Cryptocurrency Market Cap Calculator
Understand Market Capitalization
Market capitalization (market cap) is calculated by multiplying the current price of a cryptocurrency by its circulating supply. It represents the total value of all tokens in circulation.
Why market cap matters more than price: A coin trading at $100 might seem expensive, but if it has only 1 million coins in circulation, its market cap is $100 million. Another coin at $1 with 10 billion coins? That's $10 billion in value. Market cap reflects trust, adoption, and liquidity.
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Top Cryptocurrencies by Market Cap (2025)
| Rank | Cryptocurrency | Market Cap | Price | 2025 Change |
|---|---|---|---|---|
| 1 | Bitcoin | $2.4 trillion | $120,077 | 16.82% |
| 2 | Ethereum | $539.68 billion | $4,487.78 | 30.48% |
| 3 | XRP | $181.51 billion | $3.02 | 37.13% |
| 4 | Tether | $120 billion | $1.00054 | - |
| 5 | Hyperliquid | $14.79 billion | $44.30 | 86.23% |
As of October 2025, the cryptocurrency market is worth $4.14 trillion. That’s more than the GDP of most countries. And guess what? Just five coins account for over 80% of that value. If you’re trying to understand where the real money is in crypto right now, you don’t need to chase every new memecoin. You need to know who’s leading the pack-and why.
Bitcoin Still Rules the Roost
Bitcoin isn’t just the first cryptocurrency. It’s still the biggest by far. With a market cap of $2.4 trillion and a price near $120,077, it holds nearly 58% of the entire crypto market. That’s more than the next six coins combined. What’s driving this? Not speculation anymore. It’s institutions. Spot Bitcoin ETFs have poured billions into the market since their launch. Big banks, pension funds, and even sovereign wealth managers are buying. And then there’s the U.S. government’s move to create a strategic Bitcoin reserve under President Trump’s executive order. That wasn’t just symbolic-it signaled a shift in how governments view digital gold. Bitcoin’s price has climbed 16.82% so far in 2025. That’s not explosive like some altcoins, but it’s steady. And that’s the point. Bitcoin is no longer a gamble. It’s a long-term store of value, like digital oil or gold with better liquidity.Ethereum: The Engine of Decentralized Finance
Ethereum sits at #2 with a $539.68 billion market cap and a price of $4,487.78. It’s up 30.48% this year-outpacing Bitcoin-and for good reason. While Bitcoin is money, Ethereum is a computer. It runs smart contracts, decentralized apps, NFTs, and DeFi protocols that handle billions in transactions every day. The shift to proof-of-stake in 2022 cut its energy use by 99.95%. Since then, upgrades like Dencun and Proto-Danksharding have made it faster and cheaper to use. Developers still build on Ethereum because it’s the most secure, battle-tested blockchain out there. Even new Layer 2 chains like Arbitrum and Optimism rely on Ethereum’s mainnet for security. You can’t talk about DeFi without talking about Ethereum. Over 70% of all DeFi activity happens on it. That’s why big players like BlackRock and Fidelity are investing heavily-not just in ETH itself, but in the infrastructure built on top of it.XRP: The Bank’s Favorite Crypto
XRP is at #3 with a $181.51 billion market cap and a price of $3.02. It’s up 37.13% this year, making it one of the top performers among the giants. But here’s the twist: XRP isn’t a typical blockchain. The XRP Ledger is open source, but it’s not decentralized in the way Bitcoin or Ethereum is. It’s maintained by a consortium of validators, mostly financial institutions. Ripple, the company behind XRP, uses it to power RippleNet-a system banks use to move money across borders in seconds, not days. That’s why banks like Santander and SBI Holdings use it. It’s faster and cheaper than SWIFT. And while the SEC lawsuit dragged on for years, courts have now ruled that XRP is not a security when sold on exchanges. That cleared the air for institutional adoption. XRP doesn’t run smart contracts or NFTs. It doesn’t need to. Its job is simple: move money. And in 2025, that’s worth $180 billion.
