What is Bittensor's market cap?

Multiply the live TAO price by the circulating supply — around 9.6 million TAO as of 5 August 2026. The calculator above loads the current price and does this for you; the result updates the moment you change either field.

How do I calculate the TAO price at a given market cap?

Divide the target market cap by the circulating supply. The comparison field above does it directly and also shows the multiple against today's TAO price, which is usually the more sobering number.

What is Bittensor's fully diluted valuation?

FDV prices all 21 million TAO at the current price, including coins not yet circulating. The difference between FDV and market cap is the supply still to enter the market — worth knowing before you treat market cap as the whole picture.

How do you calculate crypto market cap?

Market cap = current price × circulating supply. A coin at $2 with 500 million coins in circulation has a $1 billion market cap. Note that it is circulating supply, not total supply — tokens still locked in vesting contracts or a treasury are excluded.

What is the difference between market cap and FDV?

Market cap uses only the coins in circulation today. Fully diluted valuation (FDV) prices every coin that will ever exist, including locked and unminted supply. A project with a $200M market cap but a $2B FDV has 90% of its supply still to hit the market.

Bittensor · TAO

Bittensor Market Cap Calculator

Calculate Bittensor (TAO) market cap from the live TAO price and circulating supply — plus FDV, and the price TAO would need to reach any target valuation.

Result

Enter values to see the result.

Using the Bittensor Market Cap Calculator

Market cap is simply the live TAO price multiplied by the number of coins in circulation, and this page does that with the current price loaded for you. The supply field starts at roughly 9.6 million TAO, which is where it stood on 5 August 2026 — supply moves, so check it against a market data source if you need an exact figure, and edit the field.

Bittensor's supply is bounded at 21 million TAO, so the fully diluted valuation is a real ceiling rather than an open-ended one. The MC/FDV row shows how much of that supply is already trading: the closer it is to 100%, the less future dilution is waiting for you, and for TAO that gap is currently 46%.

The comparison field answers the question people actually come here for: what would TAO be worth at some other valuation? Enter a target market cap and the calculator returns the implied TAO price and the multiple from here. It is arithmetic, not a forecast — reaching a larger cap means absorbing every holder willing to sell on the way, and tAO is one of the highest-beta assets in the market, moving on AI news and on subnet emission changes, with drawdowns to match.

Bittensor at a glance

Launched: 2021
Consensus: Yuma Consensus — validators score subnet miners
Max supply: 21,000,000 TAO
Issuance: Halves roughly every four years, mirroring Bitcoin
Structure: Independent subnets competing at separate tasks
Native staking: Yes — delegate to a validator

Frequently asked questions

What is Bittensor's market cap?: Multiply the live TAO price by the circulating supply — around 9.6 million TAO as of 5 August 2026. The calculator above loads the current price and does this for you; the result updates the moment you change either field.
How do I calculate the TAO price at a given market cap?: Divide the target market cap by the circulating supply. The comparison field above does it directly and also shows the multiple against today's TAO price, which is usually the more sobering number.
What is Bittensor's fully diluted valuation?: FDV prices all 21 million TAO at the current price, including coins not yet circulating. The difference between FDV and market cap is the supply still to enter the market — worth knowing before you treat market cap as the whole picture.
How do you calculate crypto market cap?: Market cap = current price × circulating supply. A coin at $2 with 500 million coins in circulation has a $1 billion market cap. Note that it is circulating supply, not total supply — tokens still locked in vesting contracts or a treasury are excluded.
What is the difference between market cap and FDV?: Market cap uses only the coins in circulation today. Fully diluted valuation (FDV) prices every coin that will ever exist, including locked and unminted supply. A project with a $200M market cap but a $2B FDV has 90% of its supply still to hit the market.

More TAO calculators

Bittensor Profit Calculator

Free Bittensor (TAO) profit calculator. Enter your buy and sell price to see TAO profit, loss, ROI and fees — prefilled with the live TAO price.

Bittensor DCA Calculator

Free Bittensor (TAO) dollar-cost-averaging calculator. Model recurring TAO buys to see coins accumulated, average entry and portfolio value at today's live price.

Bittensor Average Buy Price Calculator

Work out your weighted average Bittensor (TAO) entry price across multiple buys — and see exactly where your break-even sits.

Bittensor Staking Calculator

Estimate Bittensor (TAO) staking rewards over any period. Prefilled with a typical TAO reward rate and the live TAO price — edit both to match your validator.

Bittensor Liquidation Price Calculator

Find the exact Bittensor (TAO) price that liquidates your leveraged position. Prefilled with the live TAO price — set your leverage and direction.

Prefer the generic version without TAO presets? Open the Crypto Market Cap Calculator.

For educational purposes only. Rates, fees and protocol parameters change — verify current figures with your exchange or validator before acting. Not financial advice.