XTZ doesn't appear as top market cap on Top Coin Fund or Coin Market Cap


#1

What does everyone think about XTZ futures not appearing on lists of top coins by market cap? e.g. Top Coin Fund or coinmarketcap.com (maybe they use the same data)

I understand that XTZ in earnest is not available yet, but there is a vibrant futures market on HitBTC, and if you were to estimate a market cap from the futures, it would be $2-4B ($4-8 x $232M / ~$0.40), easily putting the coin in the top 20.

I think it should be represented in some way. While it’s not honest to truly count it as a top coin (yet), it’s also not honest to hide it completely from these lists.


#2

Coinmarketcap can’t rank it on the listing because they don’t know the supply, its an IOU market not a futures market, even if they did know the supply of the IOU’s being traded I imagine it would be rather low.


#3

Good point @luke. With HITBTC, you are dealing with a capped volume proxy of demand. In fact is very similar to $GBTC. A proxy for the underlying asset, but not priced at true asset value. Once the main net goes live, we will have a price, and I will wager that it will show up on Top Coin Fund shortly thereafter.