I've been doing some posts about STEEM and it's value, looking at other cryptocurrencies and how they have been doing in comparison. In checking coinmarketcap.com I was scrolling through the other coins, and saw BitShares up at 41, while STEEM is 10 ranks lower at 51.
I was shocked. What is this madness?
BitShares has over 2 billion tokens out, while STEEM has over 300 million. STEEM is worth more, and having less tokens should make it more valuable, but not enough to beat BitShares or other's like XRP/Ripple at over 99 billion tokens that are worth less per token but have so much more that the market cap puts them higher.
I guess quantity does matter in the marketcap game, despite thinking less is better.
Bitcoin is highly regarded for having a limited supply which is much lower than others. Bitcoin and it's forks (Bitcoin Cash) have about 17 million coins. Other chains like DASH have 8 million, and ZCash at 5 million. So while having a low maximum amount of tokens means a limited supply, and potentially higher value, it's not necessarily the case. ZCash ahs 3 million less tokens out there, but is worht $10 less per coin compared to DASH.
Do you think cryptos with lower quantities are more valuable? Or does it not matter in the end?