Looking at the historical data of Loopring, I noticed something strange.
On Jan 4, Market cap was $163,805,000 and closed price was $0.65. That means, circulating supply was around 252M.
On Jan 5, closed price increased to $1.03 BUT market cap decreased to $41,138,000. And this means, circulating supply went down to around 39M.
Shouldn't Market Cap increase when price increases?
Can circulating supply decrease? or is there something that I am missing?