Total supply of a coin/token.. put everything aside...
Added 2020-08-22 00:40:03 +0000 UTCFriday, 8.21.2020
- The two run away trains, the two new defi cryptos, YFI and ZZZ, have made me laugh but also, I went down the rabbit hole looking at a crypto's total supply.
- When a total supply is so low such as YFI only has 30K coins available for purchase, it requires less trading dollars volume to move the price up (down).
- And ZZZ has a cool 100 coins for total supply. hahaha. I kidded with my friends that ZZZ probably was created by some drunken smart man. 100 coins available which is more rare than BTC (put aside all other factors such as if the coin has any longevity or not, etc). This coin was launched on Aug 13, 2020.
- There are strategic/business reasons why the founders chose certain total supply for their coin/token.
- The next time you research a coin, take 2 seconds and look at the company's max supply. This will give you an indication if that company requires a lot of trading dollars volume to move a needle or not.
- Sharder - total supply 350M. This puppy spikes 10%-25%, with less than $300K trading volume.
- Kusama - total supply 10M - had $15M trading volume in 24 hours
- RLC - total supply 87M. Had $10M trading volume in 24 hours
Let's look at some of the ones with a "heavy pant" hahaha.
- The beauty about a crypto that has billions of max supply available is we can have millions of them for cheap. π
- LINK - 1B total supply
- Theta - 1B total supply
- IOST - 21B total supply
- ZIL - 21B total supply
- DGB - 21B total supply
- XRP - 100B total supply. XRP had $2B-$3B for trading volume in August.
The take away of this post is, βmaybeβ we might want to add one or two βgood projectsβ with low total supply such as below 100M to our portfolios, so the coinβs price appreciates faster like YFI and ZZZ. π€£π.
Best,
SL369
