The Chinese meme coin “牛逼” launched on BSC. Two hours in, its market cap was $5.13 million and its trading volume was $8.3 million.
The market cap figure changed three times in half an hour: BlockBeats reported $5.13 million, ChainCatcher reported $5.46 million and said it had risen more than 51.3% in the past hour, and Odaily reported $6.46 million. For the same coin and the same set of GMGN data, the reading went from the 5-million range to the 6-million range. It was the market cap that rose, not the trading volume.
Trading volume remained at $8.3 million.
Market cap is the price multiplied by the total supply; trading volume is the actual money changing hands. When the market cap jumps three times but trading volume doesn’t follow, it suggests little money has come in, while the coin’s paper value has already ballooned. The only news was a post by Elon Musk saying, “Chinese X is awesome,” and an interactive comment by Changpeng Zhao (CZ) under the post.
A post can move the price, but it can’t bring in trading volume.
#US plans to tighten data center regulation, potentially imposing new constraints on AI expansion
The market cap figure changed three times in half an hour: BlockBeats reported $5.13 million, ChainCatcher reported $5.46 million and said it had risen more than 51.3% in the past hour, and Odaily reported $6.46 million. For the same coin and the same set of GMGN data, the reading went from the 5-million range to the 6-million range. It was the market cap that rose, not the trading volume.
Trading volume remained at $8.3 million.
Market cap is the price multiplied by the total supply; trading volume is the actual money changing hands. When the market cap jumps three times but trading volume doesn’t follow, it suggests little money has come in, while the coin’s paper value has already ballooned. The only news was a post by Elon Musk saying, “Chinese X is awesome,” and an interactive comment by Changpeng Zhao (CZ) under the post.
A post can move the price, but it can’t bring in trading volume.
#US plans to tighten data center regulation, potentially imposing new constraints on AI expansion
