Circulating is what trades now; total includes locked or unreleased tokens, minus burns.
How to check it yourself
- Find both numbers on a tracker and on the explorer, and note any gap.
- Look for locked, vesting or team wallets that explain the difference.
- Check whether burned tokens are subtracted from total supply.
Sources
- mudrex.comhttps://mudrex.com/learn/market-cap-vs-fdv-in-crypto-key-differences
- cointelegraph.comhttps://cointelegraph.com/learn/fully-diluted-valuation-fdv-in-crypto
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