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FDV vs Circulating Market Cap: A Practical Guide
A clear, data-driven guide to fdv vs circulating market cap.
Two numbers, two questions
Circulating market cap is price × tokens currently tradable and tells you what the market pays for today's float. Fully diluted valuation is price × maximum (or total) supply and tells you what the market implicitly pays for every token that will ever exist, including locked team, investor and treasury allocations.
The float ratio
Float ratio = circulating ÷ total supply. Bitcoin is above 93 percent; many 2024 launches listed with 10–20 percent float. A low ratio means future unlocks must be absorbed by new demand, otherwise price falls to keep market cap roughly constant as supply grows.
Worked example
A token trades at $2 with 100 million circulating and 1 billion total. Market cap is $200 million, FDV is $2 billion, float is 10 percent. If 50 million tokens unlock and holders sell 40 percent, $40 million of extra sell pressure hits order books.
When FDV misleads
Some supplies are uncapped (ETH, SOL), so FDV uses total current supply. Burns can reduce max supply, and treasury tokens may never be sold. Compare FDV with revenue or TVL rather than in isolation.
Checklist
Read the tokenomics document, map cliffs and linear vesting, note emissions for staking or liquidity mining, and calculate the percent of current float that unlocks each month.
By the numbers
For FDV vs Circulating Market Cap, the reference figures are topic of FDV vs Circulating Market Cap, level of Intermediate, updated of 2026. The comparison table below lines up token example, price, circulating, total, float — A: $2 / 100M / 1B / 10%; B: $10 / 800M / 1B / 80%; C: $0.50 / 3B / 10B / 30%.
Modeling FDV vs Circulating Market Cap with the FDV Dilution Calculator
The FDV Dilution Calculator takes three inputs — Circulating supply (M), Max supply (M), Price ($). Dilution = 1 − circulating ÷ max supply; FDV = price × max supply. With its default inputs (Circulating supply (M) = 400; Max supply (M) = 1000; Price ($) = 2) it returns 60 %; swap in the figures from FDV vs Circulating Market Cap above to reproduce the scenario yourself.
Modeling FDV vs Circulating Market Cap with the Circulating Float Ratio Analyzer
The Circulating Float Ratio Analyzer takes three inputs — Circulating (M), Total supply (M), Price ($). Float ratio = circulating ÷ total supply. With its default inputs (Circulating (M) = 300; Total supply (M) = 1000; Price ($) = 5) it returns 30 %; swap in the figures from FDV vs Circulating Market Cap above to reproduce the scenario yourself.
Data Table
| Token example | Price | Circulating | Total | Float |
|---|---|---|---|---|
| A | $2 | 100M | 1B | 10% |
| B | $10 | 800M | 1B | 80% |
| C | $0.50 | 3B | 10B | 30% |
Frequently Asked Questions
Is a high FDV always bad?
No, if revenue and demand grow faster than supply.
What is a good float ratio?
There is no single threshold; under 20 percent signals heavy future dilution.
Do burns change FDV?
Yes, burns reduce supply and therefore FDV at a given price.
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For educational and informational purposes only. Not financial, investment, tax or legal advice. Figures are approximate and historical; crypto assets are volatile and you may lose capital. Do your own research.