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
well not true, those altcoin have an actual volume that back their value it's not like there is only one buyer that bought once and they ended on coinmarketcap with that capitalization, what you say don't work
for bitcoin the same the real marketcap probably is way less than 20B because not all the 16M coins are on the market available to purchase, but all the exchange combined hold an amount of coin which is at least on the range of few millions
so there is a high chance that few Billions are in the exchange and in private trading that back up the bitcoin value