Maybe this has been here a long time already and I have missed it in total over the last period of time, or maybe this is a new feature implemented in the coinmarketcap stats. Either way, I really like it.
When you open Coinmarketcap and you hoover over the area with the arrow which I have highlighted, you can see the total supply of this coin, and how many have been minted and printed as yet. More important than anything in the world!
So why is this so important then?
Well, that is all a matter of demand and supply. If there is a lot of demand, we need a lot of supply. But when the supply isn't that big, the product is scarce. Scarce means people will pay more to have it, because it is not around that much.
The other way around is inflation. If there is too much supply and not enough demand, it will decrease in value. This is what is currently happening to the US dollar. It is printed by the second, which will make it less strong in the end.
So what do we see when we look at the BTC supply?
So deep in my heart I was entirely aware of this that so many of all BTC has been mined and circulating already. But when you see this in a little line, for some reason it gets so much clearer and you understand why people want to have this.
YFI
Another example of where you see this so good is at Yearn Finance. This coin has been booming since the summer, and when you look at the supply you can understand this. The supply is only 30.000 pieces and nearly all of them are given out. If people have a little bit of faith in a coin, then it is easy to see why people would want to have it (left aside is the usability of this coin), and why there was such a strong price surge.
Supply is just really something important which to me wasn't always the clearest to be found. Coinmarketcap made this way more easier to see, and I think this is a gigantic improvement. Happy trading guys!
Do I really need to mention stuff about doing your own research? Total supply is just another indicator, but means nothing if a coin is useless. Do your own research and make your own choices. Don't rely on other people enthusiasm, lambos and coin shilling
Posted Using LeoFinance Beta
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