What Is Market Capitalization?
Market capitalization, or market cap, is the total value the market assigns to every circulating unit of an asset. For crypto, it's calculated as circulating supply multiplied by current price. For traditional assets like gold or public companies, the same logic applies using above-ground supply or outstanding shares. Market cap reframes price into a relative scale: a fraction-of-a-cent coin with trillions in supply can carry the same valuation as an asset trading at tens of thousands of dollars with only a few million units outstanding. It's the figure that lets very different assets be compared side by side.