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The fee and revenue figures across the 24-hour, 30-day, and 12-month windows are worth monitoring because, with a take rate of 100 percent and no supply-side distribution, any sustained shift in fee generation directly affects the economics available to token holders. The fee growth rate, currently negative 1.48 percent over the trailing 30 days, is informative about whether activity on the protocol is expanding or contracting. Circulating supply as a share of maximum supply currently sits at about 16.57 percent, while nearly all of that circulating supply — 99.996 percent — has already been issued, so watching whether additional supply enters circulation could be relevant to understanding dilution. The market cap to annualized fees ratio, at approximately 1.32, reflects how the current market capitalization compares to the fee run-rate, and changes in either the fee level or the market capitalization would move this figure in ways that describe the relationship between activity and size.

Written by an AI language model from the figures listed below, on 26 Sep 2026 17:20 UTC.