Ethereum Market Cap
Ethereum Market Cap
Ethereum's market capitalization is calculated by multiplying the current ETH price by the total circulating supply. With approximately 120.7 million ETH in circulation and a price around $2,118, the Ethereum market cap is approximately $255 billion USD, making it the second-largest cryptocurrency by market cap.
Circulating Supply
The current circulating supply of Ethereum is approximately 120.69 million ETH. Unlike Bitcoin, Ethereum has no hard supply cap, but the EIP-1559 burn mechanism reduces net issuance over time.
ETH vs Bitcoin Market Cap
Bitcoin's market cap is roughly 3–4x larger than Ethereum's, with BTC holding the top position. However, Ethereum's market cap leads all other cryptocurrencies by a wide margin, reflecting its dominance in DeFi and smart contracts.
Fully Diluted Valuation
Because Ethereum has no maximum supply cap, its fully diluted valuation (FDV) is dynamically estimated based on current issuance rate projections. The EIP-1559 fee burn can result in net deflation during periods of high network usage.
Frequently Asked Questions
Q: What is Ethereum's current market cap?
Ethereum's current market cap is approximately $255 billion USD, based on a price of ~$2,118 and a circulating supply of ~120.7 million ETH.
Q: Does Ethereum have a maximum supply?
No. Ethereum does not have a hard maximum supply cap. However, the EIP-1559 upgrade introduced a fee-burning mechanism that can reduce net ETH issuance, making it deflationary during high-usage periods.
Q: What rank is Ethereum by market cap?
Ethereum is the #2 cryptocurrency by market capitalization, trailing only Bitcoin.
Q: How does market cap affect ETH price?
A rising market cap generally reflects increased demand and investor confidence in Ethereum. Conversely, a declining market cap signals selling pressure or reduced network activity.
Q: What is ETH dominance?
ETH dominance measures Ethereum's market cap as a percentage of total crypto market cap. A rising ETH dominance signals capital flowing from altcoins into Ethereum.
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