyignoresreservedorlockedcoins.Asaresult,cryptomarketcaponlyincludesassetsthatareailablefortrading.Ifcryptomarketcapfollowedthesamelogicasstockmarketcap,itwouldbebasedontotalsupply.Afarmoreaccuratecalculationisachievedbyusingcirculatingsupply.Formoreontheconsofusingtotalsupply,seethenextquestionbelow.Anotherdifferenceispricingmechanics.Whilemoststockshefixedissuancemechanisms,inthecaseofcryptocurrencies,manyprotocolsaredesignedtoexpandcontinuously,thusinflatingtokensupplyovertime.Ingeneral,cryptomarketcapisn’tconsideredtobeasaccurateasstockmarketcap.Oneofthereasonsisthat,unlikethestockmarket,whereahighmarketcapindicatesasafeinvestment,intheworldofcryptocurrencies,highmarketcapdoesn’tnecessarilymeanthataninvestmentissecure.Anotherreasonisthefactthatcryptocurrencycomeswithcertainrisksthatdon’texistwithstocks.Tocompensate,onemustanalyzemarketcapinabroadercontext.Whataresomeproblemswithhowcryptomarketcapiscalculated,andwhatalternativesexist?Theoldest“modern”securitiesmarketintheworldistheAmsterdamStockExchange,whichwasfoundedin1602bytheDutchEastIndiaCompany.Thefirstcryptocurrency,Bitcoin,waslaunchedin2009.Thisgoestoshowhowyoungthecryptocurrencymarketiscomparedtothestockmarket,whichhashadcenturiestomature.Weoftenmakethemistakeofcopyingstockmarketmetricsandtryingtoshoehornthemintotheworldofcryptocurrencies.Soisthecasewithmarketcapitalization.Marketcapisappliedtobothstocksandcryptocurrencies,buttherearedifferencesinhowthemetricworksineachcase.Intheworldofstocks,marketcapcanrevealmuchaboutacompanyincludingcorporatepolicies(forexample,theissuanceorrepurchaseofshares),manementstyle,andoperationalscale.Itisoftenusedforitssimplicityandrelativeeffectivenessatassessingthequalityofastock.Whenitcomestocryptocurrencies,however,marketcapisnotausefulbasisformakinganinvestmentdecision.Infact,manyresearchersdescribecryptomarketcapasadeceivingindicatorthatisusedonlybecauseitissimple.Despiteallthat,marketcapcontinuestobeusedasaleadingindicatorofcryptoassetquality–evenbyexperiencedinvestors.Thisisamistake.ThepitfallsofcryptomarketcapStocksandtokensheverydifferentcharacteristics.Stocksrepresentownershipofacompanythatcreateseconomicandsocialvalue.Dependingonthetypeofstock,ownershipcanprovideashareholderwiththerighttoreceivedividends,vote,andparticipateinproceduresaimedatraisingliquidity.Tokensrepresentparticipationinanetworkthatmayormaynotgeneratevalue.TokensdonotguaranteeclaimsonprofitsorparticipationinsalesorICOs.Atoken’spriceisbasednotonreal-worldfactorsthatinfluencesupplyanddemandbutonspeculationaboutaproject’spotential.Thetruthis,whiledigitaltokensareanexcitingassetclass,theyarefundamentallydifferentthanstocks,andusingthesameindicatortoanalyzethemcanresultinfalseorunrepresentativeconclusions.Anotherproblemwithcryptomarketcapistokeninflation.Withstocks,thetotalsupplyisfixedandcanrarelybechanged.Theonlywaytochangeitisviaastocksplit.Whenitcomestotokens,however,anemissionschedulecanguaranteeaninstrument’scontinualinflation.Theincreaseincirculatingsupplythattakesplaceovertimeleadstoahighermarketcap.Butahighermarketcapdoesn’tnecessarilymeanthataprojectisdoingwell.Itcouldjustmeanthattherearemoretokensincirculation.Andvice-versa–alowermarketcapdoesn’tnecessarilymeanthataprojectisstruggling.Itmaysimplyindicatethattherearefewertokensincirculation.Cryptomarketcapwasinitiallycopiedfromthestockmarket.Althoughoneofthefactors,price,ispresentinbothcases,therewasaneedtofindacryptometricthatreplicatedtheroleofsharesoutstanding.Theoptionthatmostresembledsharesoutstandingwastotalsupply–allcoinsortokensthatcurrentlyexistandareeitherincirculationorlocked.Butthisopenedaloophole.Tokenownerscouldartificiallyinflatetheirmarketcapbypre-miningcoinsandlockingthemaway.Inresponse,totalsupplywasswappedforcirculatingsupply–allcoinsortokensthatareailablefortrading,excludingthosethatarereservedorlocked.Circulatingsupplywasintendedtomeasureliquidsupply.Thisraisednewcomplications,namelyhowtodefinewhichpartofsupplycouldbeconsideredliquid.Takelostcoins,forexample.Circulatingsupplyisincapableofjudgingwhichcoinsarelostforever.InthecaseofBitcoin(BTC),itisestimatedthatupto4millioncoinshebeenlost.Ifthesecoinsweretoberemovedfromcirculatingsupply,thecurrency’smarketcapwouldnosedive.Manycriticsofcirculatingsupplysuggestthatthemetrictendstooverestimatetherealsupplyonthemarketbyincludingtokensthataren’tactuallyailable.Perhapsthemostnotablepitfallofthecryptomarketcapcalculationisfoundinthemechanicsofthecryptocurrencymarket.Asthecryptomarkettendstobemorevolatilethanthestockmarket,anysignificantbuyorsellordercanleadtoamajorpricemovementthatwillaffectaproject’smarketcap.Thisiswhyweoftenuseametricknownasredemptionimpactscorewhichmeasuresthelikelihoodofalargeorderaffectingthepriceofacryptoasset.Ahighredemptionimpactscoreindicatesalessstablepricewhilealowscoreindicatesthatanassetcanmaintainarelativelystablepricethroughdynamicmarketactivity.Inreality,themajorityofcryptocurrencieshehighredemptionimpactscores.Anotherdrawbackofcryptomarketcapisthatitispronetomanipulation.MustafaAl-BassamfromUniversityCollegeLondondescribedacasewhere0.002ofthecoinFirstblood(1ST)wasboughtfor$140worthofEthereum(ETH).Thisledto1ST’spricebeingquotedat$69,000percoinandamarketcapof\$163billion.Foramoment,1STtheworld’ssecond-biggestcryptocurrency.Thisdemonstrateshoweasilymarketcapcanbemanipulatedwhenacoinhasmeertradingvolume.Thesameoccurswhenawhale,orlargeinvestorholdingasignificantpercenteofacryptocurrency,decidestodumpitallatonce.Thecryptocurrency’spriceplummets,followedbyitsmarketcap.Anotherwaytoillustratehowinefficientandevendeceivingmarketcapcanbeistoiminethatyouarelaunchingacryptocurrencyproject.Let’ssaythattheprojecthasatotaltokensupplyofonebillion.Ifyousellasinglecoinfor$1,yourprojectisnowworth$1billion.Yetanotherdownsidetocryptomarketcapisitsinabilitytomeasurethevalueofaproject.Cryptomarketcapmerelyrevealsthepricethatinvestorsarewillingtopay.Itdoesnotexpressvalue.Considerovernightpricegains.IfTron(TRX)suddenlyjumps20%,doesthatmeanthenetworkhasaddednewfeaturesorcreatedreal-worldvalueinanyway?Mostofthetime,theanswerisno.Generally,itjustmeansthatpeoplearewillingtopay20%morefortheasset.Onelastthingtobearinmindisthatmarketcapisareflectionofthelastpriceatwhichacryptoassettraded.Allprevioustradeswereexecutedatdifferentprices,andthereisnoguaranteethatthelastpricewillbethepriceatwhichthenexttradeexecutes.Infact,giventhevolatilityofcryptocurrencies,priceisunlikelytoremainthesameforverylong.CryptomarketcapalternativesSeveralalternativesheproventobebetterindicatorsofcryptoassetquality.Thefirstismarketcap’supgradedversion-fullydilutedmarketcap(FDMC),whichoptimizescirculatingsupplybynormalizingdisparitiesinemissionschedules.FDMCbasesmarketcapcalculationsonapointinthefuturewhenanasset’ssupplyiscomparabletothecurrentsupply.Thisnormalizesemissionschedulesbetweenassetstoprovideamoreevencomparison.However,FDMChasitsflaws.Themainoneisitsinabilitytodealwithprotocolsdesignedtoinflatesupplyinperpetuity.Thismeansthatnomatterhowdistantthepointintime,resultsmaystillbeskewed.AnotherpitfallofFDMCisitsassumptionthatpriceswillremainconstantregardlessofchangesinsupply.Realizedcapisanothermarketcapalternative.Itimprovesoncirculatingsupplybyexcludingcoinsthathebeenlostorneveractivated.Theindicatorreliesonunspenttransactionoutput(UTXO),whichisusedbynodestoconfirmthevalidityoftransactions:ifatransactionisn’tpresentinthedatabase,itisn’tconsideredvalid.UTXOhelpsoidtheproblemofdouble-spending,orthespendingofnonexistentcoins.ResearchersuseUTXOtoestimatethenumberofcoinslostovertime–inthecaseofBitcoin(BTC)–andcoinsthatwereneverclaimedoractivated–inthecaseofBitcoinCash(BCH).TheonlydownsidetorealizedcapisthatitstrugglestodifferentiatecoinsthatarelostentirelyfromcoinsthatareHODLedforthelonghaul.Thisleadsustooneofthemostpopularalternativestomarketcap,market-value-to-realized-value(MVRV),whichseekstodeterminehowover-orundervaluedaparticularassetisbyanalyzingwhereitisinitsmarketcycle.MVRViscalculatedbydividingmarketcapbyrealizedcap.Theconceptisthatmarketcaprevealsmarkethypewhilerealizedcapindicateswhetherlong-term,“serious”investorsheenteredthemarket.Theadditionofmarketcycleanalysisenhancesmarketcapandmakesitmoredynamic.Youcanlearnmoreaboutmarketcapalternativesinthefollowingessay.However,itisworthnotingthatcryptomarketcap,oranyofitsalternatives,representasinglewaytoevaluatethequalityofacryptoasset.Thereareotherindicatorsthatprovidestatisticaldataabouttheperformanceofcryptoassetsandcharacteristicsthatmightbedetrimentaltotheirlong-termhealth.Tofullyunderstandthem,wemustfirstlookatthestockmarket.Tofindtherealvalueofastock,analystscalculatethenetpresentvalueofacompany’sprojectedrevenuesordividends.Stockmarketanalystsrelyheilyonrelativevaluationmodelslikeprice-to-earnings(P/E),whichallowsthemtoperformafaircomparisonoftwoinstruments.Cryptocurrencyanalystsheattemptedtoadaptthisframeworkintometricssuchasnetwork-value-to-Metcalfe(NVM)andnetwork-value-to-transactions(NVT).BeforedelvingintoNVM,let’sdefineMetcalfe’sLaw.Thelawisusuallyappliedtoonlinenetworks,butitisalsoconsideredusefulintheworldofcryptocurrencies.Accordingtothelaw,themorepeoplewhouseanetwork,themoreutilityeachpersonderives.Thisalsoleadstoahighernetworkvalue.CryptocurrencyanalystsuseNVMtodeterminehowover-orundervaluedanassetmaybe.Thenextratio,NVT,focusesontransactionvolume.TheratioissimilartoP/Einthestockmarket,whereearningsactasaproxyforthevaluethateachshareholderreceives.Inplaceofearnings,NVTsubstitutesnetworktransactionsanddividesmarketcapbydailytransactionvolume.HighNVTindicatesthatanasset’smarketvaluesurpassesitsactualvalue.LowNVTindicatesanundervaluednetwork.NVTisn’taflawlessindicator.It’snotclearonwhichtransactionsshouldbeconsidered,andthefactthatthereareon-andoff-chaintransactionsincreasesthedifficultyofestimatingtotaltransactionvolume.Anotherwaytodeterminetheliquidityofanassetisthroughbuysupport,whichisthesumofbuyordersat10%distancefromthehighestbidprice.Buysupporthelpsexplainhowliquidaparticularassetisandhowmanybuyordersshouldbeexpected.Inadditiontofactorslikeprice,circulatingsupply,liquidity,andtradingvolume,anetwork’svaluecanalsobeconsideredintermsofsecurity,numberofactivecontributors,andpopularityonsocialmediaandTelegram.Hopefully,thisdemonstratesthatcryptomarketcapisanincompletemetricandthatinvestorswhorelyonitexclusivelydosoattheirperil.Althoughmarketcapisthemostpopularindicatorofcryptoassetvalue,itisinefficientatestimatingassetqualityandstrugglestoprovideactionabledata.Forthesereasons,cryptomarketcapshouldalwaysbebackedbyadditionalmarketmetrics.Howcanacryptocurrencyraiseitsmarketcap?Therearetwowaystoraisethemarketcapofacryptoproject.Thinkofthemasthe“artificial”wayandthe“natural”way.Or,inotherwords–the“bad”wayandthe“good”way.The“bad”wayexistsbecausemarketcapisaninefficientindicatorandpronetomanipulation.We’regoingtofocusonpositive(or“natural”)waystoraiseaproject’smarketcap.Wehealreadyexaminedthedrawbacksofmarketcap.Tosummarize,itpresentsinvestorswithapriceratherthanavalue.Whileahigherpricedoesn’tnecessarilyindicateahighervalue,ahigherreal-worldvaluecanincreasethepriceofatoken.Thismeansthatifyouwanttoraisethepriceofacryptocurrency,focusonincreasingthevalueofthenetwork.Thefirststepistoattractasmanyactiveusersaspossible.Thebiggerthenetwork,themorestableandattractiveitis.VitalikButerin,thefounderofEthereum(ETH),listedseveralcharacteristicsthatincreasethevalueofanetwork:SecurityLargernetworksrequireconsensusfrommorenodes,whichmeansmoreresilienceainsthackers.Usability–Merchantadoptionmeansbetterusabilityandmoreconvenienceforconsumers.Andviceversa.Themoreconsumersthatuseaparticularnetwork,themoreattractiveitistomerchants.Integration–Platformswithmoreusersarealsomoreattractivetothird-partyserviceorproductproviders.Themoreintegrationsanetworkhas,themorefunctionalitis.Marketdepth–Biggernetworksusuallyhegreatertradingdepthonexchanges,allowinguserstoconvertlargerquantitiesofacryptocurrencywithoutsignificantlyaffectingitsprice.Reasonablefees–Usersprefercryptocurrencieswithnoorlowfees.Themoreusersacryptocurrencyhas,themorecounterpartiesthereare,whichnaturallydrivesdowntransactionfees.Buthowdoesanetworkreachapointwhereitattractsnewusersonaregularbasis?Beforeanetworkattractsuserscontinuouslyandnaturally,itmustmeetcertainprerequisites.Let’stakealook.Real-worldusecasesForacointobevaluable,itmustheastrongusecase.Aprotocolmustsolveareal-worldproblem.Itcouldtackleamarketpainpointorprovidevaluetoinvestorsintheformofutilityrightsorasamediumofexchangeonaplatform.Whenacoinhasaprovenusecase,thereisanincentiveforinvestorstobuy,hold,orspendit.ConsiderEthereum.Forsomeonetodevelopapplicationsonthenetwork,heorsheneedsgas,whichcomesfromtheplatform’scurrency,ETH.Themoredevelopersthereare,thebiggerthedemandforETH,andthehigheritspricegoes.Theresult:ahighernetworkvalueandahighermarketcap.Theaimofeachcryptocurrencyismassadoption.Thatsaid,hingreal-worldapplicationsremainsadifficulttaskformostcryptoprojects.Itisalongandcomplicatedjourney,butitistherightpathtofollow.__Acointhatisn’tdesignedwithausecaseinmindismerelyatoolforspeculators,withoutanyfundamentalvalue.ScarcityInsomecases,scarcitycanresultinincreasedvalue.Themorerareanasset,themoreexpensiveitbecomes.ThisiscertainlythecasewithBitcoin(BTC).Itsfixedsupplymeansthatitsprotocolcannotcontinuouslyissuenewtokens,andmanyexpertsbelievethatthecloserwegettothemomentwhenallcoinsaremined,thehigherthepricewillrise.Thisprincipleisvalidmostlyforcoinswithreal-worldusecases.Alargenumberofcoinsaredesignedwithcontinuouslyexpandingprotocols.Althoughthisleadstoahighermarketcap,itdoesn’treallyaddvalue.Meanwhile,otherprojectsheanintegrated“burning”mechanismtodestroyaportionoftheirsupplyandincreasethepriceofeachcoin.Scarcityisausefultoolforprojectownerswhowishtocontrolthemarketcapoftheirtokens,butitshouldbeusedappropriately.ListingsonexchangesAnotherwaytoboostmarketcapistogetlistedonasmanyreputablecryptoexchangesaspossible.However,gettinglistedonexchangescannotbethefinalgoal.Manyhepoliciestodelisttokensthataren’tregularlytraded.Therefore,it’svitalforprojectstowaituntilthey’vegainedsomepopularityandbuiltaninitialuserbase.Projectsthatarelistedonleadingexchangesareusuallyconsideredmorereputableandfinditeasiertoattractinvestors.Thisthenleadstohigherliquidity,which,combinedwithahighermarketcap,canturnacryptoassetintoapreferredinvestmentopportunity.Formoreinformationonhowtogetlistedonanexchangeandremainsuccessfulafterward,checkourCryptocurrencyExchangesFAQ.AclearroadmapProjectsthathitroadmapmilestonesontimeheahigherperceivedvalue.Aproject’sopennesstoinnovationandpartnershipswithproventhird-partyserviceproviderscanalsoraisecredibilityintheeyesofinvestors.Backingfromwell-knowncompaniesmeansmoretransparencyandamorenaturalpathforprojectstoestablishthemselvesonthemarket.LoyalfollowersProjectsthatheastableorincreasingbaseoffollowersaremoreattractivetoinvestors:thehigherthenumberofactivecontributors,themoreprogressiveanetworkwillbecome.Thinkofitlikethesnowballeffect–themorepeoplethereareonanetwork,themorewillbeinterestedinjoining.Onewaytogaugeanetwork’snumberofusersisitsnodecount.Nodecountrevealshowmanyactivewalletsexistonanetwork.Thehigherthenumber,thestrongerthenetworkis.Thisiswhymanyinvestorsuseamarketcap/nodecountratiotodeterminewhetheracryptocurrencyisunder-oroverbought.However,ahighnodecountoralargecommunityisnotenough.Projectsmustalsolistentotheirusers,whocanspotpointsoffrictionorrecommendfeaturesthatworkwellonothernetworks.Thetruthis,themarket–oruserbehior–cantellaprojecteverythingitneedstoknow.AreputationfortransparencyThereisnothingmoreharmfultoacryptocurrencythanabadreputation.Manyprojectsdoomthemselvesbydwellingintheshadows,whereit’simpossibletoearnuserorinvestortrust.Therehealsobeenseveralcasesofprojectsusingwhitepaperscopiedfromotherprojectswithoutchanginganythingbuttheorganizationandtokenname.Althoughsomeinvestorswillfallforaboguswhitepaper,itisusuallyarecipefordisaster.Investorsalsotendtooidtokensthatheahistoryofsecuritybreachesorprotocolissues.Thoughthisisn’ttosaythataprojectcan’tsurviveahack.Infact,ifaprojectshowsthatitovercameasecurityissueandbouncedbackstronger,itwillreflectpositivelyonthelong-termvisionoftheprojectandthequalityoftheteambehindit.Insummary,toraisethevalueandmarketcapofacryptoasset,oneshoulddiscloseeverythingabouttheproject(owners’backgrounds,roadmap,futureplans,risks,etc.)andbeastransparentaspossible.MarketingInrecentyears,themarketingofcryptoassetprojectshasbecomeincreasinglyimportant.Competitionforcesprojectstocontinuouslyimprovetheirmarketingcommunicationsandadoptdifferentchannelstodiscovernewaudiencemembers.Marketingdoesn’tstoponceaprojectgoesliveorgetslistedonanexchange.Ifaprojecthasauniqueusecase,there’sachancethatwordwillspreadorganically.However,inmostcases,projectsshouldspendatleastsomemoneyonmarketingandPR.Howbigcanthecryptocurrencymarketcapget?Todeterminethemaximumcryptocurrencymarketcap,weneedmaxvaluesforpriceandcirculatingsupply.Generallyspeaking,thepriceofacryptocurrencyisdeterminedbysupplyanddemand.Unfortunately,demandisalmostimpossibletopredict.Forexample,inthecaseofBitcoin(BTC),wecan’tbesureatwhatpriceitwilltradewhenitreachesitsmaximumsupplyof21million.Itcouldbe$50,000or$500,000.Dependingonoutsidefactors,suchasabanoncryptocurrencies,itmayevendropbelowitscurrentprice.Estimatingthemaximumcirculatingsupplyofallcryptocurrenciescanalsobedifficult.Whilesomeprotocolsdeclareafixedsupply,othersaredesignedtocontinuouslyissuenewtokens.Duetotheseunpredictabledynamicsandthefactthatnewcryptocurrenciesaredevelopeddaily,itbecomesquitehardtopredicthowmuchcryptocurrencywillbeincirculationatanypointinthefuture.Thatsaid,todeterminethemaximumcryptocurrencymarketcap,onewouldhetofindthemaximumcirculatingsupplyofallailablecryptocurrenciesthenmultiplythatbythepricesofthosecurrencieswhentheirrespectivecirculatingsuppliesareattheirmaximums.Let’sseewhatsomeofthefield’sleadingfiguressay.ChangpengZhao(CZ),thefounderofBinance,admittedthatheseescryptocurrenciesgrowing1000xmoreandsurpassingamarketcapof\$200trillion.VitalikButerin,co-founderofEthereum(ETH),statedthatheseesroomforgrowth,butaddedthatit’sunlikelythecryptocurrencymarketreachessuchlevels.Who’sright?Althoughwecan’tknowforsure,wecanmakesomeassumptionsbasedonpresentinformationandexpertprojections.Ifthecryptomarketcapreaches\$200trillion,itwillmeanthatcryptocurrenciesrepresentthemajorityoftheworld’swealth.Forthistooccur,theworldfinancialsystemwouldhetoundergoaparadigmaticshift.Banksandhigh-net-worthindividualswouldhetodropcurrentinvestmentsandstoresofvalueinforofcryptocurrencies.Fornow,thisseemsunlikely.AsurveybytheWorldEconomicForumconcludedthatin2027,10%oftheworld’sGDPwillbeheldindigitalassets.AccordingtostatisticsfromtheWorldBank,globalGDPwasapproximately$85.8trillionin2018.Long-termGDPforecastsprojecta2027GDPof$126trillion.Iftheaboveestimatesarecorrect,in2027,$12.6trillionoftheworld’sGDPwillbestoredincryptoassets.ThesefiguresarefarfromCZ’s$200trillion.Let’slookatitanotherway.IfthepriceperBitcoinreaches$50,000whenthemaximumsupplyismined,itsmarketcapwillsurpass$1trillion.ConsideringthatBitcoinaccountsformorethan60%ofthecryptomarketcap,itmeansthattheentiremarketwillonlybeworthabout\$2trillion.Togetabroaderperspective,let’stakealookattheworld’smoneysupplyandthewayitisdiversified.In2017,theplanet’snarrowmoney(coins,banknotes,andcheckingaccounts)wasworthabout$36.8trillion.Moreonthathere.AccordingtodatafromtheWorldBank,the2018marketcapitalizationforalllisteddomesticcompanieswas$68.6trillion.Thismeansthatexplosivegrowthwillberequiredforthemarketcapofcryptocurrenciestorivalthemarketcapofcheckingaccountsorstocks.Intheory,theonlycheckonthecryptocurrencymarketcapistheworld’smoneysupply.However,atleastinthenear-term,it’sunlikelythecryptomarketcapexceedsevenafewtrilliondollars.Howcancryptoassetswithlowtradingvolumeshehighmarketcaps?Marketcapitalizationisapopularindicator,butitdoesn’ttellthewholestory.Rankingcryptocurrenciessolelybymarketcapignorescrucialstatisticalinformationandfailstoinforminvestorsaboutpopularity,liquidity,andotherimportantfactors.Investorswhobasetheirdecisionsexclusivelyonmarketcapoftenendupdisappointed.Investorswouldbebetteroffanalyzingthetimeneededforacryptoassettotradeitsmarketcapequivalent.Theruleofthumbisthatifacryptocurrencygeneratestradingvolumethatisequaltoorhigherthanitsmarketcap,itishealthyandstable.Investorscangetinandoutofpositionsquicklyandlockintradesatpreferredprices.Monthlytradingvolumeforsomeofthemorepopularcryptocurrenciesissimilartotheirrespectivemarketcaps.Thisindicatesstabilityandbalancedinterestfrommarketparticipants.ButifwelookatBytecoin(BCN),wefindamajorgapbetweentransparenttradingvolumeandmarketcap.Asofthiswriting,itwouldtake212monthsforBytecoin’smonthlytradingvolumetoreachitsmarketcap.InthecaseofIOTA(IOT),itwouldtakeapproximately7months.ForBitcoin(BTC)andEthereum(ETH),itwouldonlytake2.5and1.5monthsrespectively.Howmightacoinwithlowtradingvolumegetahighmarketcap?Itoftenoccurswhenacryptocurrency’ssupplyishigh,buttherearen’tmanycoinsincirculation.Thiscouldbeduetolong-termHODLerswhoaren’tactivelybuyingandselling.Adisadvanteofinvestinginlow-volumecryptoassetsistheirinabilitytosupportbigtrades.Asingletradecouldmovealow-volumecryptocurrencysignificantly.Thismakessuchassetsunattractivetolargeinvestorswhowouldstruggletoexecutemajortradeswithoutexperiencingslippe.WherecanIfindhistoricalcryptomarketcapdata?Dependingonwhetheryouwantinformationabouttheentirecryptocurrencymarketoranindividualasset,thereareseveralwaystotrackmarketcaphistoryonNomics.Here’showtoproceedinbothcases:HowcanIgethistoricalmarketcapdatafortheentirecryptomarket?Oneofthefirstthingsyou’llseewhenyouvisitourhomepeisawindowwithinformationabouttheglobalcryptocurrencymarketcap.Itislocatedinthetopleftcornerandincludesdatathatgoesbackuptoayear.Nexttothewidget,you’llfindinformationaboutmarketcapgainers(%)andthemostdominantcoinsinthecryptomarket.HowcanIgethistoricalmarketdataforaspecificcryptocurrency?Togetmarketcaphistoryforaspecificcryptocurrency,gotothepeforthatasset.Let’stryLitecoin(LTC).The“Statistics”tabofferscondensedinformationaboutLitecoin’smarketcap,pricechanges,marketdominance,andmarketcaprank.“HistoricalData”containspriceinformation(open,high,low,andclose)alongwithdailytradingvolumesthatdatebacktoLitecoin’sfirsttradingday.The“Widget”sectionoffersfreeaccesstoanembeddable,mobileresponsivewidgetthatdisplayslivetickerpricesandhistoricallinechartdata.Formoreonourembeddablecryptocurrencypricingwidget,seethisannouncement.Howcanacryptocurrencyartificiallyboostitsmarketcap?Inapreviousanswer,wecoveredthedrawbacksofrelyingonmarketcapwhenmakingcryptocurrencyinvestmentdecisions.Wedemonstratedjusthoweasyitistomanipulatemarketcap.Inrecentyears,thecryptocurrencyspacehasmadestridestowardslegitimacy,butsystemicabuseremains.Oneofthemostcommonwaystheecosystemismanipulatedisviaartificialinflationofprojectmarketcaps.Herearefivepracticesthattokenissuersadopttomanipulatetheirmarketcaps:1.SupplymanipulationCryptomarketcapiscalculatedbymultiplyingthepriceofacoinbyitscirculatingsupply.Thismeansthatbyinfluencingcirculatingsupply,atokenownercanaffectthemarketcapitalizationofhisorherproject.Theeasiestwaytodothatisbybuildingfrequenttokenemissionsintotheprotocol.Otherprojectownersadoptthestrategyofreleasingamassiveinitialissue.Ifanewcryptocurrencycanissueamilliontokensandsellthefirstonefor$1,themarketcapoftheprojectbecomes$1million.SowasthecasewithU.CASH(UCASH),Dentacoin(DCN),andseveralotherprojects.Anotherwaytomanipulatesupplyisbyairdroppingcoinsintouserwallets.2.FaketradingvolumeThisisthemostcommonmeansofmanipulatingacryptocurrency’smarketcap.Overthepastfewyears,severalstudiesheconcludedthatsometokenownerssendfakevolumetoexchangestomaketheirprojectsappearmoreattractivetoinvestors.Highervolumeindicatesgreaterinterestinaprojectandmoreliquidity,whichmeansthatinvestorscanenterandexitpositionsattheirpreferredprices.Atokenwithhigherreportedvolumeisalsomorelikelytobelistedtowardsthetopofanexchange’srankings,whereitwillbemorevisibletoinvestors.ThiscansparkFOMO,or“fearofmissingout.”3.PricemanipulationAnotherwaytomanipulatecryptoassetpricesisviaso-called“pump-and-dump”schemes.Theseschemesaren’talwaysengineeredbytokenowners.Sometimestheperpetratorisaninvestorinterestedinartificiallyboostingthepriceofacoin.Inapump-and-dumpscheme,amarketparticipantsendsahighvolumeofbuyorderstocreatetheimpressionthatthereisinterestinaproject.Thisgeneratesrealinterest,andthepricejumps.Atthatpoint,theinitialbuyerssell–ordump.Unliketraditionalpump-and-dumpschemes,inacryptoassetpump-and-dump,thepricemayfall,butitdoesn’tnecessarilycrash.Afterall,therearesomenaturalbuyers.Justtobesurethatthepricedoesn’tcrash,fraudstersmaydumpinwes.Ratherthansellallatonce,theysellsteadily.Thisresultsina“bottom-fishing”situationwhereotherswonderwhetherthepricedropismerelytemporary.They’remotivatedtobuyandendupsupportingtheprice.Allofthisresultsinanartificialpriceincreasethatsimultaneouslydrivesupmarketcap.Thistypeofpricemanipulationisusuallyappliedtolowmarketcapandlow-volumecryptoassets,although,dependingonthescale,itcanworkinmoredevelopedmarketsaswell.Tolearnmoreaboutpump-and-dumpschemesandtheirapplicationtothecryptocurrencyworld,seethiscomprehensivestudy.4.FakerecommendationsandmisinformationManyprojectspayreviewsitesforpositivereviewsandrecommendations.Anunsuspectingaudiencecanbeeasilymanipulated.Thedisseminationoffalseinformationoftenhappensduring“pumping”phaseswhenthecommunitybehindaprojectendeorstoattractasmanyinvestorsaspossible.Totrickothersintobuyingtheircoin,acommunitymighttryfakenewsstories,fakepartnerships,orevenforgedendorsementsfromprominentpublicfigures.Forexample,agroupcreatedafakeTwitteraccountthatresembledonebelongingtoJohnMcAfee,anNomi: