What is Hyperliquid's market cap?

Multiply the live HYPE price by the circulating supply — around 222.4 million HYPE 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 HYPE 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 HYPE price, which is usually the more sobering number.

What is Hyperliquid's fully diluted valuation?

FDV prices all 1 billion HYPE 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.

Hyperliquid · HYPE

Hyperliquid Market Cap Calculator

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

Result

Enter values to see the result.

Using the Hyperliquid Market Cap Calculator

Market cap is simply the live HYPE 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 222.4 million HYPE, 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.

Hyperliquid's supply is bounded at 1 billion HYPE, 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 HYPE that gap is currently 22%.

The comparison field answers the question people actually come here for: what would HYPE be worth at some other valuation? Enter a target market cap and the calculator returns the implied HYPE 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 hYPE moves on protocol revenue and on unlock schedules, and a large share of supply is still vesting — worth checking the unlock calendar before sizing a position.

Hyperliquid at a glance

Launched: Token November 2024; exchange live since 2023
Consensus: HyperBFT proof-of-stake, ~1-second blocks
Max supply: 1,000,000,000 HYPE
Distribution: No venture round; ~70% allocated to the community
Fee use: Net trading fees buy HYPE back via the Assistance Fund
Native staking: Yes — delegate to a validator

Frequently asked questions

What is Hyperliquid's market cap?: Multiply the live HYPE price by the circulating supply — around 222.4 million HYPE 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 HYPE 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 HYPE price, which is usually the more sobering number.
What is Hyperliquid's fully diluted valuation?: FDV prices all 1 billion HYPE 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 HYPE calculators

Hyperliquid Profit Calculator

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

Hyperliquid DCA Calculator

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

Hyperliquid Average Buy Price Calculator

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

Hyperliquid Staking Calculator

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

Hyperliquid Liquidation Price Calculator

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

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

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