What Is Market Cap?

There's no actual market cap for any of the crypto tokens, and that's just interesting to think about. We can't even agree what the price was two years ago because there were so many venues trading Bitcoin. For momentum to have a persistent edge over the benchmark, which was Bitcoin, you need 50 basis point trading costs. The T costs like 50 dips might sound like a like you could drive a truck through that in traditional finance.

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