100 Million Ounces
Ounce is a unit of measurement for weight, typically used to measure precious metals such as gold and silver. In the world of cryptocurrency, ounce is also often used as a shorthand term for 1 million coins or tokens in circulation. This article will explain what 100 million ounces represent in the context of cryptocurrencies.
Cryptocurrency Supply Cap:
When it comes to supply caps, most digital currencies have them built into their protocols by design. A hard cap refers to an absolute limit on the total number of coins that can exist at any given time – this ensures scarcity and helps maintain value over time. Hard caps are usually expressed in terms of coin amount rather than weight (i.e., 100 million coins instead of 100 million ounces). So when someone mentions “100 million ounces” they are actually referring to a maximum supply cap set at 100 million units/coins/tokens created through mining or staking activities within that particular blockchain network’s protocol ruleset (such as Bitcoin’s 21-million cap).
Market Capitalization: When discussing market capitalization, we need take into account both circulating supply (the actual number being traded) and price per token . Put simply , if there were only 10 BTC available with each valued at $10k then its market capitalization would be $100m ((10 x 10000 =$100m)). However if there were 1000BTC but each was worth just $1 then its marketcap would be just ($1000 x 1000=$1m ). Therefore , when talking about “marketcaps” you must consider both volume & price – hence why it is so important to understand how much currency has been issued vs how much demand there is from buyers – otherwise put; current Circulating Supply * Price Per Coin = MarketCap!
Conclusion : To summarize – “100M Ounces” generally refers either directly or indirectly back towards an upper bound limit on the total amount possible distributed across all users within whatever related blockchain community / ecosystem exists . It should not be confused however with ‘MarketCap’ which requires knowledge around BOTH circulating supplies AND prices !
