Re: [2013-03-19] Bitcoin’s Share of Total Crypto Market Slips Back Toward 50%
I can create a new token with a supply of 1 billion, sell a single token for $10, and decrease bitcoin's market dominance by 3% in the space of an hour. It means nothing.
This reminds of an absolute shitcoin that was listed on CMC for a short period of time till it got removed, likely for blatant manipulation. It had a market cap of $1.5 trillion with only $30k worth of daily volume. XRP is somewhat similar. They printed 100 billion coins out of nothing, where at current prices that means a $30 billion total market cap, and Ripple itself holds around 70% of everything. If this isn't a security, then the SEC is blind.
In the coming years Ripple will slowly gain access to the locked coins, which means that out of nothing, XRPs market cap increases with hundreds of millions. It's not even a blockchain.
