Digital asset valuation ratios | Digital Asset Database

Read this before the table. A token is not a share. There is no consolidated entity, no audited accounts, and no enforceable claim on any fee stream. A protocol’s fee split is a governance choice that can be changed by a vote. Market capitalization depends on a circulating-supply figure that is often self-reported. Every ratio here is a scale check between two published figures — nothing more, and never a statement that an asset is cheap or expensive. The valuation track explains each one properly →

All Layer 1 Layer 2 DeFi Stablecoins Liquid staking Exchange tokens Real-world assets Oracles Privacy Payments AI & DePIN Gaming & NFT Meme Wrapped Infrastructure Other

#	Asset	Market cap	MC / fees	MC / revenue	FDV / fees	FDV / revenue	MC / TVL	MC per address	Fee yield	Revenue yield	Holder yield	Dilution ahead
1	BitcoinBTC	$1.55T	19,246×	—	19,246×	—	375.59×	$3.08M	0.01%	—	—	0.0%
2	EthereumETH	$291.99B	2,309×	9,506×	2,309×	9,506×	6.02×	$466,576	0.04%	0.01%	—	0.0%
3	BNBBNB	$91.55B	428.3×	4,283×	428.3×	4,283×	16.74×	—	0.23%	0.02%	—	0.0%
4	XRPXRP	$84.83B	—	—	—	—	2,098×	—	—	—	—	59.4%
5	SolanaSOL	$58.37B	216.2×	2,288×	234.0×	2,476×	10.26×	—	0.46%	0.04%	—	8.2%
6	TRONTRX	$30.82B	97.2×	97.2×	97.2×	97.2×	5.81×	—	1.03%	1.03%	—	0.0%
7	HyperliquidHYPE	$18.21B	912.4×	912.4×	3,919×	3,919×	12.10×	—	0.11%	0.11%	—	329.5%
8	ZcashZEC	$13.81B	30,445×	—	30,451×	—	6,027×	—	0.00%	—	—	0.0%
9	DogecoinDOGE	$12.74B	48,971×	—	48,971×	—	7,693×	—	0.00%	—	—	0.0%
10	RainRAIN	$11.87B	6,210×	10,236×	10,004×	16,488×	395.91×	—	0.02%	0.01%	0.01%	61.1%
11	ChainlinkLINK	$8.32B	143.6×	154.5×	191.9×	206.5×	4.88×	—	0.70%	0.65%	0.65%	33.7%
12	CardanoADA	$7.47B	15,906×	79,524×	19,085×	95,418×	120.58×	—	0.01%	0.00%	—	20.0%
13	StellarXLM	$6.07B	13,513×	13,513×	19,472×	19,472×	26.21×	—	0.01%	0.01%	—	44.1%
14	Bitcoin CashBCH	$4.91B	—	—	—	—	14,166×	—	—	—	—	0.0%
15	CantonCC	$4.35B	7.6×	7.6×	7.6×	7.6×	549.07×	—	13.24%	13.24%	—	0.0%
16	Ethena USDeUSDE	$4.24B	—	—	—	—	1,298×	—	0.00%	—	—	0.0%
17	LitecoinLTC	$3.87B	27,380×	—	27,380×	—	4,999×	—	0.00%	—	—	0.0%
18	Gram (prev. Toncoin)GRAM	$3.70B	3,511×	7,021×	6,622×	13,244×	74.69×	—	0.03%	0.01%	—	88.6%
19	UniswapUNI	$3.67B	2.9×	34.9×	4.1×	49.9×	1.13×	—	34.64%	2.86%	2.86%	42.9%
