You're using the wrong CoinMarketCap marketcaps!
This discussion has been had before, but needs to be had again. The current marketcaps being display on coinmarketcap.com for crypto currencies and assets is misleading and false.
You need to be using the correct marketcaps, based on total supply, just like any other stock trading marketcaps. To base it solely on the circulating supply is like saying, coins held by developers or the organization are worthless and cannot be dumped on the market (true in the case of some rare lockups).
Currencies: https://coinmarketcap.com/currencies/views/market-cap-by-total-supply/
Assets: https://coinmarketcap.com/assets/views/market-cap-by-total-supply/
Thank you for pointing this out. I am pretty new to crypto, but based on what you said (and please correct me if I am wrong) market capitalization by total supply could be used as indicator for potential risk. As in: if huge amounts of the coin are held by developers or companies, one can never know, if/when holders decide to flood the market (and crash coin price).
That's correct. It also gives you a true indication of the value and what you're really buying.
Late to the comment party. Great article. I think most people don't think to look at held assets so I'm glad you pointed that out!