Market Cap just dropped to 280 Million
Now only 7 Billion coins in circulation.
Can anyone enLUMENate me on what is going on?
Sounds like now only the distributed coins are counting as part of the market cap. it's on the dot in terms of proportionality
These are the coins that werent distributed right?
Idk coinmarketcap is using the wrong number all the sudden. They should be pulling from: https://dashboard.stellar.org/api/lumens
Thanks Jed I will forward the message
minutes later...
Looks like everything is back to normal now. hmmm,
https://www.reddit.com/r/Stellar/comments/7db965/what_happened_to_stellars_market_cap_on/
in it is the following answer:
''coinmarketcap switched to the endpoint serving old data (https://www.stellar.org/stats). We notified them about this a few hours ago and in a meantime we updated the old endpoint to serve latest data (from https://dashboard.stellar.org/api/lumens).
Now waiting for them to update the endpoint or just refresh data.''
This is how I saw it assuming availableCoins = distributedCoins + non distributedCoins
{
"updatedAt": "2017-11-16T19:00:48.133Z",
"totalCoins": "103432382849.3777658",
"availableCoins": "17715175895.6061079",
"distributedCoins": "8117709486.8111042",
"programs": {
"directProgram": "4803299717.1535469",
"bitcoinProgram": "2037756769.6575473",
"partnershipProgram": "1126666667.00001",
"buildChallenge": "149986333"
}
}
"availableCoins": "17715175895.6061079",
"distributedCoins": "8117709486.8111042",
If my hunch is right this should give the market cap before the coins ''disappeared:
(availableCoins/distributedCoins)*CurrentMarketCap = previousMarketCap
(17715175895.6061079/8117709486.8111042)*281860000 = 615099553.14957026804300450514979
615 Million
that's like on the dot to what the market cap was.
I was on cryptocompare.com when I saw the new cap, I pressed F5 to refresh the web page and it went back to normal cap. Then a few minutes later it came back down but pressing F5 didn't do anything anymore since then
