Crypto Markets #6 - DigixDAO - $86 million in gold with a market cap of $638 million

in #cryptocurrency • 7 years ago

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This just doesn't make any sense. Here is a token that is holding 1 gram of gold for every DBD and there are 2 million tokens in circulation. This is worth around $86 million USD according to google. The current market cap for DBD is $638 million. This is 8 times the value of the gold that is being held. Are coins like BTC, ETH or STEEM so overvalued that traders need to run for gold tokens at $344 USD per gram of Gold. Can someone tell me if I am wrong here? Is there something I am missing?

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I think a Gold or Dollar based coin is a great idea but the market needs to be realistic. Paying an 800% premium because your holding the asset as a crypto currency is crazy. What do you think?

#money #blockchain #technology #steemit
7 years ago in #cryptocurrency by
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