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

How is Cosmos Market Cap calculated?

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

Cosmos Market Capitalization in USD = Number of ATOM in supply X Price of one Cosmos in USD

Since the price of Cosmos 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 Cosmos or predict the price of Cosmos.