Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. Today I will discuss a topic. The topic is how you can compare any random coin to another coin from the cryptomarket.
For ease of understanding, I took Synthetix's SNX or Bitget token's BGB. Suppose you want to compare between these two but it is not possible to compare between these two. The reason is that these currencies have completely different sectors and different types of products. On the other hand, it is not possible to compare flow with them. The reason is that there is an addressable market cap in the market. If you have a good idea about the crypto market, you can check how high a crypto coin can go. To understand this, we need to know how the addressable market works.
Addressable market is how much a random thing or random service can expand. I give the example of MOJO (cold drink) here. Suppose there are 1 crore people in Dhaka and each person holds one MOJO, then 1 crore should be sold or 1 crore is the daily addressable market. But not everyone will eat a MOJO every day. Some people will eat less, some people will eat more, and many will not eat, but addressable market is used for calculation convenience. But now we will discuss this within the cryptomarket. I will explain this with a famous example of the crypto market, the example is whether the price of Shiba inu will go to one dollar? The current market cap of Shiba Inu is 14.19 billion dollars and the total supply is 590 trillion. Although in the past this amount was 1000 trillion but now it has been increased from 1000 trillion to 590 trillion. Just think if Shiba Inu's price goes to one dollar, no exchange or crypto market can take such a huge pressure to make Shiba Inu's market cap 590 trillion dollars. Through all these contents it is understood that Shiba inu coin cannot be compared with any other crypto coin. For all these reasons, I said at the beginning that in the crypto market you should compare two coins that have similarities so that you can easily understand which coin to invest in.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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Upvoted! Thank you for supporting witness @jswit.
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We should actually be able to know the difference between two different coin actually..you have said it right
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