The lead developer can bring all coins in to circulation tomorrow.
He probably won't
.And if everything goes to plan i think all coins are in circulation within a year.
A year seems highly optimistic for all the bytes to be released. At the time of writing, given the linked BTC amount, a bit less than 1.5% is to be distributed in the next round.
Anyway, coinmarketcap displaying the market cap based on coins in circulation doesn't seem illogical.