The Wolf Den #150 - Market Cap Is Heavily Weighted
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This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!This is the 150th issue of the Wolf Den. That is CRAZY! I have probably written a few novels by now. Thank you all for reading and subscribing!Fun Fact: The Total Market Cap In Crypto Isn't Evenly DistributedThe total market cap for the entire cryptocurrency ecosystem has just exceeded 900 billion - it Is currently at 930 billion to be exact. Of the 930 billion, 69% is concentrated in Bitcoin. It currently boasts a market cap of 644 billion.At first glance into the crypto market, learning that there are over 5,500 different coins may lead someone to reasonably believe that the market cap is somewhat spread out across the industry, which is actually the opposite of the truth. 83% of the entire market is presented by Bitcoin and Ethereum. When you add up the top 10 crypto market caps, you will find that about 90% of the entire crypto ecosystem lives at the top of the food chain - the wealth is clearly not evenly distributed.Investors should consider this fact when they are weighing the risk-reward of different assets. Many below the top 50 are irrelevant, while many below the top 100 can be effectively worthless. A majority of these coins merely exist because of a small, passionate community or because someone had an idea that largely failed. Institutional money has only found its way to Bitcoin, and Ethereum to a smaller extent. The rest of the market is just a retail bet.If and when there is a massive culling within the crypto space similar to the dot-com bust, flushing out 5,000 of the 5,500 cryptos won’t make much of a dent in the overall market cap. Even if that money were to pour into Bitcoin, it wouldn't be significant. The takeaway here is that the majority of cryptocurrencies are very much irrelevant and probably worthless in the long term.Today is the chart request live stream on YouTube - at 2PM EST! Submit requests by 1 PM EST by responding to this email... one per person, please.Here is the link:https://www.youtube.com/watch?v=7eKkgoB5wSc&feature=youtu.beIn This Issue:Bitcoin And Ethereum Analysis From IntoTheBlockAltcoin ChartsBitcoin Thoughts And AnalysisAltcoin ChartsMajor Investor Is Suing RippleGrayscale’s Large Cap Crypto Fund Removed XRPCrypto Investors Can Potentially Mark “No” On Tax ReturnPhemex Crypto Talk TomorrowMy Recommended Platforms And Tools
The Wolf Den #150 - Market Cap Is Heavily Weighted
The Wolf Den #150 - Market Cap Is Heavily…
The Wolf Den #150 - Market Cap Is Heavily Weighted
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!This is the 150th issue of the Wolf Den. That is CRAZY! I have probably written a few novels by now. Thank you all for reading and subscribing!Fun Fact: The Total Market Cap In Crypto Isn't Evenly DistributedThe total market cap for the entire cryptocurrency ecosystem has just exceeded 900 billion - it Is currently at 930 billion to be exact. Of the 930 billion, 69% is concentrated in Bitcoin. It currently boasts a market cap of 644 billion.At first glance into the crypto market, learning that there are over 5,500 different coins may lead someone to reasonably believe that the market cap is somewhat spread out across the industry, which is actually the opposite of the truth. 83% of the entire market is presented by Bitcoin and Ethereum. When you add up the top 10 crypto market caps, you will find that about 90% of the entire crypto ecosystem lives at the top of the food chain - the wealth is clearly not evenly distributed.Investors should consider this fact when they are weighing the risk-reward of different assets. Many below the top 50 are irrelevant, while many below the top 100 can be effectively worthless. A majority of these coins merely exist because of a small, passionate community or because someone had an idea that largely failed. Institutional money has only found its way to Bitcoin, and Ethereum to a smaller extent. The rest of the market is just a retail bet.If and when there is a massive culling within the crypto space similar to the dot-com bust, flushing out 5,000 of the 5,500 cryptos won’t make much of a dent in the overall market cap. Even if that money were to pour into Bitcoin, it wouldn't be significant. The takeaway here is that the majority of cryptocurrencies are very much irrelevant and probably worthless in the long term.Today is the chart request live stream on YouTube - at 2PM EST! Submit requests by 1 PM EST by responding to this email... one per person, please.Here is the link:https://www.youtube.com/watch?v=7eKkgoB5wSc&feature=youtu.beIn This Issue:Bitcoin And Ethereum Analysis From IntoTheBlockAltcoin ChartsBitcoin Thoughts And AnalysisAltcoin ChartsMajor Investor Is Suing RippleGrayscale’s Large Cap Crypto Fund Removed XRPCrypto Investors Can Potentially Mark “No” On Tax ReturnPhemex Crypto Talk TomorrowMy Recommended Platforms And Tools