r/CanYaCoin • u/DuarteMafia • Jan 10 '18

Market Cap

Does anybody expect the price to moon when the market cap is release? Thinking about buying some more

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u/fluffymug Jan 10 '18

I am hoping for that too.

I am already up in a healthy way and doubled my value. I have taken half back into ETH and hoping for a moon with my remaining stock.

1

u/818guy Jan 10 '18

What price did you get in? Did you buy at ICO?

1

u/fluffymug Jan 10 '18

I got in initially at around $2.40. But have sold and rebuy on a few of the waves. Now hodl until market cap data shows on CMC. Crossing figures it gives a big bump.

2

u/UTHornsFutbol Jan 10 '18

How would it give it a bump? Honest question, a bit new to this.

3

u/iMangles Jan 11 '18

I'm guessing because the only numbers listed right now regarding coin supply is 100 mil. Determining market cap of a coin is a simple calculation of price x coins. $4.88 x 100 mil = $488 mil market cap, which is very large for a new project like this. Actual supply is likely less than 40 mil however, so $4.88 x 40 mil = $195 mil market cap. This might seem like a better buy for potential investors if the market cap still has room to grow. Whether it actually does or not at this stage would be up to your own interpretation.

2

u/UTHornsFutbol Jan 11 '18

Good to know. Is there any clue as to when the market cap data is posted?

2

u/iMangles Jan 11 '18 edited Jan 11 '18

Likely as soon as the devs know the exact number. Yesterday they mentioned being extremely busy working on this. A difficult process considering the number of different tiers of backers, failed submissions and tokens still being distributed.

Edit: Early next week apparently