Liquidity

Here's a post I wrote back on March 30 about liquidity and why market capitalization is a terrible metric for project value.

Just look at Steem Engine. A coin could be trading for $1 but the creator pre-mined millions of them. If they tried to dump on the market the coin value would get close to 0 very quickly.

It's very interesting to consider that Bitcoin might have 90% dominance. That's pretty massive.