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What is FDV in crypto: Gensyn's $160.2M FDV, 7.66x its cap

By NAUT Research · · 7 min read

7.66x FDV vs market cap Gensyn's $160.2M FDV against its $20.9M market cap, read on NAUT on 4 November 2026. Logos: Gensyn.

What is FDV in crypto: fully diluted valuation, the token price multiplied by the total supply, so it prices a project as if every token that will ever exist is already trading. NAUT tracks 2,032 launched tokens carrying both a live FDV and a live market cap, and on 4 November 2026 one of them, Gensyn, showed an FDV of $160,245,902 against a market cap of $20,906,887, a gap of 7.66x, because only 13.05% of its 10,000,000,000 token supply was circulating.

Data note. Every figure here was read from NAUT's database on 4 November 2026, with the token market fields synced from CoinGecko and refreshed on 3 November 2026 at 20:30 UTC. Scope: 1 worked project record (Gensyn) plus the distribution across the 2,032 launched-token rows that hold both a live FDV and a live market cap. 2 claims went through an outside source check: the live supply and market figures, and the pre-sale raise with its sale-time valuation. The 2,032-row median is NAUT's own data and was not checked row by row against an outside source. coingecko.com returned HTTP 403 to NAUT's fetch, so the public CoinGecko API was read live instead; it returned an FDV of $160,538,574, a market cap of $20,945,071 and a circulating supply of 1,304,675,313, within rounding of the figures NAUT holds. Written by NAUT Research.

What is FDV in crypto, and how is it calculated?

Fully diluted valuation takes the current price and applies it to every token in the total supply, including the tokens still locked in a team allocation, an investor tranche, a treasury or an emissions schedule. Market cap applies the same price only to the tokens in circulation today. The 2 numbers answer different questions: market cap says what the traded float is worth now, FDV says what the project is priced at once the whole supply is liquid. The distance between them is set by 1 thing, the crypto token supply still waiting to unlock. Here is how the 2 read for Gensyn on 4 November 2026.

Measure Formula Gensyn (AI)
Price last traded price $0.0160274
Circulating supply tokens held by holders, the tradable float 1,304,675,313 AI
Market cap price x circulating supply $20,906,887
Total supply every token that will exist 10,000,000,000 AI
FDV price x total supply $160,245,902
FDV / cap gap FDV divided by market cap 7.66x

What is FDV vs market cap worth knowing for a live deal?

The gap between the 2 figures is a supply calendar in 1 number. Gensyn's 7.66x says that for every dollar of AI trading today, 7.66 dollars of token value exists at the same price once the full 10,000,000,000 supply is out, so a buyer at $0.0160274 is buying into a float that can grow nearly 8 times before the schedule is finished. NAUT's tokenomics record for the project holds the other half of that story: the AI token sale on the Sonar launchpad priced the token at a $1,000,000,000 FDV with 13.1% of supply circulating at launch, and the live FDV on 4 November 2026 was $160,245,902.

Reading Sonar sale Live, 4 Nov 2026
FDV $1,000,000,000 $160,245,902
Circulating % 13.1% 13.05%
Market cap not held on NAUT's record for the sale $20,906,887

NAUT's record also shows Gensyn raised $50.6M before that sale, names 18 investor firms on its funding record, and the project's token trades on 22 exchanges at market cap rank 819.

How wide is the FDV gap across NAUT's tracked tokens?

Across the 2,032 launched tokens on NAUT that carry both a live FDV and a live market cap, the median FDV to market cap multiple is 1.23x, so the typical tracked token has most of its supply already circulating. 839 of those 2,032 rows, 41.3%, sit at 1.5x or wider. Gensyn's 7.66x puts it in the 95.7th percentile of that set, which is the signal worth acting on: a project priced 7 or 8 times above its float is rare even in a sample where 4 rows in 10 carry real dilution ahead of them.

