Why most cryptocurrency market cap is fake

[CosmosX]

Unfortunately the article has many valid points. Did you read it? There has been countless examples where you realise that the 300 billions circulating supply of the RickyCoin, first traded by a one single trader, my grand-mother - who spent only 1$ on this not so promising coin -, instantly results in a $300 billion market cap, even though the 299.999 billions other coins haven’t been traded…RickyCoin now sits on the Iron Throne of Crypto and is now king.

Please explain to me in detail how the below mathematical demonstration is false (Here is the original Medium article that you might find interesting).

Now let’s say Bob came to the market and decided to buy cheap apples and sell them at the higher
price.

Bob bought 1 apple for $1 and 1 apple for $3 (totally 2 apples for $4).

Then Bob started selling his apples for $5 each.

Now the order book looks like this:

sell 2 apples for $5 each (Bob)
sell 1 apple for $5
What will be the market cap after the first trade?

Right, $15! (price of first trade $5 multiplied by 3 apples)

So Bob invested $4, while the market cap increased by $12 (from $3 to $15).

This is very important, so let’s repeat. Bob invested only $4, but the market cap was increased by $12.

And if you are still not convinced, then you will probably find this Forbes article more reliable, and it says exactly the same thing