The market cap formula
Market capitalisation is the standard way to measure the overall size of a coin, and the maths could not be simpler: the current price of one coin multiplied by the number of coins in circulation. It works in any currency, because you supply the price yourself; the answer comes out in whatever currency you typed in.
The second mode runs the same formula backwards. Give it a target market cap and the circulating supply, and it tells you what one coin would cost at that valuation. Add the current price and it also shows the multiple between here and there.
Worked examples
Circulating supply versus fully diluted value
Circulating supply counts the coins actually tradeable today. Max (or total) supply counts everything that will ever exist, including coins still locked up for the team, investors, staking rewards or future emissions. Multiplying the price by that bigger number gives the fully diluted valuation, FDV.
The gap between the two matters. A project can sport a modest market cap while its FDV is many times larger, which means a steady stream of new coins is scheduled to hit the market. Unless demand grows to absorb them, that unlocking supply tends to drag on the price. When two projects have similar market caps but very different FDVs, they are not really the same size, so it is worth entering the max supply here and looking at both numbers side by side.
The "if it reaches the market cap of X" trap
A favourite piece of crypto arithmetic is "if this coin reached the market cap of Bitcoin it would be worth so much per coin". The division is real, and this calculator will happily do it, but treat the answer as a sense check rather than a forecast. Nothing entitles one project to another's valuation, supplies grow over time, and a low price per coin says nothing about cheapness: a 0.10 coin with 100 billion in circulation is a far bigger project than a 50.00 coin with 10 million. Comparing market caps, never prices, is the honest way round, and running the numbers here is a quick way to deflate an over-excited chart.
Safety note: never enter your seed phrase or private keys into any website, including this one. This calculator only needs numbers you type yourself; it fetches no live prices and sends nothing anywhere.
Figures are for guidance only and are not financial advice. Cryptoassets are high risk and largely unprotected in the UK, so check FCA guidance before acting on any calculation.
Frequently asked questions
How is market cap calculated?
Market cap is the coin's current price multiplied by its circulating supply, the coins actually available today. A coin priced at 2.50 with 400 million circulating has a market cap of 1 billion. It is the standard way to compare the overall size of different coins.
What is fully diluted valuation (FDV)?
FDV is the price multiplied by the maximum or total supply that will ever exist, rather than the coins circulating now. If FDV is far above the market cap, large amounts of the coin are still to be released, and that future supply can weigh on the price as it unlocks.
What does the price at a target market cap mean?
It answers the question of what one coin would cost if the project were valued at some target figure. Divide the target market cap by the circulating supply. It is a useful sense check, but reaching another project's valuation is never guaranteed and the supply may grow along the way.
Is a coin with a lower price cheaper?
Not by itself. Price per coin depends entirely on how many coins exist. A 0.10 coin with 100 billion in circulation is a far bigger project than a 50.00 coin with 10 million. Comparing market caps, not prices, is the honest comparison, which is exactly why this calculator exists.
Does this calculator use live prices?
No. You enter every number yourself, including prices and supply figures, which you can take from any data site you trust. Nothing is fetched or sent anywhere, and it works in any currency. Never enter a seed phrase or private key into any website, including this one.