If Cardano goes to $76 that means it's roughly a 50X from $1.50. The market cap will be 2.5T. Bitcoin couldn't much further than 1T.
I think this is very very unlikely. Apple's current market cap is 2T and Google's is 1.5T.
Artaxxxxxx
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@JackParow the water line in the crypto space is about to be raised significantly. Not saying this is right. But Polkadot as example went on a huge tear. Cardanos smart contracts will be huge. And the Ether converter will most definitely expand its market cap. How high we will see.
AriasWave
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@JackParow, Hi JackParow, I do not know if I am allowed to share links to articles in the comments but DM me if you want the link. Here is a quote from this article. "The bottom line. Crypto assets with a low float and high total supply can game the system and make themselves look valuable. Market cap and changes in market cap are meaningless and deceiving."
AriasWave
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@JackParow, "Let’s say I create a token with a 10 billion supply, I develop a simple ERC20 contract and deploy it on Ethereum, and on an exchange. I then convince my friend to buy one of these tokens for $1. Boom there you have it. A token with a $10 billion market cap. Congratulations to me! I have now created a promising new project that has received lots of investment.
As you can see, this is all absolute rubbish. It doesn’t mean $10 billion was invested in my token, and it in no way helps in understanding its value. Market cap only serves to obscure and create a false sense of value when actually it’s just a multiplication of the last transaction price by the circulating supply."
@AriasWave, Ummm, I don't think it's the last transaction that's multiplied against circulating supply, but the current market price. What you described doesn't make any sense.
AriasWave
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@goldengramz86, I put a link to the article on my website. If you cannot make sense of it, there is not much I can do about that. Besides I don't even use market cap as part of my analysis, I am just trying to get a point across. I think you should take a look.
Gee_Luva
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@goldengramz86, last transaction PRICE, not last transaction.