Baseline

The TVL figure, which rose roughly 1.35 percent over the trailing seven days, is worth monitoring because changes in assets deposited signal shifts in how much activity the protocol is attracting relative to its stated function. The market-cap-to-TVL ratio of 21.14 and the FDV-to-TVL ratio of 35.30 are worth tracking together, since a widening or narrowing gap between them can reflect how the market is pricing the protocol relative to its actual on-chain footprint. The dilution overhang of approximately 66.96 percent — representing B tokens not yet in circulation against the maximum supply — is relevant to observe because any increase in circulating supply would change the relationship between market cap and fully diluted valuation, currently at a ratio of about 1.67. The 24-hour turnover of 0.0576 percent of market cap is also worth watching as an indicator of how actively the token is being traded relative to its overall size.

Written by an AI language model from the figures listed below, on 26 Sep 2026 09:29 UTC.