Nomics: Crypto Market Caps - Preços, Altos Altos, Gráficos

  • 2021-12-31Data de coleta
  • 2022-02-15Atualizada
Nomics: Crypto Market Caps - Preços, Altos Altos, Gráficos
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/*GlobalDeltaColor*/:root{--delta:hsla(158,100%,44%,1);--delta-hsl:158,100%,54%;--delta-h:158;}Nomics:CryptoMarketCaps-Prices,All-TimeHighs,ChartsthelargestcryptoindexAssetsExchangesConverterWatchlistMore...AdvertiseAPIKeySearchAPIKeymenu1D1D1W1M1YYTD🌎TheWorldx27;slargestIndexofCryptoassets.Getlisted→USDAdvertiseHere⭐️WatchlistAllCryptoCategoryBlockchainTopCryptocurrenciesbyMarketCap67,549(11,794areActivelyTraded)HighlightsStateoftheMarketTotalcryptomarketcapis$893.97B,whichisup+0.94%overthelastday.Thisvaluesallcryptoassetsat12.10%ofGoldx27;smarketcap.24hourglobalcryptovolumeis$128.35B,representinga+5.73%increase(32%ofthisvolume,or$41.16Bistransparentvolume).Bitcoindominanceis37%,whichrepresentsa-0.04%slippeoverthelast24hours.ReadMoreBitcoin$17,199.64+0.97%🔥JustAdded1Grantsville+21.10%2alancheHills+50.81%TopGainers(Top100)1Cronos+12.52%2Dfinity+7.05%GlobalMarketCap(24hr)$893.97B+0.94%GlobalVol.(24hr)$128.35B+5.73%⚡️ActivelyTraded🔥New312☠️Deadcoins🏷NotPricedMarket DataCovereFreeCSV#NameMCapPricePrice1DChange7DPredictionMCapMarketCapVolumeTransparentVol.CirculatingSupply1DChartCSVData1Bitcoin BTC$330.66B$17,199.640.97%0.97%Unlock$330.66B$30.94B53%19,224,668BuyData2Ethereum ETH$157.88B$1,290.122.04%2.04%—$157.88B$11.05B33%122,373,866BuyData3Tether USDT$65.49B$0.-0.05%-0.05%—$65.49B$49.20B36%65,496,215,611BuyDataGetTheLatestCryptoPrices&NewsDeliveredStraightToYourInboxLearnMore→4BinanceCoin BNB$48.12B$294.730.73%0.73%—$48.12B$1.24B36%163,276,975BuyData5USDCoin USDC$43.41B$0.-0.11%-0.11%—$43.41B$2.40B67%43,435,328,022BuyData6BinanceUSD BUSD$22.14B$0.-0.05%-0.05%—$22.14B$7.00B84%22,138,137,066BuyData7XRP XRP$19.66B$0.-0.09%-0.09%—$19.66B$1.25B20%50,260,446,248BuyData8Dogecoin DOGE$14.29B$0.-0.00%-0.00%—$14.29B$1.54B27%137,173,466,384BuyData9Cardano ADA$10.96B$0.0.23%0.23%—$10.96B$734.13M10%33,822,143,310BuyData10Polygon MATIC$8.24B$0.1.01%1.01%—$8.24B$384.06M41%8,868,740,690BuyData11Polkadot DOT$5.68122.12%12LiquidStakedEther STETH$1,274.392.01%13Litecoin LTC$77.911.11%14OKB OKB$21.930.50%15ShibaInu SHIB$0.0.17%16Dai DAI$0.-0.20%171Solana SOL$13.922.84%181TRON TRX$0.-0.99%19alanche AX$14.153.67%20HEX HEX$0.0.65%21ChainLink LINK$7.51541.86%22WrappedBitcoin WBTC$17,151.871.07%23UNUSSEDLEO LEO$3.7924-0.02%24Cosmos ATOM$10.472.72%25UniswapProtocolToken UNI$6.33330.98%26EthereumClassic ETC$19.650.89%27TheOpenNetwork TONCOIN$1.83050.38%28Monero XMR$143.93-2.17%29Stellar XLM$0.0.64%30BitcoinCash BCH$112.010.13%31Quant QNT$130.362.50%322Cronos CRO$0.12.52%331Optimism OP$1.07132.06%341Algorand ALGO$0.0.87%35Filecoin FIL$4.58321.95%36ApeCoin APE$4.19265.64%37NearProtocol NEAR$1.74542.13%38VeChainThor VET$0.-0.03%39HuobiToken HT$6.83371.29%40CryptoInternational CRI$0.0.93%411Dfinity ICP$4.47907.05%421HederaHashgraph HBAR$0.1.18%43Flow FLOW$1.12703.75%44EOS EOS$0.93620.37%45TerraLunaClassic LUNC$0.0.52%46Elrond EGLD$43.40-0.39%47Chiliz CHZ$0.0.38%48Frax FRAX$0.-0.33%49TrustWallet TWT$2.43312.06%501TheSandbox SAND$0.1.29%511Ae AE$65.482.03%522Tezos XTZ$1.01690.44%53ThetaToken THETA$0.-0.67%54LidoDAO LDO$1.11801.13%551BitcoinSV BSV$42.340.99%561TrueUSD TUSD$0.-0.19%571AxieInfinity AXS$7.07733.61%581EscoinToken ELG$3.2481-0.07%59PaxDollar USDP$0.1.05%60Decentraland MANA$0.0.33%61Aptos APT$5.36661.95%621inch 1INCH$0.1.09%63USDD USDD$0.-0.57%64Chain XCN$0.