market cap is a meaningless number
i can create an alt tomorrow with 5trill coins.. get just 1 coin on an exchange and sell it to myself for $1.. and instantly my alt is market capped at $5trillion...
there are NOT $25billion fiat sitting around in bank accounts ear-marked to back the entire cryptocoin market.
anyone can make the market cap spiral up to trillions just by using small numbers.
Yes....That's an accurate observation. In cases such as the one you described, the volume of trade needs to be factored into the speculation when considering marketcap. However, wise traders pay attention to volume. If you look more closely, you will find that some of the alts have huge volumes, and according to the charts, those which do have large volumes of trade are on the top, right?
until you take away the bot trading by 2 people every few seconds
10btc traded by 2 bots can equal thousands of "volume" a day just playing tennis with 10btc back and forth
yep 100k volume does not mean 10,000 separate coins were bought or sold.
it means maybe
10btc played tennis back and forth 1000 times
meaning even volume doesnt represent real transaction desires, or even show how much actual different coins changed hands
Is market cap not the Current value of bitcoins in circulation X Current price of bitcoins???
Is it just "Volume" that you are saying??? Because if these numbers are baseless, then what is the base that should be used to calculate the actual worth of Bitcoins' cap???