Revolut added some additional stats about different crypto tokens to help users better understand each of the projects that the company currently support.
„For each token we list, you will now be able to see: market cap, circulating supply, max supply, 24-hour trading volume, and popularity on Revolut,” according to a company blog post.
Here’s the low-down on what each term means.
Within the crypto industry, market capitalisation (or market cap) refers to a metric that measures the relative size of a particular crypto asset. Market cap is calculated by multiplying the current market price of an asset with the total number of coins currently in circulation.
Currently, Bitcoin’s market cap is $1tr, while other coins like Ethereum and ‘meme coin’ Dogecoin sit at around $285bn and $34bn respectively.
For context, Apple has a market cap of more than $2.2tr, Google well over $1.5tr and Facebook comes in behind Bitcoin with a market cap of just under $860bn.
The term circulating supply refers to the number of cryptocurrency coins or tokens that are publicly available and circulating in the market. The circulating supply of a cryptocurrency can increase or decrease over time. The circulating supply refers to the coins that are accessible to the public and should not be confused with max supply. The max supply quantifies the maximum amount of coins that will ever exist, including the coins that will be mined or made available in the future.
The maximum supply (max supply) of a crypto asset refers to the maximum number of coins or tokens that will ever be created. Once a maximum supply is reached, there will not be any other coins mined, minted, or produced in any other way. Some crypto assets do not have a predefined maximum supply, meaning they can be mined or minted continuously. For example, Ethereum’s supply is constantly increasing and does not have a maximum supply.
24-hour trading volume represents the total amount of a crypto asset that has changed hands over the past 24 hours. Revolut use trading volume data from other exchanges aside from just Revolut.
Measures how popular a particular crypto asset is among Revolut users, based on the number of people who are currently holding that particular asset.
The moves comes after its users have revelled in crypto trading over the lockdown, with an AltFi investigation found that Revolut could potentially be sitting on a pile of crypto worth around $1bn.
Unlike other crypto wallets, Revolut’s users can’t actually remove their purchased coins from the Revolut app, rather they are held “in cold storage with some of the best custodians in the crypto game.”
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