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HBAR Market Capitalization

Overview

The HBAR Market Capitalization statistic represents the total market value of all circulating HBAR tokens. This metric is calculated by multiplying the current HBAR price by the circulating supply, providing a key indicator of Hedera's overall market valuation and position within the cryptocurrency ecosystem. Market capitalization is one of the most important metrics for assessing the relative size and value of a cryptocurrency project.

Hedera Data Access

To access this Hedera network statistic (and others) via Hgraph's GraphQL & REST APIs, get started here.

Hedera Stat Name: hbar_market_cap

Methodology

  • Calculation Formula: Market Cap = (HBAR Price × Circulating Supply) / 100,000,000,000
  • Components:
    • HBAR Price (avg_usd_conversion): The aggregated price from major exchanges, stored as price × 100,000
    • Circulating Supply (hbar_total_released): The released HBAR supply in tinybars (1 HBAR = 100,000,000 tinybars)
  • Implementation:
    • Joins the avg_usd_conversion and hbar_total_released metrics from the ecosystem.metric table
    • Performs the multiplication: (price_x100000 × supply_tinybars) / 100,000,000,000
    • Result is stored in cents (×100) for financial precision
    • To display in USD, divide the result by 100

Data Representation

The market cap metric provides a time-series view of HBAR's total market valuation. Each data point represents the market capitalization at a specific point in time, calculated using the price and circulating supply at that moment.

The metric is available for multiple time periods (hour, day, week, month, quarter, year) to support various analysis needs. Values are stored in cents to maintain precision in financial calculations.

Additional Notes

  • Historical Data Limitation: Market cap data is only available from December 9, 2024 onwards, as this is when avg_usd_conversion price data collection began
  • Real-time Updates: The metric updates automatically via scheduled job procedures for all supported time periods
  • Market Cap vs Total Supply: This metric uses circulating supply (hbar_total_released) not total supply (50B HBAR) for accurate market valuation
  • Precision: Storing in cents (×100) ensures no loss of precision in financial calculations
  • Performance: The calculation leverages existing pre-computed metrics for optimal query performance

GraphQL API Examples

Test out these queries using our developer playground.

Fetch current HBAR market cap

query GetCurrentMarketCap {
metric: ecosystem_metric(
where: {name: {_eq: "hbar_market_cap"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 1
) {
total
end_date
}
}

Fetch daily market cap (timeseries, 30 days)

query GetDailyMarketCap {
metric: ecosystem_metric(
where: {name: {_eq: "hbar_market_cap"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 30
) {
total
start_date
end_date
}
}

Fetch hourly market cap changes (24 hours)

query GetHourlyMarketCap {
metric: ecosystem_metric(
where: {name: {_eq: "hbar_market_cap"}, period: {_eq: "hour"}}
order_by: {end_date: desc_nulls_last}
limit: 24
) {
total
start_date
end_date
}
}

Calculate 7-day market cap change

query Get7DayMarketCapChange {
current: ecosystem_metric(
where: {name: {_eq: "hbar_market_cap"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 1
) {
total
end_date
}
weekAgo: ecosystem_metric(
where: {name: {_eq: "hbar_market_cap"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 1
offset: 7
) {
total
end_date
}
}

Market cap with price and supply components

query GetMarketCapComponents {
marketCap: ecosystem_metric(
where: {name: {_eq: "hbar_market_cap"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 1
) {
total
end_date
}
price: ecosystem_metric(
where: {name: {_eq: "avg_usd_conversion"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 1
) {
total
}
supply: ecosystem_metric(
where: {name: {_eq: "hbar_total_released"}, period: {_eq: "day"}}
order_by: {end_date: desc_nulls_last}
limit: 1
) {
total
}
}

Note: Divide the market cap total response by 100 to convert from cents to USD. For price, divide by 100000. For supply, divide by 100000000 to get HBAR.

Available Time Periods

The period field supports the following values:

  • hour
  • day
  • week
  • month
  • quarter
  • year

Each period provides market cap data aggregated at that time interval, enabling both detailed and high-level analysis of market valuation trends.

SQL Implementation

Below is a link to the Hedera Stats GitHub repository. The repo contains the SQL function that calculates the HBAR Market Capitalization statistic outlined in this methodology.

SQL File: src/metrics/hbar-defi/hbar_market_cap.sql

View GitHub Repository →

Dependencies

  • Metrics Required:
    • avg_usd_conversion - HBAR price data from exchanges
    • hbar_total_released - Circulating supply data
  • Database:
    • ecosystem.metric table for accessing pre-computed metrics
  • Scheduled Jobs:
    • Automated updates via pg_cron job procedures (hourly, daily, weekly, monthly, quarterly, yearly)