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Lesson 3 of 6 / Open to everyone

A tiny price can hide a big valuation.

Read price, supply, market cap and liquidity without confusing a large number with money you can withdraw.

The idea to keepMarket cap is a calculation. Liquidity determines how much trading a market can absorb.

Start with price and supply together

Market capitalization is the current token price multiplied by circulating supply. A low price per token does not make a project cheap: a token with a huge supply can still have a large market cap.

Fully diluted valuation (FDV) applies today's price to a broader supply figure. Providers may use total or maximum supply, so read the methodology. FDV is an illustration, not a prediction of future value. New supply can change price.

Read the source: CoinGecko: market cap and fully diluted valuation

A displayed valuation is not a cash reserve

Liquidity is the ability to trade without moving the price substantially. In a liquidity pool, your trade changes the balance of assets and can change the execution price. A large trade relative to the available liquidity generally has greater price impact.

Market cap does not tell you how much money is waiting to buy your tokens. You cannot assume that every holder could sell at the displayed price.

Read the source: Uniswap: price impact

Ask what each number actually measures

Trading volume measures activity over a period; it is different from available liquidity. A holder count measures addresses, not unique people. One person can use multiple addresses, and one custodian can serve many people. Use these numbers to form questions, not to award a token a safety score.

If a chart does not explain its supply or market data, write down that uncertainty. A blank answer is more useful than an invented one.

Try the arithmetic

Change the numbers.
See the relationship.

These are made-up values. Nothing here predicts a price or checks a real token.

Use a non-negative price up to $1 million and a whole-token supply up to 1 quadrillion.

Illustrative market cap$1,000,000$0.001 × 1,000,000,000 circulating tokens

This is not a liquidity estimate. It does not show how much you could sell or withdraw.

Check your understanding

One question before you go.

A token shows a $1 million market cap. Does that mean holders can collectively cash out $1 million?

Read the answer and explanation

Market cap multiplies a reference price by supply. Selling changes market conditions, and the liquidity available can be much smaller.

Your answer stays in this page and is not submitted. A correct answer is not a safety certification.

Reviewed September 11, 2026 by Community.fun. Suggest a correction.

Free education. No account, wallet or token required. Examples are fictional and are not recommendations to buy or sell. Crypto can result in total loss.