-0.84%65BitTorrentV2 BTT$0.291.18%66PancakeSwap CAKE$4.0114-0.16%671KuCoinToken KCS$6.56881.04%681Maker MKR$653.940.80%691Fantom FTM$0.2.00%701TokenizeXchange TKX$7.6683-0.09%711Zcash ZEC$46.371.32%721GeminiDollar GUSD$0.-0.38%73IOTA(MIOTA) IOT$0.-0.20%742Klaytn KLAY$0.2.49%751CompoundUSDCoin CUSDC$0.-0.11%761ECOMI OMI$0.3.65%772eCash XEC$0.0.53%78SynthetixNetworkToken SNX$1.80142.49%79TIME(Wonderland) TIME$10.220.20%80GatechainToken GT$3.6275-0.14%81Dash DASH$45.761.06%821Osmosis OSMO$1.00001.28%831NEO NEO$6.95730.30%84PAXGold PAXG$1,798.550.37%85CompoundUSDT CUSDT$0.-0.19%86TheGraph GRT$0.1.00%87Arwee AR$9.34310.81%88CurveDAOToken CRV$0.1.90%89BTSEToken BTSE$2.77072.22%90CompoundEther CETH$25.902.17%91MinaProtocol MINA$0.2.39%922EthereumPoW ETHW$4.03273.82%93TetherGold XAUT$1,742.920.75%942CompoundDai CDAI$0.-0.20%95THORChain RUNE$1.38733.21%96MBCash MBCASH$56.121.16%973RocketPool RPL$20.572.42%981MaskNetwork MASK$3.8738-0.77%991Nexo NEXO$0.0.74%1001EthereumNameService ENS$14.320.83%FirstPrev1234...118NextLastAdvertiseHereFrequentlyAskedQuestionsWhatiscryptomarketcap?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,itsignalsthatthepricepercoinislow,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-timehighisjustover$3trillion($3,149,435,050,780USD).ThemarketreachedthislevelonNovember8,2021.HowcanIcalculateacryptocurrency’smarketcap?Cryptomarketcapiscalculatedthesamewayasstockmarketcap,bymultiplyingthecirculatingsupplyofanassetbyitspriceinfiatcurrency(e.g.USD,EUR,JPY).Thecalculationgetstrickierwhenanassetistradedainstanotherasset.Inacryptopair–let’ssayEthereum/BitcoinorETH/BTC–togetthepriceofETH,wewouldfirstdenominateBTCinfiat.Inordertounderstandmarketcap,it’simportanttoconsideritsconstituentparts–priceandcirculatingsupply.Pricedependsonwhomakesthecalculation.Thegeneralpriceiscalculatedasacompositeofspotpricesusedoncryptoexchanges.Forindexfunds,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$1trillion.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.Nomicslistscryptocurrencieswithmarketcapsaslowasafewhundreddollars.However,youshouldoidchoosinganinvestmentbymarketcapalone.Consideradditionalfactorssuchasrecentpricechanges,tradingvolume,circulatingsupply,andtransparentvolume,afeatureuniquetoNomicsthatshowsthepercenteoftradingvolumethatoccursonreputablecryptocurrencyexchanges.Formoreontransparentvolume,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.ThepriceofacryptocurrencyisusuallycalculatedasanereofthespotpriceatwhichtheinstrumenNomics: Crypto Market Caps - Preços, Altos Altos, Gráficosttradesonleadingexchanges.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,1STwastheworld’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:Security–Largernetworksrequireconsensusfrommorenodes,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,hassaidthatheseescryptocurrenciessurpassingamarketcapof$200trillion.VitalikButerin,co-founderofEthereum(ETH),believestherex27;sroomforgrowth,butthatit’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.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.Buthowmightacoinwithlowtradingvolumegetahighmarketcap?Itoftenoccurswhenacryptocurrency’ssupplyishigh,buttherearen’tmanycoinsincirculation.Thiscouldbeduetolong-termHODLerswhoaren’tactivelybuyingandselling.Adisadvanteofinvestinginlow-volumecryptoassetsistheirinabilitytosupportbigtrades.Asingletradecouldmovealow-volumecryptocurrencysignificantly.Thismakessuchassetsunattractivetolargeinvestorswhowouldstruggletoexecutemajortradeswithoutexperiencingslippe.