I was cheching the price of steem in coinmarketcap as usual and I found an interesting thing there.
The volume during 24 hours is more than the matketcap.
How it could be even possible ?
Look at this :
$158 million during 24 hours, but all the money invested in steem is $111 million.
Is that fake ?
I already shared once that coinmarketcap faked some numbers before. But I'm not sure that they are doing that with steem now.
Can you explain ? Maybe there something I don't know.
Could Justin doing something to pump the price and then after the the fork change the power down to 3 days or even one day and just earn profit from all this.
I see the price of steem more than doubled.
I posted about the same thing earlier today. I can only chock it up to one coin being traded so many times that even just the 25% of STEEM actually liquid right now can be traded enough times to be more than the entire market cap. Who would be doing all this trading? Well looks like Koreans are buying like crazy. 70% of the volume is in KRW.
Ah, I understand now. So, they count all the traded money from both sides. Maybe that's the reason. I thought they mean the money invested in the coin in that period of time.
good question and good answer! In stock lingo, I believe they call this 'turning the float'. This happens when the float (shares available to the market) is exeeded by the number of shares (coins) traded.
wao