What remains outside circulation, and how float shapes price sensitivity.
| Concept | Explanation | |---|---| | Circulating market cap | Price multiplied by circulating supply. | | Fully diluted valuation | Price multiplied by maximum or total potential supply. | | FDV-to-market-cap ratio | Indicates how much supply remains outside circulation. | | Float | Tokens realistically available for trading. | | Holder concentration | Share of supply controlled by large wallets, insiders, or treasuries. |
A high FDV with low circulating supply can create significant future dilution. A low float can also make price sensitive to small changes in demand.