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

How is Elastic Market Cap calculated?

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

Elastic Market Capitalization in USD = Number of XEL in supply X Price of one Elastic in USD

Since the price of Elastic 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 Elastic or predict the price of Elastic.