With the success of the LeoFinance token we are starting to see some movements for the other Hive Engine tokens as well. The prices can vary a lot and with the different supply for each of the tribes tokens it nice to have a look at the market cap.
I have made a post like this before Ranking The Hive Engine Tribes By Market Cap!, but there has been some movements in the last period. Also that one was more tribe focused, here we will take a broader look at all the Hive Engine tokens.
The market cap is a standard metric for ranking tokens. All the coins aggregators like coinmarketcap, coingecko etc. are doing it this way. The thing with the Hive Engine tokens is that they are extremely small, some of them can’t even be considered as a real project but more or less just playing around.
In a lot of the cases there is a large funder share. Because of this its challenging to determine the marketcap. Another extremely important metric is the trading volume. Hive Engine tokens are lagging behind here as well with very low trading volume and liquidity.
It is important to note that we are seeing some growth on Hive Engine as for the price of the tokens and in the liquidity as well. It is still far from managing some large volumes but in the past few moths there is an uptrend.
If we sort out the tokens by market cap on Hive Engine we will get this at the moment.
Not a lot of know tokens above. The main reason again, a lot of team tokens and no trading volume. Almost all the tokens above don’t have any trading volume or a volume in few dollars. The one exception on the list above is LEO and the SPORTS token, with SPORTS having a large amount of team tokens that inflate the market cap.
The Real Market Cap
To get the real market cap we will be doing the following:
- Adjust the supply of the tokens (exclude team tokens etc.)
- Calculate 30 days average prices
- Calculate the market cap from the adjusted supply and the average price
We will use price averages to estimate the market cap for the tokens. Because of the low volume and the high volatility, we can’t use just a momentary price for the tokens. We will be using 30 days average.
Tokens that we will be looking at are the following:
- LEO
- DEC
- SIM
- EPC
- BEE
- PAL
- BRO
- SPORTS
- SPT
- WEED
- STEM
- NEOXAG
- CTP
- LBI
These are some of the tokens that have volume and market cap. Overall having activities. They have been around for a year as well. There are some others than the above, but we will be looking into these for now.
Tokens Supply
As mentioned already in some cases there is a lot of team/projects tokens. This can offset the market cap by a lot. Also, there are burned tokens in the null account that need to be excluded.
Because of this we need to adjust the tokens supply.
Here is the table for the initial and adjusted supply.
| Token | Starting Supply | Adjusted Supply |
|---|---|---|
| LEO | 6,568,778 | 6,169,105 |
| DEC | 630,004,851 | 630,004,851 |
| SIM | 89,999,776 | 77,771,876 |
| EPC | 974,322,096 | 367,817,721 |
| BEE | 1,499,882 | 228,726 |
| PAL | 7,704,445 | 6,885,431 |
| BRO | 69,220 | 69,220 |
| SPORTS | 101,257,599,882 | 912,567,921 |
| SPT | 67,545,120 | 66,619,613 |
| WEED | 42,418,247 | 2,536,640 |
| STEM | 3,720,147 | 1,393,205 |
| NEOXAG | 35,287,026 | 26,896,152 |
| CTP | 2,706,304 | 2,366,789 |
| LBI | 250,000 | 212,577 |
All the tokens to null have been excluded from the adjusted supply. The team and projects tokens as well. For example, for SPORTS the first two accounts from the richlist are excluded https://leodex.io/richlist/SPORTS, and the null account.
Average Price
The price of these tokens can vary a lot. For this purpose, we will be calculating the average price for the last 30 days.
Here is the table:
| Token | 30 Days Average Price [HIVE] |
|---|---|
| LEO | 3.35 |
| DEC | 0.0066 |
| SIM | 0.0044 |
| EPC | 0.00011 |
| BEE | 0.7 |
| PAL | 0.044 |
| BRO | 8.32 |
| SPORTS | 0.00027 |
| SPT | 0.0012 |
| WEED | 0.14 |
| STEM | 0.17 |
| NEOXAG | 0.0044 |
| CTP | 0.084 |
| LBI | 2.23 |
| GAMER | 0.00023 |
The prices are in HIVE for better context. Although when calculating the Market Cap, we will convert these prices in dollar value.
Market Cap
Now that we have the adjusted supply and average prices, we can calculate the market cap.
| Token | Market Cap [$] |
|---|---|
| LEO | 2,893,310 |
| DEC | 582,124 |
| BRO | 80,627 |
| LBI | 66,366 |
| GAMER | 65,907 |
| WEED | 49,718 |
| SIM | 47,907 |
| PAL | 42,414 |
| SPORTS | 34,495 |
| STEM | 33,158 |
| CTP | 27,833 |
| BEE | 22,415 |
| NEOXAG | 16,568 |
| SPT | 11,192 |
| EPC | 5,664 |
LEO is obviously dominant on the top with almost 3M USD market cap.
On the second place is DEC, with more than half a million MC, followed by the BRO token on the third place.
The next tokens are in the range of 5k to 66k USD market cap. These are almost nonexistent market caps. Even for an experimentational tokens at least a 100k in MC is needed. A 1M market cap for a project to be taken a bit more seriously. If even one of the above, except LEO is about to get to a 1M market cap that will be a 20X to 50X move in price. A move to 200k market cap is still a multiple increase in the price for these tokens. Hope some of them find the way there 😊 and stay on those levels.
All the best
@dalz