Market Capitalization(Market Cap)
The total value of a token's circulating supply, calculated as price × circulating supply.
In-Depth Explanation
Market cap = Token Price × Circulating Supply. It's the most common measure of a token's size but can be misleading if circulating supply is small relative to total supply. Always check FDV alongside market cap to understand potential dilution.
Related Terms
More in Valuation
View all →Fully Diluted Valuation
FDVThe theoretical market cap if all tokens (including locked, unvested, and unissued) were in circulation.
Price to Sales Ratio
P/SValuation metric comparing market cap (or FDV) to annualized revenue.
Price to Fees Ratio
P/FValuation metric comparing market cap (or FDV) to total fees generated, regardless of fee distribution.
Tokenholder Revenue
The portion of protocol revenue that actually flows to token holders through buybacks, dividends, or burns.