As you ought to know by now, market cap is used to identify the value of a cryptocurrency and compare it accurately against other cryptos.
In the world of cryptocurrency, market cap or market capitalization is a measure of crypto security. It is typically defined as the total circulating supply of tokens multiplied by the current price.
Market capitalization is an indicator of the amount of risk involved in crypto investment. Large cap cryptocurrencies present less risk but limit the growth potential substantially. Small cap cryptocurrencies inherently present more risk but have huge growth potential yielding tremendous rewards to early investors when they succeed.
We created a detailed article on the importance of market cap in cryptocurrencies. You can refer to it to understand the concept from a crypto trader’s point of view. Also, you can keep a track of the market cap right on the BlockBanc app. Here’s how you do it.
Log into the BlockBanc app and tap onto “Market.”
You will be presented with the top 100 Market Caps on your screen. Tap on the crypto you want to track. For the sake of our example, we are tapping on “Bitcoin.”
You will be presented with all data including the likes of 24h Volume, Circulating Supply, 24h High, 24h Low, Market Cap, etc. right on the screen itself.
Refer to our other BlockBanc tutorials
If you haven’t downloaded the BlockBanc app already, you can do so here.