20	HederaHBAR	$3.24B	—	—	—	—	125.43×	—	—	—	—	14.1%
21	AvalancheAVAX	$3.10B	2,458×	2,458×	2,639×	2,639×	6.61×	—	0.04%	0.04%	—	7.3%
22	SuiSUI	$3.04B	2,485×	6,972×	6,066×	17,018×	6.65×	—	0.04%	0.01%	—	144.1%
23	Tether GoldXAUT	$2.69B	—	—	—	—	0.87×	—	—	—	—	15.5%
24	CronosCRO	$2.63B	300,349×	—	612,073×	—	10.36×	—	0.00%	—	—	103.8%
25	NEAR ProtocolNEAR	$2.45B	4,459×	6,369×	4,459×	6,369×	22.84×	—	0.02%	0.02%	—	0.0%
26	OKBOKB	$2.17B	—	—	—	—	0.08×	—	—	—	—	0.0%
27	BittensorTAO	$2.08B	—	—	—	—	46.35×	—	—	—	—	118.8%
28	AaveAAVE	$1.96B	5.3×	37.8×	5.5×	39.2×	0.12×	—	19.01%	2.65%	—	3.7%
29	MantleMNT	$1.84B	19,700×	19,700×	37,102×	37,102×	18.58×	$1.44M	0.01%	0.01%	—	88.3%
30	World Liberty FinancialWLFI	$1.79B	14.3×	14.3×	45.0×	45.0×	—	—	6.99%	6.99%	—	214.7%
31	MorphoMORPHO	$1.72B	8.1×	—	11.8×	—	0.19×	—	12.29%	—	—	45.3%
32	BitwayBTW	$1.72B	188.0×	895.4×	694.2×	3,306×	14.37×	—	0.53%	0.11%	—	269.3%
33	OndoONDO	$1.68B	19.2×	—	39.3×	—	0.48×	—	5.22%	—	—	105.4%
34	EthenaENA	$1.46B	7.9×	5,997×	12.1×	9,152×	0.33×	—	12.58%	0.02%	—	52.6%
35	Internet ComputerICP	$1.39B	758.5×	984.7×	758.5×	984.7×	98.63×	—	0.13%	0.10%	—	0.0%
36	WorldcoinWLD	$1.31B	5,830×	—	16,065×	—	40.73×	$232,591	0.02%	—	—	175.5%
37	Ethereum ClassicETC	$1.15B	168,063×	—	168,063×	—	10,291×	—	0.00%	—	—	0.0%
38	POL (ex-MATIC)POL	$981.87M	36.9×	36.9×	36.9×	36.9×	1.23×	$2,134	2.71%	2.71%	—	0.0%
39	KuCoinKCS	$949.19M	609,073×	—	631,277×	—	1,237×	—	0.00%	—	—	3.6%
40	LighterLIT	$943.91M	16.0×	21.6×	64.0×	86.2×	1.36×	—	6.25%	4.64%	3.76%	300.0%
41	GateGT	$857.38M	—	—	—	—	0.13×	—	—	—	—	11.5%
42	NEXONEXO	$834.00M	—	—	—	—	2.62×	—	—	—	—	0.0%
43	AlgorandALGO	$833.91M	138,651×	138,651×	138,652×	138,652×	27.04×	—	0.00%	0.00%	—	0.0%
44	ArbitrumARB	$819.43M	172.3×	173.1×	258.0×	259.2×	0.55×	$5,703	0.58%	0.58%	—	49.7%
45	Venice TokenVVV	$769.82M	92.3×	92.3×	156.4×	156.4×	—	—	1.08%	1.08%	1.08%	69.5%
46	Cosmos HubATOM	$767.71M	40,600×	—	40,601×	—	7,142×	—	0.00%	—	—	0.0%
47	StableSTABLE	$739.21M	—	—	—	—	25.80×	—	—	—	—	285.4%
48	JupiterJUP	$723.40M	3.3×	9.5×	6.8×	19.6×	0.30×	—	30.30%	10.54%	5.27%	106.7%
49	FilecoinFIL	$667.68M	1,343×	1,343×	3,160×	3,160×	252.61×	—	0.07%	0.07%	—	135.3%
50	FlareFLR	$584.96M	1,422×	—	1,744×	—	4.44×	—	0.07%	—	—	22.7%
51	VeChainVET	$561.40M	—	—	—	—	468.58×	—	—	—	—	0.0%
52	DashDASH	$553.23M	98,492×	—	98,500×	—	7,450×	—	0.00%	—	—	0.0%
