Markets
FDV (Fully Diluted Valuation)
Token price multiplied by max supply, including unreleased tokens.
Fully Diluted Valuation = price × max supply. It represents the project's market cap if every token that will ever exist were already in circulation.
A wide gap between market cap and FDV is a warning sign: it means a large portion of supply is still locked and will eventually hit the market through vesting unlocks, potentially diluting existing holders.