Marketcap is determined by this equation: coins in circulation * price of coin = total marketcap
A common mistake while trying to calculate marketcap is looking at the total supply or max supply but that is incorrect. You must you the current amount in circulation as that
gives you the correct answer
Exactly, however if coins are distributed to the team or company and they are in their hands and not time-locked they should also be counted in.
If they are locked then you count them when they are released after a milestone is achieved for example.
So as long as they are distributed to the team and aren't specified as being time-locked then they should be counted in as circulated correct?