Mars Finance News: Erick Zhang, Managing Partner of Nomad Capital, tweeted, "Unlocked amount does not equal circulating supply. Many project teams claim token unlocking amount as circulating supply, falsely reporting circulating market value, which leads to incorrect data on data platforms and misleads investors. Investors are advised to check on-chain data to derive the correct market value. Taking the BTCfi project Corn as an example, its actual circulating supply is at most 3%, corresponding to a market value of around $3 million, rather than the 25% circulating supply shown on the project's website. Coingecko also simply displays the 25% circulating supply reported by the project team, thus incorrectly showing a market value of $30 million."
Nomad Capital Managing Partner: The number of circulating tokens announced by many projects is seriously inconsistent with the actual number, which is misleading
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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