What FDV means for a founder raising at a token price

  • A sale FDV is a promise about the whole supply, and the market repriced Gensyn's from $1,000,000,000 at the Sonar sale to $160,245,902 on 4 November 2026 while the circulating share barely moved, from 13.1% to 13.05%.
  • Investors reading your deck will compute the same 2 numbers you do. Publishing the total supply, the circulating share and the unlock schedule beside the raise removes the question before it is asked.
  • A low circulating share at launch flatters the market cap and raises the FDV multiple. 839 of NAUT's 2,032 tracked launched tokens sit at 1.5x or wider, so a committee has 839 comparisons to hold your number against.
How a founder prices a token round
  1. Publish both numbersState price x circulating supply and price x total supply, the way Gensyn shows $20,906,887 against $160,245,902.
  2. Benchmark the multipleThe median across NAUT's 2,032 tracked launched tokens is 1.23x, and 41.3% sit at 1.5x or wider.
  3. Show the unlock calendarA 13.05% circulating share is the reason behind a 7.66x gap, so the schedule answers the gap.
  4. Name the comparablesPull the projects at your multiple from NAUT and put their FDV beside yours in the deck.

What FDV means for an investor sourcing token deals

  • A market cap screen alone will rank a project like Gensyn at $20,906,887 and hide the $160,245,902 the same price implies for the full supply.
  • The FDV to market cap multiple sorts a watchlist by supply risk in 1 pass. 1.23x is the median across the 2,032 rows, and 7.66x is the 95.7th percentile.
  • The sale-time FDV is the anchor to check against. Gensyn's sale was priced at a $1,000,000,000 FDV and the live figure on 4 November 2026 was $160,245,902, which tells you how the market reset the whole-supply price rather than the float price.
How an investor screens on FDV
  1. Sort by the multipleRank your list by FDV divided by market cap, where NAUT's median across 2,032 launched tokens is 1.23x.
  2. Flag the tail839 of the 2,032 rows sit at 1.5x or wider; Gensyn at 7.66x is the 95.7th percentile.
  3. Read the tokenomics rowCheck the circulating share, 13.05% for Gensyn, and the sale FDV, $1,000,000,000.
  4. Reach the teamOpen the project's NAUT page for its people and their channels before you write the memo.

How to reach the team behind a token you are pricing

Every number above sits on 1 NAUT page. The Gensyn project page carries the live price, market cap, FDV, circulating and total supply, the tokenomics record from the Sonar sale, the $50.6M raised before it, the 18 investor firms on the funding record, and the people on the team with the channels NAUT holds for each of them. For a deal maker that is the full job in 1 place: price the token on the market fields, then open the team list and contact the person who can answer for the unlock schedule.

Related reading on NAUT: What is a TGE: 22 token launches and the $11.56B behind them and Crypto token unlocks: Monad's 6.84B cliff after 12 months at 0.

Can you pull this data through the NAUT API?

Yes. GET https://api.naut.so/v1/projects/gensyn returns the Gensyn record this article is worked on, with the project's own fields and its team, at 5 credits a call, and GET https://api.naut.so/v1/projects?token=launched&limit=100 pages through the launched-token rows behind the 2,032-row comparison. Keys are minted at https://naut.so/developer and plans start at Essential $49 a month for 3,000 credits, listed at https://naut.so/pricing, with calls authorised as Authorization: Bearer $NAUT_KEY. Verified Telegram, email and LinkedIn for the people on those records unlock on any paid NAUT plan, so start a 7-day trial at https://naut.so.

What is FDV FAQ

What does FDV mean in crypto?

FDV means fully diluted valuation: the current token price multiplied by the total supply that will ever exist, which is why Gensyn showed a $160,245,902 FDV on 4 November 2026 while only 1,304,675,313 of its 10,000,000,000 tokens were circulating.

What is the difference between FDV and market cap?

Market cap multiplies the price by the tokens circulating today and FDV multiplies the same price by the total supply, so for Gensyn on 4 November 2026 the 2 readings were $20,906,887 and $160,245,902, a gap of 7.66x.

Is a high FDV to market cap gap normal?

Across the 2,032 launched tokens NAUT tracks with both figures live, the median gap on 4 November 2026 was 1.23x and 839 rows, 41.3%, sat at 1.5x or wider, so Gensyn's 7.66x is in the 95.7th percentile and far from typical.

How do you calculate FDV from a token's supply?

Multiply the live price by the total supply: at $0.0160274 and a 10,000,000,000 token supply, Gensyn's FDV on NAUT's record was $160,245,902 on 4 November 2026.

Where can I find the FDV, supply and team for a crypto project?

NAUT's project pages hold them together, and the 2,032 launched tokens with a live FDV and market cap are reachable through GET https://api.naut.so/v1/projects?token=launched at 5 credits a call. Verified Telegram, email and LinkedIn for the people on those project records unlock on any paid NAUT plan, so start a 7-day trial at https://naut.so.

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