Glossary
Market Cap
16/04/2026
Market cap (market capitalization) is the total market value of a cryptocurrency's circulating supply. It is the most commonly used metric to compare the relative size of cryptocurrencies.
Formula
Market cap = Current price × Circulating supply
For example: if a coin trades at $0.10 and has 10 billion coins in circulation, its market cap is $1 billion.
Market cap tiers
| Tier | Market cap | Characteristics |
|---|---|---|
| Large cap | > $10B | High liquidity, lower volatility, widely listed |
| Mid cap | $1B – $10B | Moderate liquidity, growth potential |
| Small cap | $100M – $1B | Lower liquidity, higher volatility |
| Micro cap | < $100M | Very low liquidity, high risk |
Market cap vs. price
A coin's price alone says nothing about its size. A coin priced at $0.001 can have a larger market cap than a coin priced at $1,000 if it has enough supply in circulation.
Relevance to miners
Market cap helps miners evaluate a coin's maturity and exit risk:
- Large-cap coins are easier to sell in volume without moving the price
- Small-cap coins may offer higher percentage rewards but are harder to liquidate
- A rising market cap signals growing demand and can improve profitability
