Re: [ANN] Ravencoin [RVN] PoW GPU Mining | Asset Transfer Blockchain (Updated ANN)
RVN is now out of the TOP 100. Damm.
that doesn't mean anything nowadays and personally I think it doesn't mean at all just look how many bad coins are in top 100 and how many good outside?
many coins are in top 100 just because huge supply ...just for example
Those are top coins by circulating supply and ...I wouldn't exchange 1$worth RVN even for 10$ worth of any of these coin in terms of holding them and possibilities of future development, growth, capabilities etc (just look at 24h volume...)
To be honest coinmarketcap ranking doesn't mean a lot just because its only about one thing ---> Market Cap excluding all the rest
True... the volume is also important because a coin could stay very high if it has not been traded (in theory) since January's peak. So I made a test with interesting results!
I took for example a random coin named "Waltonchain", an unknown coin with rank 76 by market cap which caught my eye because of the very high volume ($2,321,001).
I checked the coin's markets (https://coinmarketcap.com/currencies/waltonchain/#markets) and I noticed that most of the volume comes from an unknown exchange named "Allbit".
So I visited the exchange's page (https://allbit.com/exchange/WTC) and as it was obvious the coin is traded very thinly and most likely by bots; within 24hours, 8000 coins are repeatingly changing hands at the same price.
Even that fake trading is producing a volume of 8,324$, not 1,000,000$ as reported my CMC!
So yea... just ignore market cap.
Personally I use https://coinlib.io and I have "starred" the coins which I care about and I know that are doing real progress. Then there's an option to see the order by market cap of the starred coins as well as their newsfeed from various media sources.