The value of the network if every token that will ever exist were circulating today, at today's price.
Last verified 13 September 2026 · written by the DexLadder team
What it means
The value of the network if every token that will ever exist were circulating today, at today's price.
Why it matters when you trade
FDV is the honest ceiling next to market cap's flattering floor. A wide gap between the two is a promise of future supply, and that supply is usually owned by people with a much lower cost basis than yours. Comparing projects by market cap alone while their FDVs differ by an order of magnitude is comparing different things.
Worked example
$200M market cap with $4B FDV means 95% of supply is still to arrive — a headwind independent of adoption.
See it on live markets
DexLadder runs fully diluted valuation (fdv) against live market and pool data, with simulated capital, so you can watch it act on an order instead of reading about it — no account, no wallet, nothing installed.