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.
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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.