Total Crypto Market Cap Price
About Total Crypto Market Cap (TCAP)
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TCAP is created through smart-contract implementations by the Cryptex Finance protocol, which leverages over-collateralization schemes and blockchain oracles to create a token that tracks the market cap of cryptocurrencies and tokens listed on the largest crypto data providers in the world. Some of these data providers include Chainlink, Coinmarketcap, Nomics, Coin Paprika, and Coin Lore. The sole purpose of this token is to mimic the performance of the total crypto market capitalization. TCAP holders cannot govern the Cryptex protocol; that role is undertaken by Cryptex’s native token CTX. Cryptex Finance is an Ethereum-based protocol that lets investors, traders, funds, and DeFi users get exposure to the total crypto market capitalization.
TCAP is an ERC-20 synthetic token created by Cryptex Finance. The TCAP tokenization process starts with querying the median total market capitalization value from oracles and dividing it by 10 billion. For example, if the total market cap of the crypto market is $2 trillion, the unit price of TCAP will be $200.
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