Market Cap

Market capitalization ('market cap') is the total value of a cryptocurrency's circulating supply, calculated by multiplying the current price by the number of coins in circulation. It is commonly used to rank and compare cryptocurrencies by size, in the same way it's used for public companies. A high market cap doesn't guarantee safety or quality, and a low price per coin doesn't mean a coin is 'cheap' — a coin with a huge supply can have a low unit price but a very large market cap. Fully diluted valuation, a related figure, projects market cap using the maximum supply that will ever exist, which can look very different from the current figure.