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Hyperliquid’s FDV increased 2.4x due to tight supply and high demand.
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Despite supply growth, Ondo’s FDV surged by 3.7x. Demand outpaced dilution risk.
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Rapid unlocking caused FDV collapses on Dymension, Wormhole StarkNet and XAI tokens.
Tokenomists’ data shows that a recent analysis of 10 cryptocurrency tokens launched by 2024 revealed dramatic changes in their Fully Diluted Values (FDV).
The FDV, or total market cap of a token based on the maximum supply, fluctuated wildly depending on demand and supply dynamics.
High Flyers: Soaring Demand and Limited Supply Boost FDV
According to Tokenomists, Hyperliquid ($HYPE), Ondo (“ONDO”), and Celestia (“TIA”) outperformed all the others with notable FDV gains.
$HYPE’s FDV increased by 2.4x, from $6.5 billion up to $15.9billion. This increase occurred despite the slight decrease in token supply, from 370 to 333 millions tokens. This suggests controlled supply management or token buying backs.
The price rose 145% while the market cap increased 120%, highlighting the strength of demand. The market’s ability absorb this liquidity is crucial, as 11.88% of the supply will be released within a year.
$ONDO’s FDV surge was even more dramatic, 3.7x. It reached $8.2 billion. The circulating supply of $ONDO has more than doubled but the price increase indicates that demand is outpacing supply.
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Celestia ($TIA), a company that is a part of the TIA group, also saw its FDV rise by 70% to $3.9 billion. This was largely due to a steady increase in prices.
A significant cliff release in 2025, which would account for 61.40% supply, could still test future liquidity. $TIA’s FDV increased by 70%, to $3.9 billion. This was supported by a steady price increase of 52% and manageable unlocks.
Plungers: Supply Surges Sink FDV
Tokens such as Dymension ($DYM), Wormhole(W), StarkNet(STRK), and XAI (XAI) have seen massive declines in FDV. $DYM’s value dropped 92%, from $4.7 billion down to $364 million. This was due to a rapid increase of 77% in the circulating supply as well as a collapsed demand. A similar trend was seen with $W whose FDV fell 92% as a result of large cliffs and linear unlocks which flooded the market.
RelatedAI tokens: Low Float and High FDV Drives the Market Dominance
As supply grew faster than demand, $STRK and #XAI saw their FDVs drop by 91% and 89 %, respectively. $STRK’s circulating stock surged by 298%, causing the price to plummet 92%. The sell pressure was also heightened by the fact that cliff unlocks accounted for more than half of the supply.
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