Crypto Market Cap and Target Price Calculator

Market capitalisation is the product of two published figures: the current price of a single unit and the number of units a data provider counts as circulating. That is the whole definition. It borrows its name from equity markets, where share counts are audited and disclosed on a fixed schedule, but in crypto both inputs are softer than the tidy number suggests.

The price component is the last traded price observed across the venues a provider aggregates, weighted in a way each provider chooses for itself. The supply component is a judgement call about which units count as in the market: whether tokens held by a foundation, locked in a vesting contract, provably burned or simply never issued belong in the total. Change either judgement and the market cap changes, without a single trade taking place.

What market cap is genuinely good for is comparison of scale. It answers "is this network valued more like a large one or a small one" far better than a unit price does, because unit price is an accident of how many units were created. An asset priced at fractions of a cent with a trillion units in circulation can be larger than one priced in the hundreds of dollars with a few million units.

Nothing is hidden inside this calculator. It evaluates three expressions:

• Market cap = price per unit × circulating supply
• Implied market cap = scenario price × circulating supply
• Implied price = scenario market cap ÷ circulating supply

The multiple shown alongside the result is simply the scenario price divided by the current price. Supply is held constant in every calculation, which is a deliberate simplification and one of the limitations described further down.

Take a hypothetical asset trading at $0.50 with 2,000,000,000 units in circulation. Its market cap is 0.50 × 2,000,000,000 = $1,000,000,000, so one billion dollars.

Enter a scenario price of $1.00 and the implied market cap becomes 1.00 × 2,000,000,000 = $2,000,000,000. The scenario price is two times the current price, so the implied valuation is two times the current valuation. That proportionality always holds while supply is fixed.

Run it the other way: enter a scenario market cap of $5,000,000,000 and the implied price is 5,000,000,000 ÷ 2,000,000,000 = $2.50. The useful part of that answer is the comparison it invites — you can look at which existing networks are currently valued near five billion dollars and judge for yourself whether the comparison is a sensible one. The calculator does not make that judgement, and neither figure says anything about what will happen.

The most important one: market cap is not money invested. If one unit out of a billion trades hands at a dollar higher, every other unit is re-valued at that new price and the headline market cap jumps by a billion dollars, even though a single dollar changed hands. Market cap is a paper valuation of the whole supply at the most recent price, nothing more.

It also says nothing about whether the valuation could be realised. Selling even a small fraction of a circulating supply into a thin order book moves the price against the seller, so the aggregate is not a pot of money that anyone could withdraw.

This calculator holds supply constant. Many assets issue new units on a schedule or burn them with activity, so a price reached three years from now would be multiplied by a different supply than today's. For an inflating supply, holding it constant understates the valuation a future price implies.

Finally, providers disagree. Because circulating supply is a judgement, our figure, an exchange's figure and another aggregator's figure can all differ for the same asset on the same day, and so can the market cap each produces.

Circulating supply is the count of units the provider believes are in the market and available to trade. It usually excludes units that are provably burned, and it may exclude locked or unvested allocations depending on the provider's policy.

Total supply counts units that exist, whether or not they are freely tradable. Maximum supply is the hard ceiling written into the protocol, where one exists — Bitcoin has one, many assets do not, and an unlimited supply is not automatically a flaw.

Multiplying price by total or maximum supply gives a fully diluted valuation. It is a legitimate way to ask "what would this be worth if everything that can exist did exist and traded at this price", and for assets with large unvested allocations it is often the more sobering number.

Unit price on its own tells you almost nothing. It is determined by how many units the protocol created, which is a design decision rather than a measure of anything. A project can halve its unit price overnight by doubling its supply without changing its value at all.

Valuation is the comparable figure. When someone asks whether an asset is "cheap", the answerable version of that question is what valuation the market is currently placing on it relative to comparable networks — which is exactly what this calculator makes visible when you translate a price into a market cap.

Prefill values are read from the same cached market snapshot that powers our market data page, refreshed on our server at most once every 15 minutes and shared by every visitor. Choosing an asset here does not trigger a new request to the data provider, and no figure you type is transmitted anywhere.

Our data methodology explains the caching, the freshness labels and what we do when the provider is unavailable. Nothing on this page is financial advice, and none of it should be treated as a recommendation to buy, sell or hold any asset.