53	XDC NetworkXDC	$552.14M	—	—	—	—	267.79×	—	—	—	—	90.8%
54	Ether.fiETHFI	$540.77M	3.7×	14.7×	3.7×	14.7×	0.11×	—	27.00%	6.81%	—	0.0%
55	AptosAPT	$494.40M	449.4×	449.4×	632.5×	632.5×	8.62×	—	0.22%	0.22%	—	40.7%
56	StacksSTX	$490.43M	1,271×	—	1,271×	—	5.45×	—	0.08%	—	—	0.0%
57	InjectiveINJ	$477.36M	189.7×	189.7×	189.7×	189.7×	52.68×	—	0.53%	0.53%	—	0.0%
58	Virtuals ProtocolVIRTUAL	$446.76M	56.8×	56.8×	86.3×	86.3×	—	—	1.76%	1.76%	—	51.9%
59	Provenance BlockchainHASH	$426.77M	125.9×	—	208.3×	—	2.88×	—	0.79%	—	—	65.4%
60	LayerZeroZRO	$359.49M	278.8×	227.0×	789.2×	642.4×	0.05×	—	0.36%	0.44%	0.44%	183.0%
61	SeiSEI	$329.90M	47,414×	47,414×	70,417×	70,417×	9.94×	—	0.00%	0.00%	—	48.5%
62	Falcon FinanceFF	$326.59M	101.6×	—	331.5×	—	0.26×	—	0.98%	—	—	226.3%
63	PendlePENDLE	$316.15M	40.4×	41.1×	66.0×	67.1×	0.26×	—	2.47%	2.43%	1.95%	63.4%
64	PonsPONS	$311.21M	0.7×	3.6×	0.7×	3.5×	—	—	142.88%	27.99%	6.47%	-0.7%
65	Sun TokenSUN	$309.12M	28.9×	224.5×	29.9×	232.4×	0.56×	—	3.46%	0.45%	0.17%	3.5%
66	Lido DAOLDO	$306.59M	0.6×	9.9×	0.7×	11.9×	0.01×	—	162.81%	10.11%	3.07%	19.9%
67	MonadMON	$302.61M	74.9×	93.2×	637.8×	793.5×	0.32×	—	1.33%	1.07%	—	751.4%
68	GnosisGNO	$302.55M	3,251×	—	3,695×	—	3.00×	—	0.03%	—	—	13.7%
69	OlympusOHM	$299.50M	162.2×	162.2×	215.3×	215.3×	—	—	0.62%	0.62%	—	32.7%
70	BitTorrentBTT	$290.34M	—	—	—	—	1,272×	—	—	—	—	0.3%
71	Terra Luna ClassicLUNC	$280.59M	—	—	—	—	475.90×	—	—	—	—	16.8%
72	ConfluxCFX	$251.28M	—	—	—	—	33.74×	—	—	—	—	0.0%
73	TezosXTZ	$236.77M	2,314×	2,612×	2,357×	2,659×	12.34×	—	0.04%	0.04%	—	1.8%
74	FLOKIFLOKI	$232.18M	—	—	—	—	20.17×	—	—	—	—	107.4%
75	PlasmaXPL	$230.96M	1,911×	1,911×	6,881×	6,881×	0.40×	—	0.05%	0.05%	—	260.0%
76	Ethereum Name ServiceENS	$226.60M	55.4×	55.4×	131.7×	131.7×	—	—	1.81%	1.81%	—	137.7%
77	RaydiumRAY	$215.59M	1.8×	11.8×	3.8×	24.3×	0.20×	—	54.22%	8.48%	6.55%	105.9%
78	Convex FinanceCVX	$209.89M	11.7×	20.7×	12.6×	22.2×	0.38×	—	8.53%	4.84%	4.80%	7.3%
79	StarknetSTRK	$193.75M	89.0×	89.2×	123.9×	124.2×	1.19×	$7,750	1.12%	1.12%	—	39.2%
80	DoubleZero2Z	$185.37M	37.6×	293.5×	108.3×	845.9×	2.63×	—	2.66%	0.34%	0.03%	188.2%
81	EigenCloud (prev. EigenLayer)EIGEN	$184.11M	49.1×	—	98.2×	—	0.03×	—	2.04%	—	—	100.1%
82	KaiaKAIA	$184.05M	7,587×	8,521×	7,588×	8,522×	20.19×	—	0.01%	0.01%	—	0.0%
83	IOTAIOTA	$181.65M	—	—	—	—	125.19×	—	—	—	—	7.5%
