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by SpicyLemonZest
332 days ago
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"Market cap" as applied to cryptocurrency is a completely fake metric that exists only because it produces viral big numbers. Cryptocurrencies don't have a market capitalization, because they don't represent fractional ownership of any asset; there's absolutely no reason to think that multiplying the most recent price of 1 ETH by the notional supply of 120 million produces a good estimate of the Ethereum network's aggregate value. |
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