Backpack

The dilution overhang of 300 percent — meaning three times the current circulating supply remains to be issued — is a figure worth tracking over time, because changes in the pace of new supply entering circulation directly affect the relationship between circulating and fully diluted valuations. TVL and its seven-day change rate are worth observing because a centralized exchange's locked assets reflect user trust and platform activity in a way that is more directly measurable than many other metrics here. The market-cap-to-TVL ratio of 0.27 and the FDV-to-TVL ratio of roughly 1.06 move in opposite directions as supply is released and as TVL grows or contracts, making the gap between them informative about how the market is pricing current versus future supply. The 24-hour turnover of 1.50 and 30-day average turnover of 1.68 relative to market capitalization indicate how actively the token is being traded, and sustained changes in those figures can reflect shifts in platform usage or speculative interest.

Written by an AI language model from the figures listed below, on 28 Aug 2026 09:27 UTC.