Gravity (by Galxe)
Research notes
Fee growth over 30 days, currently at negative 18.55 percent, is worth monitoring because sustained directional changes would indicate whether transaction demand on the chain is expanding or contracting. The dilution overhang, sitting at roughly 65.91 percent of the maximum supply not yet in circulation against a circulating figure of 60.27 percent of maximum supply, is relevant because the pace at which the remaining supply enters circulation affects the relationship between market capitalization and fully diluted valuation, currently at a ratio of about 1.66. The price relative to its 200-day average, currently at approximately 1.05, can shift meaningfully as fee and usage figures evolve. The stablecoin supply hosted on the chain is also worth tracking as an independent signal of whether external capital is being deployed on the network.
Written by an AI language model from the figures listed below, on 26 Sep 2026 17:24 UTC.