Market cap in crypto is the biggest joke i've heard. It's a false representation of the true value to a coin and gives those outsiders hope that something big is on the other side. Value should be based upon liquidity and distribution of the currency.

With a first sale on an exchange in any crypto the "market cap" is set based upon price of trade multiples by the distribution of currency. This is a horrible way to represent the value that backs the currency as it instantly creates a unrealistic monetary value. The longer people believe the system of coinmarketcap is true the more will have legitamate legs to stand on, so sad as many will be taken advantage of.

long time lurker of this community and happy to join this discussion,

-T