Price and supply answer different questions
A unit price alone says little about how many tokens exist or can trade. Market capitalization usually uses a circulating-supply convention; fully diluted value uses a broader supply definition. Check the source and its inclusion rules before comparing either figure.
Choose a date and convention
A supply observation needs a date and a clear denominator. Document vested balances, future emissions, burns and any discretionary treasury allocations rather than assuming all locked supply follows one schedule. Two providers may count restricted units differently.
Unlocks are not automatic sales
Vesting makes tokens transferable according to the relevant rules. It does not establish when holders will sell them. Performance triggers and governance-controlled distributions may not have fixed dates. Report those uncertainties instead of inventing a precise calendar.
Make supply movement visible
If a protocol buys and burns one million tokens while ten million previously locked tokens become transferable, those are two different events. The burn can reduce total supply; the unlock changes transferability. Neither by itself proves a sale or predicts a market price. A dated ledger should show each event, source and resulting balance separately.
Further reading & sources
By the PerpsAtlas research desk · Educational analysis · Published 22 September 2026 · Substantially updated 28 SEP 2026.
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