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How do I calculate if a selected crypto coin (Eg: Cardano) needs to reach USD X (eg USD 100), how much market capitalization required?
I want to know this because of the quora.com following answer.
For Cardano to hit $100 it would need to reach a 3 Trillion dollar market cap. You'll notice that Bitcoin is close to hitting a 1 Trillion market cap and the crypto market as a whole has increased substantially over the past few years to around 1.5–1.8 Trillion. (link)
The formula for the market capitalization of a cryptocurrency is:
current market capitalization = number of coins currently in existence * current price per coin
At the moment (2021-05-11), there are about 32 billion Cardano coins in existence (source). If the price of one Cardano coin were $100 right now, Cardano's current market capitalization would be approximately 32,000,000,000 * $100 = $3,200,000,000,000 (i.e. $3.2 trillion). However, this calculation would need to be adjusted if you are doing the calculation in the future, because (a) the price in the future may be different, and (b) the number of Cardano coins in existence will increase.
