Fully diluted valuation calculator
Work out a crypto token's market cap and fully diluted valuation (FDV), how much of the supply is circulating, and what the price would be if every token were out at today's market cap. Free, no sign-up, nothing leaves your browser.
The starting numbers are only an example, not a real token. Find a token's supply figures on its project site or a market data site.
Market cap versus FDV
Market cap is a token's price times the tokens circulating today. Fully diluted valuation (FDV) is the same price times the maximum number of tokens that will ever exist. When most tokens are still locked up for teams, investors or future rewards, FDV can be many times the market cap.
Why the gap matters
Tokens that are not yet circulating are usually released over time through unlocks and rewards. If demand doesn't grow as fast as supply, each token's share of the value shrinks. A big gap between FDV and market cap is a sign to check the project's unlock schedule. Some tokens, like Ether, have no fixed maximum supply, so FDV is only a snapshot of today's total.
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