Looking at CoinGecko (@coingecko, https://www.coingecko.com/en) we can see Steem at position 61 with a market cap of $58m.
This is based on a circulating supply of 346,180,878 and a price of around $0.1670.
Generating the same figures for Hive we have a circulating supply of 345,978,640 (https://hiveblockexplorer.com) and a price of around $0.2544 (Bittrex).
This gives a market cap of $88.0m.
Currently that slots us in at position 49!
These things are always subject to change. But that's an encouraging start!
Do you know why these sites do not have a value for circulating supply so we can come up with a market cap?
I'm assuming these things just have to work their way through the system.
But @coingecko should be able to give a better answer.
@tipu curate :)
Upvoted 👌 (Mana: 5/10)
Great observation and good question!
As with any other coins, we take the decision to place market capitalization of a coin very seriously. Since CoinGecko.com ranks a coin based on market cap, we have to be responsible when placing market caps as it affects the ranking and visibility of a coin, thus making this metric predominantly vulnerable to manipulation by parties seeking to game our ranks.
At the very least, having a market cap assumes a coin is relatively easy to acquire and trade in multiple markets with significant liquidity... among other metrics.
At this point in time, Hive just hasn't met that liquidity requirement relative to the implied market cap due to how new this chain is.
That being said, this is very subject to change. We continually monitor the trading activity of Hive and other promising cryptocurrencies for when they've met the requirement for a market cap.
Very good points. Agree 100%.