Glossary
Market cap
Price multiplied by circulating supply. It describes what the last trade implies, not what could be realised — a large market cap over a small pool of liquidity is a number, not money.
See also
Fully diluted valuationPrice multiplied by total eventual supply. The gap between FDV and market cap is the value of tokens not yet in circulation, which will have to be sold to someone.
LiquidityHow much can be bought or sold without moving the price much. Thin liquidity is what turns a paper gain into an exit you cannot take.
Last checked 19 Oct 2026.