Live · updated 3 minutes ago
Cap Price chart
Key stats
Performance
How the price moved over each period.
Supply
1.56B of 10.00B CAP are in circulation.
- Circulating
- 1.56B
- Total supply
- 10.00B
- Max supply
- 10.00B
ⓘ Circulating · Total supply · Max supply
Circulating supply: coins currently available to trade, as reported by the data provider.
Total supply: coins created so far, minus any burned. It includes locked or not-yet-released coins.
Max supply: the hard cap on coins that can ever exist. Shown as “No max supply” when the protocol sets no cap.
CryptoWave Health score
Five measurable signals. Each ring segment’s length is its weight; how full it is shows the score.
Volume is 18.79% of market cap. Trades easily.
$116.29M market cap, rank #236. Bigger is harder to push around.
16% of the maximum supply circulates. Big unlocks could dilute holders.
26.0% below its all-time high of $0.1008.
Largest recent swing: 8.62% a day. Volatile.
Describes market structure today. Not a price forecast and not investment advice.
How this score is calculated
A weighted average of five signals computed from the market data on this page. Each signal is scored from 0 to 100:
- Liquidity (25%): 24-hour trading volume divided by market cap.
- Market depth (25%): market cap, on a logarithmic scale from $10 million to $1 trillion.
- Supply (15%): circulating supply divided by max supply, or by total supply when there is no cap. More supply already in circulation scores higher.
- Distance from peak (15%): the current price compared with the all-time high.
- Stability (20%): the largest recent price swing among the 1-hour move (×3), the 24-hour move and the 7-day move (÷2.6).
Bands: 75 and above strong, 55–74 fair, 35–54 weak, below 35 fragile.
Limits: the score describes current market structure only. It is not a price forecast, an audit or investment advice, and it does not consider the team, code or token unlocks. A missing input counts as a neutral 50.
Time machine
Drag the date. See what a one-off buy or a regular buy would be worth today. Real daily closing prices, fees not included.
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What is Cap (CAP)?
Cap is a credit platform on Ethereum, built by Cap Labs, that connects lenders with underwriters who back loans with their own capital. Each loan is underwritten with escrowed collateral to secure the lender. Underwriters originate and insure USD loans, commit their own capital, and earn premiums from credit spreads, while smart contracts enforce the risk coverage. CAP is the platform's governance token.
How Cap works
The system has a few moving parts:
- cUSD is the platform's stablecoin, designed to be redeemable one to one and backed by assets such as PayPal's PYUSD, BlackRock-managed BUIDL and Franklin Templeton's BENJI.
- stcUSD is a vault token that users receive by staking cUSD, and it is the route to yield.
- Operators borrow against the system and are underwritten by delegated collateral.
- Restakers lock capital through EigenLayer or Symbiotic to underwrite operators, and they face slashing if an operator defaults.
The idea is that borrowers are not backed only by overcollateralized crypto. Credit risk is covered by restaked capital that can be slashed. Cap raised $11 million in seed funding in April 2025 from investors including Franklin Templeton, Susquehanna, Triton Capital, Flow Traders, Laser Digital, GSR and IMC Trading.
CAP supply and token design
CAP is a governance token. Cap Labs sold part of the supply through a public batch auction that attracted 1,002 bids and $16.4 million in commitments, clearing at $0.011 per token. Live circulating supply is shown in the market data on this page.
CAP is deployed on Ethereum and BNB Chain at the same address, 0x99991c6aabba5a096f24f250b73580f5179b9999. Verify it on the official site, because governance tokens for credit protocols are a common target for lookalike contracts.
Official information is on cap.app.
What to check before using CAP
- cUSD is only as sound as its backing assets and redemption rules. A depeg or an issue at an underlying asset provider would affect it.
- Restaking and slashing add layers of smart contract and operator risk on top of ordinary lending risk.
- Credit losses in a lending system can fall on underwriters first, but a severe default could still stress the whole system.
- CAP is governance only. Holding it does not give a claim on cUSD reserves or loan repayments.
- Read the protocol's risk documentation and audits before depositing, as the design is newer than traditional DeFi lending.
Cap project profile
- Consensus
- PoW/P
- Open source
- No
Token contracts
- Ethereum:
0x99991c…9b9999 - BNB Chain:
0x99991c…9b9999
Always confirm links on the project's own official channels before connecting a wallet or sending funds.
Cap market analysis
With a market capitalisation of $116.29 million, Cap (CAP) is classed as a small-cap asset and ranks #236 of 406 cryptocurrencies with a reported market cap on CryptoWave, larger than about 41.9% of them. It accounts for roughly under 0.01% of the combined tracked market value. Small-cap assets can move quickly on news or exchange listings, and liquidity can thin out fast in sell-offs.
Over the last 24 hours roughly $21.85 million of CAP changed hands, equal to 18.79% of its market cap, which puts its trading volume ahead of about 76.8% of tracked assets. That is an active level of turnover for an asset of this size. Its turnover ratio is higher than that of about 94% of tracked assets.
Price action: CAP moved +3.55% in 24 hours and −22.41% over 7 days. It outperformed Bitcoin by 5.73 percentage points over 24 hours but underperformed it by 18.82 points over 7 days. Against the median tracked coin (ahead by 5.55 points on the day and behind by 17.92 points on the week), it has been a relative laggard in recent sessions.
To overtake Theo Short Duration US Treasury Fund (THBILL) just above it, Cap would need to grow its market cap by about 0.5%; it is 0.2% larger than Nest BlackOpal LiquidStone II Vault (NOPAL) just below. Its market cap is under 0.01% of Bitcoin's.
Based on market data; not investment advice.
Cap FAQ
What is Cap (CAP)?
Cap is a credit platform on Ethereum where underwriters back loans with restaked or escrowed collateral. CAP is its governance token.
What is cUSD?
cUSD is Cap's stablecoin, designed to be redeemable one to one and backed by assets such as PYUSD, BUIDL and BENJI.
How did CAP launch?
Cap Labs sold part of the CAP supply in a public batch auction that cleared at $0.011 per token with 1,002 bids.
Is CAP a good investment?
CAP is a volatile governance token and this page is not financial advice. Consider the credit, restaking and stablecoin risks above before deciding.
Price history
| Date | Open | High | Low | Close |
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Historical price data is not available yet for this asset. | ||||