Definition

Fully Diluted Valuation

Meaning ⎊ The total market value of a project calculated by multiplying the current price by the maximum possible token supply.
Greeks.liveApril 11, 2026

Fully Diluted Valuation

Fully diluted valuation (FDV) is the market capitalization of a project if all tokens that will ever exist were currently in circulation. This metric is essential in crypto because many projects have significant portions of their supply locked or yet to be minted.

Comparing the current market cap to the FDV provides insight into the potential dilution that existing holders will face over time. A high FDV relative to the current market cap can indicate that a project is overvalued or that significant future selling pressure is likely.

It is a standard tool for fundamental analysis, ensuring that investors account for the total supply of the asset, not just the current supply.

Risk Asset Valuation
Inventory Valuation
Hedging Inefficiency
Risk-Adjusted Value
Pricing Formula Errors
Asset Valuation Compression
Model Risk in Derivatives
Risk Adjusted Collateral

Glossary

Fully Diluted Valuation

Valuation ⎊ The fully diluted valuation, within cryptocurrency, options, and derivatives, represents the theoretical market capitalization of an asset or project if all outstanding shares, tokens, or options were exercised or converted.