The Proper Steem Engine Tokens Marketcap? Who is on the top?

There are now more than 600 tokens registered on the Steem Engine platform. Its has been less than a year since Steem Engine started operating. Wow, just wow, 600 tokens!

Now, a lot of these tokens are just a test tokens, or something to play with. But if only 1% of them manage to do something we will have 6 working projects. Better than nothing.

With all these tokens around how do you classified them? How do you rank them?

Well the standard way, the way that coinmarketcap.com is working is the marketcap of the tokens.
If you go on Steem Engine web and rank the tokens according to the marketcap you will get something like this.

Not a lot of those tokens are known. That’s way usually when you go to the tokens tab, the tokens are represented according to their daily trading volume.

I had a fun exercise and decided to make a SE Tokens marketcap that will be at some decent level.

The main problem is no volume. Tokens with no volume or very small volume can be easily manipulated. Or even if they are not manipulated, but just standing there, if someone made a trade on them, that price will be recorded as a last trading price and it will influence the marketcap.

For example, a token created with 1 M supply and traded only once for one dollar will have 1 M marketcap. The high marketcap of the tokens comes from the main accounts holdings, and no or very small volume.

Even for the more relevant tokens with more accounts holding the token and some volume, if we exclude the admin accounts their marketcap will go down.

The method I used here for creating the SE Marketcap is exclude the tokens with no or very small volumes and high concentration (or absolute in some cases). Some other tokens with suspension activities were also excluded.

I want to note that this is in no way an exact representation of the situation and it can be errors and mistakes. I just tried to do it a bit less mistaken than the Marketcap ranking on SE.

Here is the table for the top 25 tokens ranked by marketcap according to my adjustments

The tokens with the asterix (*) in the supply have adjusted supply, meaning the top holder/s holdings are excluded from the supply. The mining tokens are not included, and the pegged ones as well.

Again, this representation is false and have mistakes in it, but a bit less mistakes than the ranking by marketcap on SE.

Here I want to mention tokens like SMTT (Steem Monsters Team Token), APX (APPIX), STEEMSPEAK and OracleD, that are all known and established projects but are not in the list above because they have special status at the moment. SMTT for example represents Security token representing equity ownership in Steem Monsters Corporation.

All the best
@dalz