FDV
Last updated 17 October 2026Last verified 17 October 2026
What is FDV (fully diluted valuation)?
Fully Diluted Valuation. A token's price multiplied by its maximum eventual supply, not just the supply circulating today. A low circulating market cap next to a high FDV warns of heavy future token unlocks that can dilute existing holders.
TradFi equivalentFully diluted market capitalization, the same calculation applied to a token's maximum supply. A wide gap to circulating value signals an overhang of issuance still to come.