Crypto Market Caps - Prezzi, Highs All-Time, Chartsentrepreneurandawell-knownfigureinthecryptocurrencyworld.Theaccount’snamewasmadetolookliketherealone,@officialmcafee,onlyitincludedanextra“l”.Thefakeaccountpostedpositivetweetsaboutanaltcoin,GenesisVision(GVT),andsupportedthosestatementsinachatroom.Thetweetwassharedthousandsoftimes,andthepriceofthecoinjumped50%.5.HypeSomeprojectownersusebotsandfakeaccountstogeneratebuzzonsocialmedia.Buzzattractsinvestors.Moreinvestorsmeanahigherpriceandahighermarketcap.Analystshedevelopedmetricstoevaluatewhetheraprojectisbeingunreasonablyhypedonsocialmedia.Oneofthemostpopularindicatorsisthehype-to-activityratio.Itmeasuresthenumberoftweetsaboutacryptoassetpermilliondollarsoftradingvolume.Theratiouses30-dayeresforbothtweetsandtradingvolume.Inmostcases,overhypedprojectsareindeedusingbotsorfakeprofiles.Hypecanalsocomefromtheorganizedeffortsofaproject’scommunity.InvestorsmayjoinforcesonTelegramtohypeaprojectandincreaseitsprice.StudiesheshownthatTelegramandDiscordgroupsarecapableofboostingpricesasmuchas950%.Thatsaid,mostinvestorsareabletoseethesehype-drivenpumpsforwhattheyare.Howcanacryptocurrencyartificiallyinflateitstradingvolume?Faketradingvolumeisoneofcryptocurrency’smostwell-knownproblems.Numerousreportshecomeout(Bitwise,CryptoIntegrity,TheBlock,SylvainRibes,andothers)whichconfirmthatabubblewascreatedbytokenownersandexacerbatedbyexchangesandexchangedatagregators.Studiesconcludethatmorethan80%oftradingvolumeisfake.Thetruthisthatartificiallyinflatingtradingvolumeisprofitableandeasy.Fromaprojectowner’spointofview,inflatingvolumemakestheirprojectmoreappealingtoinvestors.Hightradingvolumeisasignofliquidity,whichallowstraderstoenterandexitpositionsquickly.It’salsoindicativeofstability,orlowvolatility.Highvolumesignalsthatamarketishealthyandworthinvestingin.Forthesamereasons,highertradingvolumeenablesanexchangetochargehigherlistingfees.ItalsogeneratestrafficfromgregatorsandhelpsexchangesattractIEOs.Tradingvolumedoesn’tgrowontrees,butitisrelativelyeasyforprojectownerstomanipulate.Fromthere,thecontionspreadstoexchangesandmarketdatagregators.Whatarecommonwaystofaketradingvolume?Themostcommonmethod,tickerstuffing,isdetailedbyNomicsCEOClayCollinsintheshortvideo,“HowCryptocurrencyExchangesSpamCoinMarketCap(WithFakeVolume).”Anexchangesimplychangesthevolumenumber.It’sthateasy.Atoken’stradingvolumecangrowfrommillionstobillionsinthesecondittakestotypethreezeros.There’snoneedtomodifytradesorcandles.Allonehastodoisadjustthenumber.Thereareotherwaysaswell.Coindeskhasfoundthattherearecompaniesofferingtofakevolumeforafee.TheseoutfitsprogrambotstobuyandsellatokencontinuouslyuntiltradingvolumeissufficientlyinflatedtoearnarankingonCoinMarketCapandotherexchangegregatorsites.Thispracticeisalsoknownas“washtrading”.Mostofthetime,washtradingisengedinbyexchanges,butitcanbedonebytokenownersaswell.Someexchangesencouretheircustomerstowashtradeforthem.Theseexchangescompensatewashtraderswithtokensordiscountedfees.Foraprojectowner,anexchangemightalsooffertocutthelistingfee.Inmanycases,whenanexchangeandaprojectownerconspiretoartificiallyboosttradingvolume,it’sawin-winforbothsides–atleastintheshort-term.Otherexchangeskeepitsimpleandcounteachtradetwice.If,forexample,Bitcoin(BTC)istradedainstEthereum(ETH),theexchangewouldrecordtwotransactions–abuyandasell.HowcanIrecognizefakevolume?Mostexchangegregatorspostdatadirectlyfromtokenprojectsorcryptoexchanges.Oftentimes,thisdatacontainsfakevolume.Mostofthetime,ifyouuseangregator,you’llhetoperformindependentresearchtoverifythereportedinformation.AtNomics,wetakeadifferentapproach.WeprovidevisitorsandAPIuserswithTransparentVolume,theportionoftradingvolumethatcomesfromexchangesthathereceivedanA+,A,orA-TransparencyRating.Thesehighly-ratedexchangesareconsideredtobetransparentbecausetheyheprovidedNomicswithhigh-granularitytradedata,includingfullhistoriesforeachtradingpair.Inotherwords,withtransparentvolume,yougetamuchmorerealisticrepresentationthatexcludeswashtradingandotherformsoftoxicvolume.Foreachcryptoassetlistedonourhomepe,TransparentVolumeislocatedbetweenVolumeandCirculatingSupply.Formostassets,TransparentVolumerangesbetween20%and70%.However,therearesomeassetswithvaluesaslowas5%.Thisgoestoshowthelevelofmanipulationthatexistsinthecryptocurrencymarket.Whatisthetotalcryptomarketcap?Thetotalcryptocurrencymarketcapisthesumofthemarketcapsofallactivelytradedcryptocurrencies.Tofindthetotalcryptocurrencymarketcap,visitNomics.com.Inthetopleftcornerofthehomepe,you’llseeawindowwithreal-timeglobalmarketcapinformation.Mouseoverthe“i”,or“information”tforpercentechangesinglobalmarketcapoverthepast24hours,7days,30days,andyear.Ifthenumbersareblue,itmeansthattheoverallcryptomarketcaphasremainedsteady.Ifthey’rered,thenmarketcaphasdecreased.Greenindicatesthatglobalmarketcaphasincreased.Bitcoin(BTC)oftenaccountsformorethan60%ofthetotalcryptomarketcap.WhichcryptocurrencyshouldIbuy?Thisisacommonquestionandanunderstandableonegiventhattherearemorethan2,300activelytradedcryptocurrenciesandmorethan1,700thathealreadybeenburiedinthecryptogreyard.Thevarietyofinvestmentopportunitiescanresultinanalysisparalysis.Youshouldchooseprojectswithhistory,acleargoal,transparentvolume,anactivecommunity,andongoingdevelopment.Thesecharacteristicsindicateahealthyprojectwithpotential.It’salsoimportanttoconsideryourrisktolerance.Youcouldchooseaprojectthatisalreadylistedandactivelytraded,suchasBitcoin(BTC),Ethereum(ETH),orRipple(XRP),oryoucouldgowithahigh-risk,high-rewardICO.Let’sstartwithlistedandactivelytradedcryptocurrencies.Thesecurrenciesareoftenregardedasmoresecurethannewprojects.Theyhetrackrecordsandenoughtradingvolumetobeconsideredliquid.Ifyouchoosetoinvestinaleadingcoin,followthenewsforregulatorydevelopments,policiesthatmayeaseorpreventmainstreamadoption,andindustryshifts.Ifyouhetheskills,youcanalsoincludetechnicalanalysis.Thatway,you’llheawell-roundedstrategythatminimizesrisk.WhetheryourgoalistoHODLforyearsortospeculateonshort-termpricefluctuations,establishedcryptoassetscanbeanexcellentchoice.ThenthereareinvestorswhodreamofdiscoveringthenextBitcoinorEthereum.Thesefolkstendtolookatpre-ICOprojectsandICOswithhighgrowthpotential.Whenconsideringearly-steopportunities,it’simportanttobewareprojectsthatpromiseexorbitantreturns.Manyprojectsthatmakebigpromisesarenotreallydesignedtosucceedintherealworld.They’resolelyfocusedonseparatingnoviceinvestorsfromtheirmoney.Whateveryourrisktolerance,beforemakinganinvestmentdecision,itisessentialtodeterminewhichtypeofcryptoassetyou’reconsidering.Therearefivemaincategories:UtilitytokensAlsoknownasapptokens,utilitytokensheanapplicationandvalueontheirissuingplatforms.Investorswhopurchaseutilitytokensbelieveintheprojectwithwhichthey’reassociatedandwanttobuyinbeforethepricegoesup.Bearinmindthatthetotalsupplyofutilitytokensisusuallyfixed.SecuritytokensSometimesreferredtoas“digitalshares”,securityorequitytokensaretokenizedslicesofsecuritiesinwhichholdersheownershiprights.Securitytokenscanalsoprovideholderswiththerighttoreceivedividends.Formoreonsecuritytokens,checkoutourthree-partaudiodocumentary,TokenizetheWorld.AssettokensAssettokensaredigitalrepresentationsofphysicalassetslikegoldandsilver.They’repopularbecausetheyprovideinvestorswithaneasywaytobuypreciousmetalsandothercommodities.Thepriceofanassettokenistiedtothepriceofanunderlyingphysicalasset.CurrenciesCurrenciesarethemostcommoncryptoassettype.Astheirnamesuggests,theyserveasaformofpayment.Bitcoin(BTC)isthemostprominentexample.RewardtokensRewardtokenshenovalueontheopenmarket.They’resimplyusedtogamifyplatformengementbyrewardinguseorloyalty.Mostrewardtokenscanonlybespentontheirissuingplatform.We’vecoveredthetypesoftokensaprojectcanissue.Nowlet’scoversometipsthatwillmakeyouabettercryptoinvestor.Toincreaseyouroddsofchoosingsoundcryptoassetprojects,considereachopportunityintermsofthefollowingcharacteristics:1.PhilosophyandstatedgoalsInmostcases,ICOsareideasthatneedmoneytoberealized.AnICOisrarelyafunctioningproduct.Ifyoudecidetoinvestinanearly-steproject,understandthatyou’resupportingaconcept,notsomethingthathasbeenproven.ThisisnottosaythatinvestinginanICOisfoolhardy.Injustfivedays,theEOS(EOS)ICOraisedover\$180millionwithoutaworkingproduct.Fromthere,thepriceofthetokenskyrocketedmorethan450%.WhatthismeansisthatyoushouldjudgeanICOonitsfundamentalsratherthanitstrackrecordintherealworld.Thinkaboutthephilosophyonwhichtheprojectisbuiltaswellasitsstatedgoals.Bitcoinwaslaunchedasanalternativetotraditionalmoney.Ethereumwasdesignedtobeaworldcomputerfordecentralizedapplications.Themostimportantfactorwhenselectingacryptoassetprojectisthephilosophyandstatedgoalsofitsfounder(s)orteam.Thegoalshouldbeambitiousbutrealistic.Thecryptocurrencyspaceisfilledwithprojectsthatpromisetotransformtheworldforthebetter,butmostattemptstoreorganizetheglobalfinancialsystemorabolishpovertyorhungerwillfail.Itisvitaltodistinguishhypefromanideawithareal-worldusecase.Projectsthatareambitiousintermsofthetechnologythey’redevelopingorwhichhopetorefineanexistingconcepthethebestchancesofdisruptingthestatusquoandmeetingwithsuccess.Thatsaid,it’sworthkeepinginmindthatthelikelihoodoffindingaunicorninthecrowdedcryptocurrencyspaceisnotashighasitoncewas.Lookforprojectsthatseektoaddfunctionality,accelerateprocesses,orotherwiseaddressaspecificpainpoint.Cryptoassetprojectswithclearlydefinedgoalsarethemostlikelytogeneratelong-termvalue.It’salsoimportanttoconsiderthetechnologythatpowersaproject.Launchingatokenrequiresablockchain.MostofferingslaunchonEthereum(ETH).OtherprojectslikeCardano(ADA)createanewblockchainfromscratch.Startingfromsquareonemayyieldterrificlong-termresults,buttheprocessisslow,costly,anddifficulttoexecute.2.AwhitepaperUnfortunately,thereareprojectsintheCryptospherethataredesignedtoscamwould-beinvestorsoutoftheirmoney.Thosewhodon’tdotheirownresearchriskbecomingvictims.IfyoushyawayfromestablishedcoinslikeBitcoinandEthereumandforprojectsthatflyundertheradar,alwaysbesuretoreadthewhitepaper.Seriousprojectswritedetailedwhitepapers.Tokenswithvuewhitepapersorwhitepapersthathebeencopiedandpastedfromotherprojectsshouldbeoided.Agoodwhitepaperanswersallofyourquestions.Itcoverstheprojectgoal,thefounder’sbackground,thedevelopmentteam,andtheroadmap.Agoodwhitepaperalsocoversthelegalframeworkthatexistsbetweenthedevelopmentteamandinvestors.Additionally,itshouldanswerquestionsrelatedtotokendistributionsuchaswhenandhowholdersreceivetokensandtheamountoffundingrequiredforeachphaseofthedistributionprocess.Aboveall,aproject’swhitepapershouldexplainwhyitneedsatoken.Ifthatquestiongoesunanswered,stayaway.Theremustbeareasonforissuingatoken.Ifthereasonisn’tclear,thentheprojectmaylackareal-worldusecase.It’salsoimportanttoknowhowraisedfundswillbestored.Iffundsarenotsecuredbysmartcontractoranescrowaccount,thenyourmoneywillbeatrisk.Beyondthat,it’swisetofamiliarizeyourselfwiththecompanybehindthecoin.Doestheteamincludeexperiencedsoftwaredevelopers?DoestheCEOheatrackrecord?Whoaretheproject’sadvisors?Iftheadvisoryteamseemstoogoodtobetrue,itmaybe.ShadyprojectshefalselylistedA-listadvisors.Ifyouseethataprominentfigurehassignedontoadvise,researchwhetherthatpersonisreallyassociatedwiththeproject.Anyinformationregardingtheteamandadvisorsshouldbefrontandcenterinawhitepaper.Ifit’snot,regarditasaredfl.Ifyouareconsideringinvestinginanestablishedcoin,checkwhetherithasstayedtruetoitswhitepaperandroadmap.Ifithasn’t,youmightwanttosteerclear.3.TradinghistoryForestablished,activelytradedcryptocurrencies,it’simportanttoconsidertradinghistory.EvenifyouintendtoHODL,it’sbesttochooseacryptocurrencythatisactivelytradedandliquid.Wheninvestorsknowtheycanenterandexitpositionswithoutslippe,they’remorelikelytoinvest.Thisbodeswellforpriceappreciation.Tooidfaketradingvolume,usemetricslikeTransparentVolume.It’salsoimportanttoanalyzepricemovement.Cryptoassetsthatconstantlyexperiencewildpricefluctuationsmaybetargetsofpump-and-dumpschemesorothermanipulativetradingpractices.4.StrongcommunityLookforcryptoassetprojectswithsupportive,activecommunities.MostprojectshepublicTelegramorSlackchannelswhereyoucancommunicatewithcommunityorteammembers.There’susuallyinformationonRedditandTwitteraswell.Wheninteractingwithmembersofacryptocommunity,besuretotakeeverythingwithagrainofsalt.Opinionsmaybebiasedandfewcommunitymemberswillhethetechnicalexpertisetoproperlyjudgeorcommunicateaproject’sprosandcons.Keepinmindthatsomeprojects,eventhosewithlargecommunities,relyonpaidPRtoboostinvestorinterest.Takehypeforwhatitis,andalwaysdoyourownresearch.It’salsoworthnotingthatprojectswithcleargoalsandreal-worldusecasestendtomarketthemselvestheleast.Theygiveinterviews,periodicallyreleaseannouncements,andmaintainasocialmediapresence,buttheydon’tpaypeopletohype.5.AcompetitiveedgePayattentiontothecompetition.Youmayhefoundaprojectthatpromisestocreatereal-worldvalueforthousandsormillionsofusers,butwhatifthere’sanotherteamwiththesamegoalinmind?Inacrowdedmarket,theslightestedgeintimetomarketoruserexperiencecanmakeahugedifference.WhenevaluatinganICO,considerwhereaprojectisinitsdevelopment.Sometokenslaunchwithlittlemorethanawhitepaperandaprayer.Othershebetaversionsonthemarketandareactivelycollectinguserfeedback.Inrarecases,thereisaworkingproduct.Thoughitcanbeprofitabletoinvestinveryearly-steICOs,it’ssafesttochooseaprojectthateitherhasaworkingproductorisclosetoreleasingone.Aworkingproductmeansthatdevelopmentisatanadvancedste,whichsignalsthattheideasbehindtheprojecthebeentested,ifnotinthewildthenundercircumstancesthatcloselymimictherealworld.Ifthereisacompetitorproject,considerwheretheyareintheirdevelopment.Ifthey’reclosertoaworkingproduct,theycouldseizeasignificantportionofthemarketwhileclaimingfirst-moveradvante.Anotherthingtolookforiswhetheraprojectisbackedbyventurecapital.IfVCssupportaproject,itsignalsthatithasasoundbusinessphilosophy,goodleadership,andareal-worldapplication.Venturecapitalcanalsobringcredibilitytoaproject,whichattractsotherinvestorsanddrivesuptheprice.Don’tforgettocheckwhethertopVCsbackthecompetition.Iftheydo,itmayindicatethatacompetitorislessrisky,possiblybecauseithasastrongerbusinessplanoramoreexperiencedCEOordevteam.Whenevaluatingacryptoasset,it’svitaltounderstandwhattypeofprojectitis.Welistedfivecategories:utilitytokens,securitytokens,assettokens,currencies,andrewardtokens.Wethendiscussedthecharacteristicsofgoodcryptoassetprojects:asoundbusinessphilosophy,adetailedwhitepaper,liquidity(ifit’sanestablished,activelytradedcoin),anactivecommunity,andacompetitiveedge.Intheend,ifacryptoassetprojectwantsyourmoney,it’sonthemtomakethecase.Aprojectthat’sworthyourtimeandmoneywillbetransparentabouttheirgoalsandoperations.Whatdoes‘Nomics’mean?Nomics-asineconomics.ThewordcomesfromAncientGreek:"nomics”,orÎœÏŒÎŒÎżÏ‚(nĂłmos,“law”).Ithaslongbeenusedincombinationwithotherwordstoformtermsthatdescribethelawsorrulesofadiscipline(e.g.Reanomics,ergonomics,genomics).HowdoIlistacryptoassetonNomics.com?AtNomics,wedon’tlistcryptoassetsdirectly.Foratokentobelistedonoursite,itmustbetradedonacryptoexchangethatisintegratedwithourplatform.Wereceivemarketdataaboutcryptoassetsfromtheexchangeswheretheyaretraded.AdvertiseHereAdvertiseHereMadewith❀i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