(abbr. Fully Diluted Valuation)
A hypothetical valuation of a project based on its maximum token supply — as if all tokens were already in circulation. FDV is calculated by multiplying the current token price by the maximum supply, including locked, reserved, and yet-to-be-issued tokens. The metric is used to assess a project's true implied value: when FDV significantly exceeds the current market cap, it signals potential token inflation.
A hypothetical valuation of a project based on its maximum token supply — as if all tokens were already in circulation. FDV is calculated by multiplying the current token price by the maximum supply, including locked, reserved, and yet-to-be-issued tokens. The metric is used to assess a project's true implied value: when FDV significantly exceeds the current market cap, it signals potential token inflation.