The DEC price has been a on wild ride in 2021 and 2022. Going from 0.001 to 0.01 and more! A 10x increase.
Meanwhile the supply has also been changing a lot. From 500M at the start of 2021, to more than 3B now.
What puts these two numbers in one place is the market cap. I have been doing DEC stats, but never about the market cap.
Here is the chart for the period 2021 - 2022.
Quite the ride :)
DEC market cap was under 1M dollars at the beginning of 2021. Then starting from August 2021 it started to grow and reached 20M at one point in December 2021.
In the recent months the DEC market cap has stabilized around 2M
DEC market cap is important because with the latest changes, Splinterlands want to make it a product backed stablecoin. Its backed by the ability to buy in game card packs at fixed ratio.
The value of the product is around 100M, the market cap of all the SL cards in circulation.
On the upper side DEC is limited by the market cap of the SPS token, that at the moment is around 40M.
So there you go, a 2M market cap for a stable coin backed by 100M on the down side and 40M on the upper side.
Have in mind these numbers can change fast.
This chart will be a regular addition going forward for the DEC posts.
https://peakd.com/hive-13323/@dalz/how-is-the-dec-token-doing-under-these-market-conditions
