Crypto Education
Crypto Metrics Glossary: Market Cap, FDV, Supply and Liquidity
Last updated 27 August 2026
Most disagreements about a token trace back to two people using the same word for different things. These are the definitions used consistently across this platform.
Key points
- Market capitalisation: last price multiplied by circulating supply.
- Fully diluted valuation (FDV): last price multiplied by total or maximum supply.
- Circulating supply: units currently available, excluding locked or unissued tokens.
- Liquidity: the depth available to absorb an order without large price impact.
- Volume: value traded in a window; high volume can accompany either direction.
- Dominance: one asset's share of total tracked market capitalisation.
Data and sources
- Definitions are conventions used consistently in this product; any figure shown next to them on live pages comes from CoinGecko with a timestamp.
Methodology
Where a provider reports both total and maximum supply, FDV uses the figure the provider designates for dilution.
If circulating supply is unreported, market cap is shown as Unavailable rather than derived from an assumption.
Frequently asked questions
- Why can market cap and FDV differ so much?
- A large gap indicates a significant share of supply is not yet circulating, which is typically governed by a vesting schedule.
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Not Financial Advice. This platform provides market data, research tools and analytical information for educational and informational purposes only. It does not provide personalized financial, investment or trading advice. Crypto assets are highly volatile and may result in loss of capital. Past performance does not guarantee future results. Users should conduct their own research and consider professional advice where appropriate.