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Cryptocurrency Market Cap

Despite all the doom-mongers cryptocurrency is a huge business and here to stay. However, because a cryptocurrency is created by software it is relatively easy to make a new one, or more likely a new version of an existing one. There are currently over 1500 cryptocurrencies in existence, but most will wither away and die (as others have). It is currently like the old Wild West, where only the strong will survive the current gold rush.

Cryptocurrency

What is Cryptocurrency Market Cap?

So, what is cryptocurrency market cap? One measure of a strength of a cryptocurrency is the total value of all the digital coins (a.k.a tokens or units) in the cryptocurrency marketplace (the Internet). The buyers, sellers and users of this digital money determine its value, when comparing that value to the money normally used in a country. That value is determined by how many people are doing the buying, selling, holding (a.k.a. hodling) and using of the cryptocurrency, i.e. trading. The more people trading in a cryptocurrency the more likely it is to rise in value. The total value of all the coins of a cryptocurrency is known as its capitalization (capitalisation), or simply market cap.

Cryptocurrency Market Cap Calculation

The market cap is easy to calculate. Take the current value of a digital coin, and multiple it by the number of coins circulating. For example, if 17 million Bitcoins are in circulation, and each coin is worth $7000, then market capitalisation is 17m X $7000 = $119000 million ($119 billion).

A List of Websites Providing Cryptocurrency Market Cap Data

There are websites that display the market cap of cryptocurrencies. Some data providers have a web page listing cryptocurrencies and their market cap. See the following examples of cryptocurrency market cap listings. Note that the Alexa website ranking was at the time of the publication of this article:

Website Alexa Ranking
CoinMarketCap 319
CyptoCompare 4987
CNN 7764
Barchart 16673

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