Let me introduce to you: UNUS SED LEO - Bitfinex's exchange token listed as the #21 biggest coin when it comes to market cap.
This is an exhibit why market caps are indeed a bullshit metric that can easily fool new comers and old timers alike.
"LEO" sees around $100k trading volume per day. $50k on Bitfinex and $50k on other semi-legit CEX at a valuation of $4B.
This means by market cap it is ranked before serious projects like Stellar, Uniswap or Monero.
I don't know what is more ridiculous. That CMC/Binance are even listing this (next to other CEX tokens) or that Bifinex can not maintain a proper wash trading bot.
Daily legit volume compared to the market cap should give you some indication about the liquidity of a token. And LEO simply plays in another league.
- USDT 1:20
- BTC 1: 100
- ETH 1: 100
- XMR 1:100
CEX token
- OKB 1:100 (99% on mother CEX)
- BNB 1: 120 (97% on mother CEX)
- LEO 1: 38.000 (50% on mother CEX)
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