phycology

FDV (Fully Diluted Valuation) is the total market value of a cryptocurrency if every single token that will ever exist is in circulation.

Simple Formula

\[ \text{FDV} = \text{Current Token Price} \times \text{Total Maximum Supply} \]

Example

Token price = $0.20

Total supply = 1,000,000,000 (1 billion)

FDV = $0.20 × 1,000,000,000 = $200 million

Key Points

Market Cap uses only the circulating supply (tokens already unlocked and trading).

FDV uses the total/maximum supply (including locked, vested, future emissions, etc.).

Market Cap = Price × Circulating Supply
FDV = Price × Total Supply

Why FDV matters

Shows the potential valuation if the project fully unlocks all tokens.

Helps compare projects fairly (especially early-stage ones with low circulating supply).

High FDV + low circulating supply can mean big future sell pressure when tokens unlock.

TermMax ($TMX) context

Total supply = 1,000,000,000 TMX (fixed)

If pre-market price implies ~$0.17, then FDV ≈ $170 million

Would you like a quick comparison of Market Cap vs FDV or how unlocks affect it?
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