Market cap is not money available to withdraw

Market capitalisation multiplies a price by a supply measure. Fully diluted valuation uses a broader supply assumption. Neither is a reserve of money waiting for holders to exit. A small trade can set a price that values a much larger token supply.

A practical example

Suppose the last traded price is $1 and the stated circulating supply is 100 million tokens. The resulting $100 million market cap says nothing about whether a $1 million sale can execute near that price. The available bids or pool liquidity determine the execution. This example is illustrative, not a valuation of any token in the wiki.

Check which supply measure the source uses, whether the price comes from a meaningful market and how depth changes with order size. Thin markets and concentrated positions can make displayed valuations particularly misleading.

MASTR's ANSEM research separated a roughly $90 million-plus FDV from a much lower circulating market cap. The TRUMP pool study distinguished marked positions from active liquidity. Both corrections matter more than a single large headline number.

来源

1. MASTR: Crypto Survival Guide, four original panels
2. MASTR: ANSEM liquidity-pool snapshot, 28 June 2026
3. MASTR: TRUMP investigation workbook, 22 August 2026

资料核对日期：2026年9月5日. Historical cases retain the date and legal status of the cited record.