Dead POW Coin with $222 Million Dollar Market Cap

Hope it is okay to talk about this here. I think it is relevant because it shows that market cap isn't everything.

Anyway, I was investigating old POW coins and discovered a coin with huge discrepancy between market cap and liquidity. Usually when liquidity dries up, price and market cap plummets.

Mooncoin has around 230 Billion with a market cap of $222 million. Yet it only has two exchanges. Coingecko doesn't even list it. CMC shows next to nothing about it.

The first exchange is Finexbox which is a scam exchange. Even that only has just over $60 liquidity on sells before zero price is reached.

The second exchange is Cointopay with a total sell depth of just under 94 Dogecoin or about $40.

This is it. You could own 1% of all the Mooncoin (supposedly worth $2.22 million), but would be unable to get more than $100 selling any portion of it.

I have seen much healthier coins with market caps under a $million.

I find this situation fascinating and would appreciate any observations on this coin or similar POW coins (I have zero interest in tokens) that are in a similar situation.

submitted by /u/jaimewarlock to r/btc
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Quelle: bitcoin-en