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,itcanworkinmoredevelopedmarketsasweNomics: Crypto Market Caps - Preços, Altos Altos, Gráficosll.Tolearnmoreaboutpump-and-dumpschemesandtheirapplicationtothecryptocurrencyworld,seethiscomprehensivestudy.4.FakerecommendationsandmisinformationManyprojectspayreviewsitesforpositivereviewsandrecommendations.Anunsuspectingaudiencecanbeeasilymanipulated.Thedisseminationoffalseinformationoftenhappensduring“pumping”phaseswhenthecommunitybehindaprojectendeorstoattractasmanyinvestorsaspossible.Totrickothersintobuyingtheircoin,acommunitymighttryfakenewsstories,fakepartnerships,orevenforgedendorsementsfromprominentpublicfigures.Forexample,agroupcreatedafakeTwitteraccountthatresembledonebelongingtothelateJohnMcAfee.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?Thetotalcryptomarketcapisthesumofthemarketcapsofallactivelytradedcryptocurrencies.Tofindthetotalcryptocurrencymarketcap,visitNomics.com,andlookfortheGlobalMarketCapcard.Itx27;satthetopofthepe,rightunderthetitleTopCryptocurrenciesbyMarketCap.WhichcryptocurrencyshouldIbuy?Thisisacommonquestionandanunderstandableonegiventhattherearethousandsofactivelytradedcryptocurrencies.Thevarietyofinvestmentopportunitiescanresultinanalysisparalysis.Youshouldchooseprojectswithhistory,acleargoal,transparentvolume,anactivecommunity,andongoingdevelopment.Thesecharacteristicsindicateahealthyprojectwithpotential.It’salsoimportanttoconsideryourrisktolerance.Youcouldchooseaprojectthatisalreadylistedandactivelytraded,suchasBitcoin(BTC)orEthereum(ETH),oryoucouldgowithahigh-risk,high-rewardICO.Let’sstartwithlistedandactivelytradedcryptocurrencies.Thesecurrenciesareoftenregardedasmoresecurethannewprojects.Theyhetrackrecordsandenoughtradingvolumetobeconsideredliquid.Ifyouchoosetoinvestinaleadingcoin,followthenewsforregulatorydevelopments,policiesthatmayeaseorpreventmainstreamadoption,andindustryshifts.Ifyouhetheskills,youcanalsoincludetechnicalanalysis.Thatway,you’llheawell-roundedstrategythatminimizesrisk.WhetheryourgoalistoHODLforyearsortospeculateonshort-termpricefluctuations,establishedcryptoassetscanbeanexcellentchoice.ThenthereareinvestorswhodreamofdiscoveringthenextBitcoinorEthereum.Thesefolkstendtolookatpre-launchprojectsandICOswithhighgrowthpotential.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.LookforprojectsthatseektoaddfunctionaNomics: Crypto Market Caps - Preços, Altos Altos, Gráficoslity,accelerateprocesses,orotherwiseaddressaspecificpainpoint.Cryptoassetprojectswithclearlydefinedgoalsarethemostlikelytogeneratelong-termvalue.It’salsoimportanttoconsiderthetechnologythatpowersaproject.Launchingatokenrequiresablockchain.ManyofferingslaunchonEthereum(ETH)orBinanceSmartChain(BNB).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”,orνόμος(nómos,“law”).Ithaslongbeenusedincombinationwithotherwordstoformtermsthatdescribethelawsorrulesofadiscipline(e.g.Reanomics,ergonomics,genomics).HowdoIlistacryptoassetonNomics.com?Justfilloutthetypeform.AdvertiseHereMadewith❤inMinnesotaandMassachusettsMarketActivityAssetsExchangesCurrencyConverterWatchlistProductsAdvertisePricingMarketDataAPIWhiteLabelAPIforExchangesServicesContactSalesFeatureRequestStatusPeProductUpdatesResourcesAPIDocsBlogNewsletterForumsExchangeIntegrationVerifiedExchangeProgramMarketDataQuizNomicsx27;WebinarWebinarArchiveCompanyAboutManifestoCareersContactContactUsAPIKey©2022Nomics™|AllRightsReservedUpdatetrackingpreferencesTerms|Privacy

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