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by seniorsassycat
1660 days ago
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The blockchain tracks bitcoin transactions not USD. The USD price of Bitcoin can change without any on chain transactions. Market cap is last price times total supply. Only a few coins are sold each day compared to the total supply so changes in price have a magnified affect on market cap. For example a blockchain has 10 coins and a fixed price initial sale at 1$ per coin. All coins are sold so the market cap is 10$ which refects the total money sunk into the coin. But now someone sells their coin for 2$. The market cap is now 20$ but only 11$ we're spent on the coins. |
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