84	The GraphGRT	$177.37M	646.9×	—	686.6×	—	—	—	0.15%	—	—	6.1%
85	SwissBorgBORG	$172.10M	—	—	—	—	0.17×	—	—	—	—	0.0%
86	Theta NetworkTHETA	$168.39M	—	—	—	—	566.99×	—	—	—	—	0.0%
87	Collector CryptCARDS	$160.58M	1.3×	1.3×	2.8×	2.8×	—	—	76.09%	76.09%	—	112.1%
88	MXMX	$160.39M	—	—	—	—	0.03×	—	—	—	—	345.4%
89	Axie InfinityAXS	$159.79M	112.3×	116.4×	173.8×	180.2×	—	—	0.89%	0.86%	—	54.8%
90	MultiversXEGLD	$158.14M	5,461×	—	5,461×	—	10.88×	—	0.02%	—	—	0.0%
91	THORChainRUNE	$155.68M	3,249×	3,249×	3,497×	3,497×	5.43×	—	0.03%	0.03%	—	7.6%
92	edgeXEDGE	$149.80M	2.5×	3.5×	7.2×	10.0×	1.88×	—	39.81%	28.67%	5.60%	185.7%
93	NEONEO	$141.15M	—	—	—	—	120.84×	—	—	—	—	41.8%
94	ChilizCHZ	$140.56M	7,596×	—	7,596×	—	73.91×	—	0.01%	—	—	0.0%
95	ApeCoinAPE	$134.75M	858.8×	—	858.8×	—	49.26×	—	0.12%	—	—	0.0%
96	GRX ChainGRX	$124.16M	—	—	—	—	35.87×	—	0.00%	—	—	5.1%
97	1INCH1INCH	$122.15M	224.0×	1,209×	239.1×	1,290×	40.70×	—	0.45%	0.08%	—	6.7%
98	ZamaZAMA	$115.27M	—	—	—	—	1.84×	—	—	—	—	400.0%
99	CapCAP	$110.69M	20.5×	19,352×	131.4×	124,049×	0.32×	—	4.88%	0.01%	—	541.0%
100	RailgunRAIL	$109.08M	31.3×	31.3×	31.3×	31.3×	1.23×	—	3.19%	3.19%	2.13%	0.0%
101	SoSoValueSOSO	$108.58M	4.5×	4.5×	13.2×	13.1×	0.64×	—	22.09%	22.24%	—	192.4%
102	UnitasUP	$107.94M	—	—	—	—	1.91×	—	—	—	—	363.0%
103	ImmutableIMX	$107.56M	17,501×	—	39,800×	—	9.97×	—	0.01%	—	—	127.4%
104	MeteoraMET	$106.48M	0.5×	4.4×	1.0×	7.9×	0.33×	—	186.52%	22.89%	—	81.4%
105	BackpackBP	$105.30M	—	—	—	—	0.24×	—	—	—	—	300.0%
106	Nexus MutualNXM	$104.25M	68.4×	136.7×	68.4×	136.7×	0.99×	—	1.46%	0.73%	0.73%	0.0%
107	SonicS	$103.39M	3,614×	3,614×	3,614×	3,614×	6.70×	—	0.03%	0.03%	—	0.0%
108	The Black BullANSEM	$102.03M	4.4×	4.4×	10.7×	10.7×	—	—	22.50%	22.50%	7.69%	140.5%
109	GeodnetGEOD	$101.70M	9.2×	9.2×	19.1×	19.1×	—	—	10.93%	10.93%	8.74%	108.1%
110	WEMIXWEMIX	$99.94M	—	—	—	—	33.75×	—	—	—	—	12.2%
111	dYdXDYDX	$93.89M	—	—	—	—	1.33×	—	—	—	—	13.3%
112	ABAB	$93.66M	—	—	—	—	296.54×	—	—	—	—	0.0%
113	AethirATH	$92.93M	1.5×	7.3×	3.1×	15.3×	—	—	68.13%	13.63%	—	108.7%
114	ZKsyncZK	$92.52M	811.6×	811.6×	1,643×	1,643×	6.10×	$34,730	0.12%	0.12%	—	102.5%
115	PlumePLUME	$89.88M	3,957×	—	6,188×	—	14.29×	—	0.03%	—	—	56.4%
116	PromPROM	$89.41M	8,674×	—	9,149×	—	114.04×	—	0.01%	—	—	5.5%
117	o1.exchangeO	$88.37M	2.5×	4.7×	15.9×	29.3×	—	—	39.26%	21.34%	—	525.0%
