The true value of the crypto market isn’t what its believers suggest, but it’s nothing to sneer at, either.
It was a $2 trillion wipeout, or so they say. The still-unfolding crypto winter, which leveled an entire blockchain’s ecosystem, a large hedge fund, a couple of crypto lenders, and an untold number of retail investors, sent crypto’s total market capitalization plummeting to about $1 trillion, from roughly $3 trillion at its peak in November.
Seeing that number made me wonder if market cap—which is just the number of tokens multiplied by each one’s latest price—is a good way to measure the overall size of the industry. Also, given that a vast number of coins have simply vanished and that plenty of projects produced worthless tokens, does market cap really tell us anything about crypto’s economic value?
Central to the market-cap conundrum is that some users sell crypto assets to themselves over and over—this is called “wash trading”—creating the illusion that money changes hands...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...