Market cap vs fully diluted value

Market cap uses the coins in circulation today; fully diluted value (FDV) uses the total supply that will ever exist.

What it means

A big gap between the two means many coins are still to come into circulation.

What to watch

The share of the supply that circulates, and when the rest is released.

How Compass-Alpha uses it

Background only; not used in any figure on Compass-Alpha.