118	deBridgeDBR	$86.76M	14.5×	14.5×	24.4×	24.4×	46.59×	—	6.90%	6.90%	5.47%	68.7%
119	GALAGALA	$86.16M	—	—	—	—	21.49×	—	—	—	—	0.0%
120	VeloVELO	$85.33M	65,956×	65,956×	90,124×	90,124×	1,140×	—	0.00%	0.00%	—	36.6%
121	USD.AICHIP	$83.13M	5.1×	26.2×	25.7×	131.1×	0.38×	—	19.45%	3.81%	—	400.0%
122	Reserve RightsRSR	$81.97M	78.7×	181.7×	125.8×	290.4×	2.29×	—	1.27%	0.55%	0.55%	59.9%
123	XPR NetworkXPR	$79.68M	—	—	—	—	1.59×	—	—	—	—	13.0%
124	BeamBEAM	$78.96M	—	—	—	—	83.14×	—	0.00%	—	—	14.0%
125	ADIADI	$77.30M	—	—	—	—	18.25×	—	—	—	—	10,560.5%
126	OrcaORCA	$75.35M	1.4×	11.1×	1.8×	13.7×	0.29×	—	70.21%	9.03%	3.14%	23.4%
127	RERE	$74.21M	5.1×	963.4×	32.0×	6,036×	0.23×	—	19.55%	0.10%	—	526.6%
128	GMXGMX	$74.13M	3.3×	9.0×	3.3×	9.0×	0.36×	—	29.91%	11.07%	8.07%	0.0%
129	SafeSAFE	$74.09M	186.9×	186.9×	241.0×	241.0×	—	—	0.54%	0.54%	—	29.0%
130	CoW ProtocolCOW	$72.26M	4.0×	6.3×	7.0×	10.9×	—	—	24.80%	15.92%	—	74.1%
131	Data NetworkDATA	$67.95M	51.4×	—	148.0×	—	1,786×	—	1.95%	—	—	188.0%
132	SuperVerseSUPER	$67.95M	—	—	—	—	3,072×	—	—	—	—	56.2%
133	LivepeerLPT	$65.54M	94.2×	94.2×	94.2×	94.2×	—	—	1.06%	1.06%	1.06%	0.0%
134	AnvilANVL	$65.38M	—	—	—	—	6.48×	—	—	—	—	13.5%
135	WalrusWAL	$65.27M	599.4×	599.4×	1,169×	1,169×	—	—	0.17%	0.17%	—	95.0%
136	SOONSOON	$63.59M	—	—	—	—	2,886×	—	—	—	—	3,139.5%
137	WormholeW	$62.21M	398.3×	—	623.3×	—	0.04×	—	0.25%	—	—	56.5%
138	GoPlus SecurityGPS	$61.87M	668.8×	668.8×	1,146×	1,146×	1.93×	—	0.15%	0.15%	—	71.3%
139	LineaLINEA	$61.63M	119.9×	119.9×	350.1×	350.1×	2.15×	$20,622	0.83%	0.83%	—	191.9%
140	QubicQUBIC	$60.00M	—	—	—	—	1,141×	—	—	—	—	24.5%
141	NumeraireNMR	$59.85M	—	—	—	—	34,303×	—	—	—	—	52.9%
142	BerachainBERA	$56.45M	1,841×	1,841×	3,221×	3,221×	1.65×	—	0.05%	0.05%	—	75.0%
143	aelfELF	$56.03M	3,724×	37,110×	4,511×	44,946×	10.77×	—	0.03%	0.00%	—	21.1%
144	CapricornAPR	$55.54M	861.9×	5,879×	3,102×	21,161×	89.23×	—	0.12%	0.02%	—	260.0%
145	SushiSUSHI	$55.47M	4.3×	11.1×	4.3×	11.3×	0.65×	—	23.41%	8.98%	0.19%	1.7%
146	PharosPROS	$55.43M	—	—	—	—	1.96×	—	—	—	—	637.5%
147	peaqPEAQ	$54.66M	—	—	—	—	85.82×	—	0.00%	—	—	78.1%
148	Bio ProtocolBIO	$54.33M	—	—	—	—	15.68×	—	—	—	—	54.8%
149	Flying TulipFT	$53.86M	28.9×	30.3×	65.7×	68.9×	4.06×	—	3.46%	3.30%	—	126.9%
150	ZetaChainZETA	$53.50M	—	—	—	—	176.88×	—	0.00%	—	—	30.7%

