Baseline

The total value locked, currently around 1.95 million USD, fell roughly 3.8 percent over the trailing seven days, making its direction over time a concrete indicator of whether assets are moving into or out of the protocol. The market-cap-to-TVL ratio of about 20.4 and the fully diluted value-to-TVL ratio of about 34.1 are worth observing together, because a wide gap between them reflects the dilution overhang: approximately 40.1 percent of the maximum supply of 21 million tokens has yet to enter circulation, which is also captured in the dilution overhang figure of roughly 67 percent. The 24-hour turnover ratio of about 0.0012 indicates how actively the circulating supply is trading relative to market capitalisation, and sustained changes in that figure could reflect shifts in trading activity on the platform.

由 AI 语言模型根据以下所列数据撰写，于 01 Sep 2026 09:23 UTC.