All terms
All termsAddressBlockBlock timeBlockchainConfirmationGasGweiHashMempoolNodePrivate keyPublic keySeed phraseTransactionWalletAll time high (ATH)Bear marketBull marketCandlestickCapitulationChart patternsDollar cost averaging (DCA)Funding rateLeverageLimit orderLiquidationLiquidityMarket capMarket orderOrder bookPosition sizingRisk managementSlippageSpreadSupport and resistanceTrendVolatilityVolumeWhaleAMMBridgeCEXDAODeFiDepegDEXFlash loanGovernance tokenImpermanent lossLiquidity poolLP tokenOraclePerpetual (perp)RestakingRWAStablecoinTVLWrapped tokenYield farmingAirdropAlphaApe inBagholderDegenDiamond handsFloor priceFOMOFUDGMHODLMaxiMeme coinMoonNFTNGMINormiePaper handsPFPRektShillSnapshotWAGMIAddress poisoningCold storageCustodyDue diligence (DYOR)Dusting attackExit scamFront runningHardware walletHoneypotHot walletMEVMultisigPhishingPump and dumpRug pullSandwich attackSelf custodySIM swapToken approvalTwo factor authenticationWallet drainerWash tradingAccount abstractionAppchainBlock explorerCirculating and total supplyConsensusData availabilityEVMFaucetFinalityForkFully diluted valuation (FDV)Gas warHalvingLayer 1Layer 2Layer 3MainnetMiningName serviceOptimistic rollupProof of stakeProof of workRollupShardingSidechainSlashingSmart contractStakingTestnetToken standardTokenomicsValidatorZero knowledge proofZK rollupArweave and the permawebComposabilityCross chain messagingdAppDecentralized identity (DID)DePINGameFi and play to earnIndexerInteroperabilityIPFSOnchain and offchainSession keysSmart accountSocialFiSoulbound tokenSybil resistanceToken gatingWeb2 vs Web3Web3
Definition
What the market cap would be if every token existed today.
FDV multiplies price by total eventual supply rather than circulating supply. The gap between market cap and FDV shows how much dilution is still coming.
A large gap is not automatically bad, but it means today's price is being set by a small float while a much larger supply waits.
In practice
A token with a 100 million market cap and a 2 billion FDV has 95 percent of its supply still to arrive.
Where to go next
Market capPrice multiplied by circulating supply. Far more useful than price alone.TokenomicsThe supply, distribution and incentive design of a token.Circulating and total supplyHow many tokens exist now versus how many will exist eventually.
More technology terms
Account abstractionAppchainBlock explorerCirculating and total supplyConsensusData availabilityEVMFaucetFinalityForkGas warHalving
Want this explained out loud?
Some of these land faster in conversation than in writing. Sessions are one to one and you can ask anything, including the things that feel too obvious to ask.