What is STEEM's market capitalization?

Seems like a simple question, right? We can just go to CoinMarketCap and get the number, $92,905,510. Problem solved.

Yahoo and CoinGecko give back similar numbers. But here is the catch...

In general, market cap is the product of price multiplied by number of shares, but if we look at the circulating supply on any of those sites, we get back the number: 394,951,699. That number comes from here and it has apparently not updated since December 4 of 2021 - almost a year. To me, this seems.... odd.

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Investigating, if we take the market cap at CMC - 92,905,510 - and divide it by the price (0.2352), we get back 395,006,420 for the number of shares. Not exactly 394,951,699, but it's good enough for government work.

So, my suspicion is that CoinMarketCap, CoinGecko, and Yahoo are all using a stale value for the circulating supply when they calculate the market cap.

In contrast, if I get the current_supply from steemdb.io, I find the number 419,090,621. This is off by about 24 million - or 6% from the number that CMC, CoinGecko, and Yahoo give us. If I multiply that by the current price - 0.2352, I get back a market cap of $98,570,114. Alternatively, if I multiply the current supply by the median price in the blockchain's price feed (0.2405), I get back $100,791,294.

So the short answer to the question in my title, What is STEEM's market capitalization, is "I don't know. Somewhere between 93 million and 101 million.... probably." My best guess would be $98.6 million.

The reason why I'm asking this question is that if we take $98,570,114 as the market cap, that would move STEEM's rank on the CMC web site from 258 to 245.

If we take the $100,791,294 value, that would move the rank even further up to 242.

Does this matter? I don't know, but in general it seems to me that ranking higher on sites like coingecko and coinmarketcap is helpful for a cryptocurrency. If our circulating supply is artificially low, then so is our market capitalization. And if that is artificially low, then so is our ranking.

So what do you think? How should STEEM's "correct" market capitalization be calculated? If the current value is stale, how do we get those web sites to start using the value from steemdb.io, instead? FWIW, that's apparently where they're getting the SBD value from:

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