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According to CoinMarketCap, the two largest virtual currencies on the market are currently Bitcoin (BTC) and XRP. Bitcoin has a market capitalization of $ 69.58 billion and $ 14.37 billion of XRP.
However, there are some enthusiasts of cryptocurrency and XRP who believe that CoinMarketCap is not properly measuring the market capitalization of virtual currencies. If we took into account the total supply of coins, XRP would have a market capitalization of $ 35 billion, while Bitcoin would have a market capitalization of $ 67.5 billion.
At the same time, when XRP reached its all-time high at the start of the year, its market capitalization would have been greater than that of Bitcoin.
What a bunch of F *****! Wow! They screwed us @CoinMarketCap ! Jesus what a horrible thing to do at XRP! They are responsible for manipulating the price and for many people who lose money … #SEC_News @SEC_News look at this!
– My XRP (@ MyXrp589) November 29, 2018
That is why the official CoinMarketCap account has informed them that their definition of market capitalization is different from that of Yahoo Finance. However, the company said that it is possible to verify the market capitalization of virtual currencies following the definition of Yahoo.
Hi, please understand that the definition of capital market of CoinMarketCap and Yahoo Finance is different. However, if you want to see the coins based on market capitalization using the total offer, see https://t.co/6qhiRek8zH Thank you.
– CoinMarketCap (@CoinMarketCap) November 29, 2018
This situation has led to several theories related to the fact that CoinMarketCap and similar sites are trying to keep the XRP token low. These people also believe that these sites exclude the price that XRP has in the South Korean markets. In these exchanges, XRP could be traded at a higher price than other global stock exchanges.
However, it is important to remember that an important number of XRP tokens is blocked in the effort. This must also be taken into consideration because these coins are not currently available to the general public and are not traded on the market. If these tokens are released, the market would be clearly affected. The XRP price would be clearly accumulated if half or all of these coins were suddenly marketed on the market.
At the same time, Bitcoin's market capitalization could also be reduced. CoinMarketCap takes into consideration the coins held by Satoshi Nakamoto and has never moved and even the millions of Bitcoin coins lost. Bitcoin could have a market capitalization of $ 45 billion taking these things into account.
It is always important to have an analytical point of view when reading and understanding these numbers. CoinMarketCap does not provide the best way to measure the value of a currency, but helps to understand the market in a better way.
There are other metrics and things that can play an important role in understanding the use and evaluation of a virtual currency. We could also include the number of active portfolios in a network or the funds traded in 24 hours.
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