Price, volume, market cap, time windows, and false precision.
By the end, you should be able to
- Know what price, volume, and market cap measure.
- Explain why a percentage needs a baseline.
- Spot missing context and false precision.
The same move, two baselines
Illustrative returns change when the measurement window changes.
Price, volume, and market cap
Price describes a recent trade or quote. Volume describes reported activity over a period. Market cap is usually price multiplied by estimated circulating supply. Each metric answers a different question.
Always name the baseline
A percentage change only becomes useful when its starting observation and time window are clear. Kryptonomy normalizes chart series to the first observation in the selected window.
Cross-check the story
If price, volume, and market cap diverge, investigate the window, provider coverage, and supply estimate. Divergence is a research prompt, not a verdict.
What this does not tell you
- Reported volume may use different venue coverage or quality filters.
- Market cap depends on a provider supply estimate.
- Percentage changes do not explain causation or predict the next period.
Change the measurement window
Observe how the same asset tells a different story under different baselines.
- Open Market Activity & Supply Context.
- Compare the one-week and 90-day windows.
- Write one observation that stays true and one that changes with the window.
Check your understanding
1. What makes a percentage change interpretable?
2. What is market cap usually based on?
3. What does divergence between metrics provide?