Tether: The Invisible Backbone
You won’t see Tether on most “top crypto” lists, but it’s everywhere. USDT has a market cap of over $120 billion and trades at $1.00054-pegged to the U.S. dollar. It’s not a store of value. It’s a bridge. Every time you trade Bitcoin for Solana, you’re probably using USDT as the middleman. Exchanges don’t want to hold dollars. They want stablecoins. And USDT is the most trusted one. It’s not perfect. There have been concerns about its reserves. But audits and transparency reports from 2024 and 2025 show it’s backed mostly by U.S. Treasuries and cash equivalents. In a market full of volatility, USDT is the calm in the storm.Hyperliquid: The New Contender
If you’re looking for the most surprising rise in 2025, look at Hyperliquid (HYPE). With a market cap of $14.79 billion and a price of $44.30, it’s up 86.23% this year. It’s not a memecoin. It’s a Layer 1 blockchain built for high-frequency trading. Hyperliquid handles over 1 million trades per second. That’s faster than Nasdaq. Its native token, HYPE, is used for fees, staking, and governance. And unlike many Layer 1s that try to do everything, Hyperliquid focuses on one thing: making derivatives trading faster, cheaper, and more reliable. It’s backed by top crypto traders and institutional liquidity providers. If you’re trading crypto futures, you’re likely already using Hyperliquid-even if you don’t know it.Who Else Is in the Top Tier?
Beyond the top five, a few others are holding strong:- BNB at $108 billion, up 22.37%-still the engine behind Binance’s ecosystem.
- TRON at $12.3 billion, up 32.58%-dominant in Asia for decentralized entertainment and content.
- Bitcoin Cash at $11.2 billion, up 22.79%-focused on peer-to-peer payments with lower fees than Bitcoin.
Susan Dugan
November 28, 2025 AT 09:11Okay but let’s be real - if you’re not holding at least some ETH, you’re basically showing up to a Tesla factory and asking where the Model T’s are. Ethereum isn’t just alive, it’s the whole damn ecosystem breathing. Smart contracts, DeFi, NFTs, even the new RWA projects? All running on its backbone. It’s not sexy like a memecoin, but it’s the plumbing that keeps the house from flooding.
Tom MacDermott
November 29, 2025 AT 14:56Wow. So Bitcoin’s the new gold now? Next you’ll tell me the Federal Reserve is just a ‘trustworthy custodian’ and we should all start burying physical coins in our backyards. Please. This is 2025, not 2013. The only thing ‘digital gold’ is good for is giving old men a reason to stop using ATMs.
Martin Doyle
November 30, 2025 AT 00:25Tom, you’re missing the point. Bitcoin’s not about being ‘cool’ - it’s about being the only asset that survived 15 years of regulatory hell, black swans, and meme-driven panic. You don’t need to like it. You just need to acknowledge it’s the only one that didn’t die when the lights went out. And now institutions are betting billions on it. That’s not nostalgia. That’s strategy.
Rachel Thomas
November 30, 2025 AT 01:08Hyperliquid? Really? That’s top 5? I saw a tweet about it yesterday and thought it was a new dog coin. Who even uses this? Some hedge fund bros trading futures at 3am while their cats walk on their keyboards?
Sierra Myers
November 30, 2025 AT 11:23Hyperliquid is the future. You’re just mad because you still think trading is about ‘buying low and selling high’ instead of letting algorithms eat your lunch. If you’re not using a chain that does 1M trades per second, you’re trading with a typewriter. Get with it.
Evelyn Gu
December 2, 2025 AT 06:54I just want to say… I’ve been holding XRP since 2018… and I cried when the SEC lawsuit was dismissed… I mean, not cried-cried… but like, I paused my Netflix and stared at the wall for ten minutes… and then I made a smoothie… and drank it slowly… and thought about how long we’ve waited… and how the world still doesn’t get it… but we knew… we always knew…
SHIVA SHANKAR PAMUNDALAR
December 3, 2025 AT 18:51Why are we still talking about market cap? Capitalism is a scam. The real value is in community. XRP is owned by banks. Ethereum is owned by developers. Bitcoin is owned by libertarians. But who owns the people? We do. And we are not coins. We are not tokens. We are not data points on a chart. We are breathing. We are here. And we are tired.
