Fully Diluted Valuation (FDV) is a crypto metric that represents the total market capitalization of a token assuming all tokens that will ever exist are already in circulation today. For Solana (SOL), FDV = SOL current price × total supply. It is a forward-looking measure that helps investors understand the maximum theoretical value of the network.
Market cap uses only the circulating supply — the tokens actively traded in the market. FDV uses the total supply, including locked, vested, or not-yet-issued tokens. For SOL, the circulating supply is approximately 574 million, while total supply is 624 million. This means SOL FDV is slightly higher than its market cap, reflecting a relatively small dilution gap compared to many other crypto projects.
A high FDV relative to current market cap signals significant future token inflation — meaning more supply may hit the market, potentially suppressing price. For Solana, the gap between FDV and market cap is narrow (roughly 8–9%), which is considered healthy. This indicates most SOL tokens are already in circulation, reducing inflation risk and making FDV a more reliable valuation signal.
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