Here's a quick market cap comparison of three different crypto projects seeking to produce efficient decentralized cloud storages through the use of blockchain technology.
Siacoin - $0.014
Market Cap - $464,562,514
Circulating Supply - 33,030,623,997 SC
Siacoin: "Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers." - https://sia.tech/
Storj - $0.976174
Market Cap - $130,246,497
Circulating Supply - 133,425,493 STORJ
Storj: "We're building the next generation of decentralized object storage, end-to-end encrypted, where only you have access to your data. Powered by Blockchain payments." - https://storj.io/
INXT - $9.00
Market Cap - $5,664,767
Circulating Supply - 629,610 INXT
INXT: "A new wave of internet services powered by decentralized technology. Secure digital life without the complications." - https://internxt.io/
The overall market cap for all three projects comes out to be $600 million. Clearly, there is plenty of value in decentralized cloud storage platforms since they are, and/or will be a cheaper and safer option compared to other traditional cloud storage platforms such as AWS. It will be interesting to see which platform becomes the most innovative using decentralized technologies.
I personally find INXT to stand out the most since it's market cap is significantly less than the two leading players, which shows INXT hasn’t had much exposure to a wider audience of investors compared to both Sia or Storj.
Let's talk demand. The value of any crypto token is based on the supply in circulation. This is how you are able to determine the demand of any token since its supply is fixed or in other words, scarce.
Now let's run the math, in order to calculate the price of a token you must divide the market cap with the circulating supply. I'll use INXT as an example.
$5,664,767 (INXTs current market cap) ÷ 629,610 INXT = $8.99 per INXT token
Now let's run a hypothetical. Say INXTs market cap reached that of Storj, or even Sia?
$130,582,729 (Storjs current market cap) ÷ 629,610 INXT = $207.40 per INXT token
$467,006,780 (Sias current market cap) ÷ 629,610 INXT = $741.73 Per INXT token
As you can see, the market cap for INXT still remains well below both Storj and Sia meaning INXT still has plenty of room to grow. Personally, I wouldn’t be surprised to see it grow by a significant margin considering what they have to offer. Not only do they have a focus on creating an easy-to-use decentralized cloud storage platform, but they also aim to decentralize the internet.
Please do not take this as investment advice. I am by no means a financial advisor. I would HIGHLY suggest that you do thorough research before making any investments. Protect your capital!
