New indications might point to the possibility of a bull market in the near future as Bitcoin has just added a new feather to its hat. The Bitcoin network, according to information from Coinmetrics.io, hit a realized market cap above $100 billion for the first time ever.
The realized market cap, a near-substitute to the regular market capitalization, is calculated by a multiplication of the price of each last transacted Bitcoin, by the size of the trade. This new milestone adds more credence to the Bitcoin network which not long ago, recorded an all time high in both hash rate and general volume of trades.
According to data from CoinMarketCap, Bitcoin’s current market dominance sits at 68.9%. However, a recent research has shown that this number might be as high as 90% if it is calculated using realized market cap and not the regular market capitalization. Arcane Research opined that market capitalization might be an inadequate mode of measurement. According to them:
“One might be able to sell one token for 3 dollars, but what happens if you want to sell 1 million? Without accounting for liquidity, market capitalization becomes a meaningless measure.”
The research firm conducted the study using two major sets of data. The first was from CoinMarketCap with the other from Bitwise Asset Management, a firm which purports to hold proper records of traded crypto volumes, without any wash trading or manipulation.
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