Puspendu Roy Karmakar
December 5, 2025 AT 04:09Bro, I’m from India. We don’t have Bitcoin ETFs. We don’t have institutional money. But we have 200 million people using USDT to send money home. Tether isn’t ‘backed by Treasuries’ - it’s backed by my aunt’s chai shop and my cousin’s WhatsApp group. That’s real adoption. Not Wall Street.
Grace Zelda
December 5, 2025 AT 05:32Let’s not pretend any of this is neutral. Bitcoin is political. Ethereum is technical. XRP is corporate. Tether is financial. Hyperliquid is algorithmic. And the people who actually built this? They’re broke. The people who profit? They’re in boardrooms with private jets. So yeah, the market cap looks impressive - but who’s really winning here? Not the dev who coded the smart contract. Not the miner who ran the node for 7 years. It’s the ones who bought in at $500 and sold at $120k. That’s not innovation. That’s capitalism with blockchain glitter.
Ben Costlee
December 6, 2025 AT 12:07Grace, you just said everything I’ve been feeling but couldn’t articulate. I’ve been in crypto since 2017. I’ve seen coins rise and vanish. I’ve watched devs get rich and then vanish too. The real heroes are the ones who kept building even when no one was watching. And the real tragedy? The people who didn’t believe in it… still don’t. But the ones who did? They’re still here. Still building. Still believing. That’s the real market cap.
Kristi Malicsi
December 7, 2025 AT 15:58market cap is just a number like any other number like price is just a number like any other number like your feelings about bitcoin are just feelings like any other feelings like i dont care
priyanka subbaraj
December 8, 2025 AT 10:09Hyperliquid? LOL. That’s not a blockchain. That’s a casino with a whitepaper. If you think high-frequency trading is innovation, you’ve never seen a real revolution. This isn’t finance. It’s a rigged slot machine with a crypto logo.
Sam Daily
December 9, 2025 AT 18:44Y’all are overcomplicating this. Bitcoin = digital gold. Ethereum = world computer. Tether = glue. XRP = bank wire. Hyperliquid = trading engine. Done. Stop trying to make it philosophy. It’s infrastructure. Like electricity. You don’t debate the physics of a lightbulb - you just turn it on.
Michael Fitzgibbon
December 11, 2025 AT 06:08I appreciate the breakdown, but I keep wondering - what happens when one of these giants fails? Not ‘crashes’ - fails. Like, the code breaks, the governance collapses, the trust evaporates. We act like these are permanent fixtures, but they’re all just code running on servers. What’s the backup plan? What’s the off-ramp? I’m not scared of volatility. I’m scared of systemic fragility disguised as stability.
Mark Adelmann
December 13, 2025 AT 00:45Love this thread. Seriously. I’m new to crypto, came in last year, thought it was all gambling. Then I read this post and started actually researching. Now I hold ETH and USDT and a little BTC. Not for moonshots. Just to be part of something that’s actually changing how money works. Keep it real, everyone.
Tony spart
December 14, 2025 AT 23:48USA 4 life. Bitcoin is American. Ethereum? That’s just Silicon Valley’s ego. XRP? Chinese banks love it. Tether? Swiss loopholes. Hyperliquid? Probably owned by some hedge fund from Singapore. Only Bitcoin is truly free. And if you’re not buying it, you’re helping the globalists win.
Shelley Fischer
December 15, 2025 AT 11:01While the technical analysis presented is largely accurate, the framing of institutional adoption as inherently legitimate warrants critical scrutiny. The convergence of regulatory alignment, centralized governance, and capital concentration does not equate to decentralization. One must interrogate whether these assets serve the public good - or merely the interests of those who control the infrastructure. The market cap reflects power, not principle.
George Kakosouris
December 15, 2025 AT 17:25Let’s cut through the noise. Bitcoin’s 58% dominance? That’s a bubble. Ethereum’s DeFi dominance? Built on leveraged yield farms. XRP? A corporate shell. Tether? A regulatory time bomb. Hyperliquid? A flash crash waiting to happen. And you’re all acting like this is the endgame? This is the calm before the storm. The next crash will wipe out 80% of this ‘value.’ Mark my words.