Have you ever heard of ‘ucash’? It is a coin which lies among the top 25 cryptocurrencies of the world. This stat is configured on the basis of the market cap of ucash which is even higher than that of Stratis, omisego and zcash. But if we talk about the reality, ucash is just an outliner. It is nothing but still is at the top only because of a high market cap. This point strictly is a proof that one cannot judge the actual success and quality of the coin on the basis of its market cap.
If we see the current scenario, it is observed that the market capitalization is the only factor which is put into use to analyse the success of the cryptocurrency. Market cap is described as the total value of all the coins in circulation multiplied by their last traded price. It is originally a crude reckoner. But there are occasions where the outcomes generated on the basis of market cap are originally wrong. The perfect example of such a case is ucash.
But the matter of fact is that the gaming of any system or cryptocurrency is very easy to increase the market cap. The only thing required is creating a shitcoin with a worldwide supply of $150 Billion, listing them down on shit exchange and selling a coin at a price of $1. This has an instant effect on the overall market cap of the coin and its worth ultimately becomes higher than that of Bitcoin. The similar trick was used in last month to increase the market cap of ucash. And the outcome of this trick was that ucash entered the top 25 cryptocurrencies of the world.
The market cap of the cryptocurrencies though is an important criterion to evaluate the growth and ranking of a coin but it is not an appropriate one. One definitely cannot predict the ranking of a coin on the basis of market cap as in ucash the analysis and results might be entirely wrong.