Coin comparison
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. Today I will talk to you about a very important topic, the topic is that if you assume any random coin from the cryptomarket, the question is how high can these few go?
I have assumed Synthetix's SNX or Bitget token's BGB for comparison, but these two cannot be compared because their sectors are different and their products are of different types. Again, if I compare the flow with them, it will be completely different. Because there is a thing in the market which is called addressable market cap. It means if you have a good idea about the market then you can check it, how far a coin can go or how high it can go. Anyway, how to talk about this in details. You will find it and first of all predict which coin will go where.
Now we will talk about what is the addressable market? So addressable market means how much a product or a service can expand. Suppose I give the example of Coca-Cola. There are currently 180 million people in Bangladesh and if you take Coca-Cola per person, then there should be 180 million sales or 180 million. Daily addressable market but not everyone will eat a coke daily. Some people will eat less here and some people will eat more here but addressable market can be considered for calculation. But we are currently in the crypto market. I give a famous example. Shiba inu is one Will it go to dollar or Shiba inu will go to dollar. If you see the current market cap of Shiba inu is 18 billion dollars and their total coin number is around 590 trillion that is total supply. Although it was 1000 trillion but the rest have been destroyed. So now You think if the price of a shiba inu was one dollar then the market cap of shiba inu is 590 trillion dollars and with 590 trillion dollars you can buy the whole world's goods. If Shiba inu wants to go even one cent here, the market cap of Shiba inu coin will exceed a trillion dollars here, which you can say is quite impossible. It means that it is impossible to compare Shiba inu coin with any other coin. That is why I said at the beginning, two such Coins that have similarities should be compared so that you can easily understand which coin will go in which direction. This will make it easy to make a coin prediction.
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.
Nice explanation, I believe each coin has its unique nature and as such it may not always be possible to compare against the other, let's just research and invest in one we are most suitable with.