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That exactly why 'market cap' is a flawed metric on its own.
If I mine of ton of gold tomorrow the market cap changes completely.
In crypto it's also only a simplification because we use circulating supply, and not full float. Some tokens like ETH e.g. are infinite in supply, so we also cannot determine full float.
No need for a debate. It's pure logic.
If something exists, but is not accesible, it's not entering the market. This is true for CRO and other assets.
Example with gold; gold exists in space in nearly infinite supply, but it's inaccesible to mine this gold, therefore it's not entering the market.
If we start with e.g. advanced space exploration we might flood the market with gold and therefore the price will plummet. However, for now that's not possible.
So.. gold is there.. but price premains high..
Same with CRO. CRO is there in the vault, but nobody touches this CRO. If they start to release this CRO it might flood the market and it will plummet the price, however for now that's not possible.
You might make the argument that Cronos Labs can release at any time what is unlocked, I can counter with the opposite. Until we see actual releases it doesn't matter.
Look at the deployed amount. Anything else is noise.
Even that 1 year old of Late has to agree to that.