I am just learning about crypto currencies, and I like to have a look every day at CoinmarketCap.
Today when I checked the price of 1UP I saw a sharp spike in the market capitalization, much bigger than the rise in price.
Checking the figures, the circulating supply of 1UP coins seems to have doubled from about 42 million coins on February 11 to 83 million coins on February 12.
Looking further around, I figured out that the circulating supply of 1UPs is just a fraction of the total supply of 1UP coin that is nearly 1 billion coins. (see https://etherscan.io/token/0x07597255910a51509ca469568b048f2597e72504 )
I am not sure what this means, but I think that the total supply of coins is probably held by the creators of Uptrennd whereas the circulating supply would be the number of coins that have been distributed or sold.
I would be interested on having some clarifications from someone with more experience in this field. What is the explanation of the doubling of the circulating supply?
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