How market cap sets the price
Market cap is price multiplied by circulating supply. Flip it and you get the price a coin would trade at for a given market cap: divide the cap by the supply. Two coins with the same market cap can have prices a million times apart because their supplies differ, which is why price alone tells you nothing about size.
Why 'if X had Y's market cap' is a check, not a forecast
The comparison tells you how much new money would have to arrive for a coin to reach a price. It doesn't tell you whether that money exists or why it would come. Use it to discard targets that require impossible inflows, and to understand what the ones that remain would actually need. The supply distribution guide shows who holds the existing supply, which is the other half of the question.
Circulating supply versus fully diluted
Circulating supply counts the coins that exist and trade today. Fully diluted valuation uses the maximum or total supply, including tokens still locked in vesting schedules. For coins with large unlocks ahead, the fully diluted figure is the honest one, because that supply will arrive. The toggle switches between the two where data exists. The tokenomics guide covers how to read a supply schedule, and the token unlocks guide covers when the locked supply lands.
Frequently Asked Questions
The guides behind this calculator
- Tokenomics How to read the supply schedule behind the number.
- Token unlocks When locked supply becomes circulating supply.
- Supply distribution Who holds the supply the cap is spread across.
- Realized cap The cost-basis alternative to market cap.
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Formulas last reviewed 2026-09-11. Educational tool, not financial advice. Results depend entirely on the numbers you enter.