market cap is bullcrap bubble number.
i can make an altcoin with 5 trillion coins.
put just 1 coin onto an exchange sell it to myself for $1..
thus my coins are now valued at $1 a coin.
making the market cam $5 trillion.
now for the bubble bursting info that blow people minds they will not like to admit to.
1. there is not $29billion in FIAT sat in exchange bank accounts to 'back' the valuations of all the coins in existance.
2. the price of a coin can ba manipulated easily.
it does not take $16mill to raise the price of bitcoin by $1 to make the bitcoin market cap rise by $16m
infact many times i have seen the bitcoin price rise by $1 by trading very little. even if that very little actually spent made the bubble market cap jump by $16m
its time people started to get out their calculators and see reality