You can check out above graph to see how the market cap of eBTC has changed over time. The market cap value depends on the value of eBTC on that particular day and number of eBTC in supply at that day.

How is eBTC Market Cap calculated?

The eBTC Market cap is calculated using a simple formula. You can find it below:

eBTC Market Capitalization in USD = Number of EBTC in supply X Price of one eBTC in USD

Since the price of eBTC is highly volatile you can see the market cap going up and down a lot. Sometimes price and market cap are not linear to each other due to increase in the supply of coins in the market and stable or decrease in the price of the coin. So you can say that it's not simple to predict the market cap of eBTC or predict the price of eBTC.