Fully Diluted Valuation (FDV)

Fully Diluted Valuation (FDV) is the theoretical market cap of a token if its entire maximum or total supply were in circulation at the current price.

FDV answers what a token would be worth if all tokens, including those still locked, vested or unminted, were trading at today's price. It is always at or above market cap, and the gap signals how much future supply could enter circulation and dilute holders. Comparing FDV to market cap helps assess emission overhang. In our API, FDV is derived by combining a spot price read with total or maximum supply from token metadata.