Cryptocurrency market caps are often misleading because they're based on price, which can be manipulated. Notional value measures actual transaction volume at current exchange rates—provides a better reflection.
To compute it: check the total trading volume daily across major exchanges; divide by the number of active days (e.g., 21) and multiply by average BTC/ETH/Solana price to estimate an "intrinsic" market price. Then, you can compare market caps with notional values. This analysis shows Bit