# FDV



Fully Diluted Valuation represents the theoretical total market capitalisation of ALKIMI if all 1 billion tokens were in circulation at the current market price. It's calculated by multiplying the current token price by the maximum supply of 1,000,000,000 ALKIMI.

Understanding FDV [#understanding-fdv]

FDV is useful for comparing relative valuations across crypto projects, but it doesn't reflect the actual circulating market cap. Because a significant portion of ALKIMI's supply is locked in vesting schedules and staking pools, circulating supply is substantially lower than max supply.

Evaluating ALKIMI's Valuation [#evaluating-alkimis-valuation]

When evaluating ALKIMI's valuation, consider both:

* **Circulating market cap** (current price × circulating supply) for near-term assessment
* **FDV** (current price × 1B max supply) for long-term perspective

The gap between the two narrows over time as vesting schedules complete.