Quick answer
Multiply token price by circulating supply to get market cap. To find a price at a future valuation, divide the target market cap by the circulating supply expected at that time.
Use circulating supply for market cap and max or total supply for FDV. Mixing them produces a misleading comparison, especially when a large unlock schedule sits ahead.
How to use it
- 1Enter the current token price and circulating supply from the same data source and timestamp.
- 2Add a target market cap to calculate the implied token price and valuation multiple.
- 3Enter max or total supply to compare market cap with fully diluted value.
- 4Optionally enter your token balance to see its value now and at the target valuation.
Formula and method
Market cap = token price × circulating supply. Implied price = target market cap ÷ circulating supply. FDV = token price × max or total supply.
The target multiple divides target market cap by current market cap. The ladder holds supply constant, so revise circulating supply when unlocks, emissions, burns, or vesting are material.
Worked example
A token trades at $0.50 with 100 million circulating tokens, producing a $50 million market cap. A $250 million target divided by that supply implies a $2.50 token price.
If max supply is 200 million, current FDV is $100 million. A holder of 10,000 tokens has $5,000 at the current price and $25,000 in the target scenario.
Limits to know
- The target calculation holds circulating supply constant unless you update it yourself.
- A quoted market cap does not mean that amount of cash entered the asset; marginal trades set the displayed price.
- Thin liquidity can prevent a large holder from realizing the displayed portfolio value.
- Max supply can be undefined, change through governance, or fail to capture inflation and burns.
Frequently asked questions
How is crypto market cap calculated?
Multiply the current token price by circulating supply. A $2 token with 50 million circulating tokens has a $100 million market cap.
How do I calculate token price from market cap?
Divide the target market cap by the expected circulating supply. Supply should match the future date in your scenario because unlocks can change the result.
What is fully diluted value?
Fully diluted value, or FDV, multiplies current price by max or total supply. It estimates valuation if those tokens shared today's price, though future issuance can affect price.
Can a token reach another coin's market cap?
The arithmetic can show the implied token price, but matching another asset's valuation depends on demand, liquidity, supply changes, utility, and broad market conditions.