Altcoin Treadmill (market-cap decomposition)
Market Structure· DE: Altcoin-Laufband (Zerlegung der Marktkapitalisierung)
Monthly decomposition of the altcoin market cap into what moved it: price change at constant supply, dilution (new supply of existing coins), new listings, returners, rank changes, exits and data breaks. Shows how much of the market-cap growth is new supply rather than higher prices. Circulating supply as reported by CoinMarketCap; group sums only. Descriptive, not a signal.
Calculation
Per coin, month end t−1 → t: price = S(t−1)·ΔP, dilution = P(t)·ΔS; |ΔS/S| > 50 % ⇒ whole change to data_break. New coins: seen within 365 days ⇒ returners, else CMC dateAdded within 365 days ⇒ new listings, else rank change. ΔMC = sum of all components (residual < 1 USD).
Unit & source
usd · CoinMarketCap listings/historical, first 2,000 by rank per day — DATA_LICENSES §7u (group sums only)
Related terms
Definitions are for research and education. Metrics describe market conditions — not financial advice or a buy/sell signal.