Coingecko: Uncovering the Scarcity of Cryptocurrencies – Revealing the True Dilution Value

How many low circulating supply cryptocurrencies are there?
Low circulating supply cryptocurrencies account for 21.3% of the top 300 cryptocurrencies by market capitalization. This means that the majority of tokens of every 5 cryptocurrencies are still locked up, resulting in a market capitalization to fully diluted valuation (FDV) ratio of less than 0.5.
In the crypto market, the 4 cryptocurrencies with the lowest circulating supply are Worldcoin (WLD), with a market capitalization to FDV ratio of 0.02, followed by Cheelee (CHEEL) at 0.06, Starknet (STRK) at 0.07, and Saga (SAGA) at 0.09. All 4 cryptocurrencies with the lowest circulating supply were launched in 2023 or 2024.


Most low circulating supply cryptocurrencies are relatively new products in the market. Out of the 64 low circulating supply cryptocurrencies, 54 were launched in the past four years (12 in 2021, 13 in 2022, 17 in 2023, and 12 in 2024). Apart from projects launching more tokens, the upcoming token unlocks are expected to bring an oversupply that will continue to put pressure on the crypto market.
How many cryptocurrencies have a fully diluted valuation?
Among the top 300 cryptocurrencies, 74 have a market capitalization to FDV ratio of 1. In other words, only 24.7% of cryptocurrencies are fully diluted and have no upcoming token unlocks.
Compared to low circulating supply cryptocurrencies, less than half of the cryptocurrencies launched in the past four years, specifically only 28. Most of the 74 projects, 46 to be exact, were launched between 2014 and 2020.
It is worth noting that out of the 74 fully diluted cryptocurrencies, 14 are memecoins.
Memecoins also dominate the majority of fully diluted cryptocurrencies launched in 2023 and 2024, such as Pepe (PEPE) and Dogwifhat (WIF). This reflects the recent investors’ preference for memecoins becoming a recurring narrative in the crypto market.
54% of cryptocurrencies are high circulating supply cryptocurrencies.
High circulating supply cryptocurrencies make up 162 out of the top 300 cryptocurrencies, which means that 54.0% of cryptocurrencies have unlocked more than half of their token supply.
In particular, 28.7% of cryptocurrencies are nearly fully diluted, with a market capitalization to FDV ratio of 0.80 or higher. This mainly includes older cryptocurrencies such as Maker (MKR) with a ratio of 0.95, Aave (AAVE) at 0.93, and Near Protocol (NEAR) at 0.90.
Overall, the average market capitalization to FDV ratio of the top 300 cryptocurrencies is 0.73.
High circulating supply and low circulating supply cryptocurrencies
As of 2024, the breakdown of fully diluted market capitalization, high circulating supply, and low circulating supply cryptocurrencies among the top 300 cryptocurrencies is as follows:


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CoinGecko
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Cryptocurrency
Jinse Finance
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Note: The opinions expressed in this article are solely those of the author and do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6702487
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