annualized from the trailing 30 days; capitalization point-in-time site calculation from CoinGecko and DeFiLlama inputs observed 02 Sep 2026 06:59 UTC

What each ratio is, and where it breaks

Market Cap / Annualized Fees Compares a token's market value with the fees users paid to the network over a year. Providers disagree on what a fee is: priority tips and maximal extractable value are counted by some and excluded by others, and front-end interface fees taken by a separate company are usually invisible entirely. Assets that charge almost… annualized from trailing 30 days

Market Cap / Annualized Revenue Market value divided by the share of yearly fees the protocol keeps rather than paying out. The split between fees and revenue is a modeling choice, not an observation, and providers draw it in different places for the same protocol, so two reputable sites can differ by a multiple on the same token. The cost of earning that… annualized from trailing 30 days

FDV / Annualized Fees Like the market cap version, but values every token that will ever exist at today's price. There is no single definition of fully diluted supply: some providers use the coded maximum, some use current total supply, and some use supply after all published vesting completes, so the same token can carry three different FDVs. Assets… annualized from trailing 30 days

FDV / Annualized Revenue Fully diluted market value divided by the yearly fee income the protocol retains. Both inputs are estimates, so the errors compound: a provider that defines fully diluted supply generously and revenue narrowly will report a multiple several times another provider's for the identical protocol. Projects still distributing… annualized from trailing 30 days

Market Cap / TVL Compares a token's market value with the value of assets currently deposited in its contracts. Total value locked double-counts routinely: ether staked through a liquid staking provider produces a receipt token, which is deposited into a lending market, borrowed against, and redeposited, and each leg can be counted. Because it is… point-in-time

FDV / TVL Fully diluted market value divided by the value of assets deposited in the protocol. It inherits every problem of both inputs at once: recursive double-counting in deposits and an undefined or provider-specific diluted supply. Protocols that attracted deposits with token emissions are the common case here, and those same… point-in-time

Market Cap per Active Address Market value divided by the number of addresses that sent or received anything recently. Addresses are not users in either direction: one person can generate an unlimited number of addresses for free, while a single exchange deposit address can serve millions of customers whose trades never touch the chain. Rollups, batching… point-in-time value over trailing 30 days of activity

Fee Yield Total yearly fees paid by users, expressed as a percentage of the token's market value. Gross fees include amounts that never accrue to the protocol or to token holders in any form, so a high figure can coexist with a protocol that retains nothing. Fees paid to validators or liquidity providers are compensation for a cost… annualized from trailing 30 days

Network Revenue Yield Yearly protocol revenue expressed as a percentage of the token's market value. Nothing is distributed in the great majority of cases, so the figure describes revenue that stays with a treasury, with validators, or is destroyed by a burn mechanism rather than paid out. Where value does reach holders it arrives as… annualized from trailing 30 days

Holder Revenue Yield The share of fee income that actually reaches token holders, as a percentage of market value. A burn reaches holders only as a proportional supply reduction, and it can be entirely offset by issuance elsewhere in the same protocol, which this figure does not net off. Fee distributions to stakers are received only by tokens that are… annualized from trailing 30 days

Dilution overhang How much larger fully diluted valuation is than market capitalization. Fully diluted valuation prices tokens that do not yet trade at the price of tokens that do, which is an assumption, not a measurement. For assets with very long emission schedules the arithmetic is close to meaningless. point-in-time

NVT (Network Value to Transactions) Network value divided by the daily value moved on-chain, smoothed over about three months. The denominator counts change outputs, self-transfers, and exchange rebalancing as settlement, and the adjustment heuristics used to remove them differ enough between providers that NVT values from two sites are not comparable. The measure… point-in-time value over a smoothed 90-day denominator

Valuation ratios

What each ratio is, and where it breaks

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