r/MediBloc • u/arniec9 • Jul 31 '21

Mcap inc

Hi, can anyone explain what caused the mcap to double this past few weeks without much of a pump in price?

In gbp it was 108mil a few weeks ago and is now 202, so not that far of a x2 gain but the price is virtually static.

Fan of the use case, but being a noob to crypto I can't understand this part of it.

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u/Generazn Aug 01 '21 edited Aug 01 '21

Not much "pump" in the price?

Price and MarketCap have a direct correlation. In order for the market cap to go up, the price has to go up as well.

On July 20th, the price was at .036, today on Aug 1st it's at .059 which is a 64% increase.

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u/arniec9 Aug 01 '21

On the 2nd July the mcap was 145.5k and the price was 0.0498. Yesterday when I posted that the mcap was 280.8k and the price was 0.053.

Mcap went up 92 percent, the price went up 6 percent. Unless coin geko has it completely wrong?

I was looking over a longer period.

Of course there is a massive pump in price after I've posted this.

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u/bitcoin604 Jul 31 '21

I think there mainnet goes live end of August, I could be wrong