Valuation

Valuation ratios

किसी asset की worth और उसके उत्पादन के बीच standardized अनुपात। इन्हें हर asset के लिए एक ही तरीके से बनाया गया है ताकि तुलना की जा सके — लेकिन ये equity multiples नहीं हैं, और अंतर केवल superficial नहीं है।

तालिका से पहले यह पढ़ें। Token कोई share नहीं है। कोई consolidated entity नहीं है, कोई audited accounts नहीं हैं, और किसी भी fee stream पर कोई enforceable claim नहीं है। किसी protocol का fee split एक governance choice है जिसे vote द्वारा बदला जा सकता है। Market capitalization एक circulating supply figure पर निर्भर करती है जो अक्सर self-reported होती है। यहाँ प्रत्येक ratio दो published figures के बीच एक scale check है — इससे अधिक कुछ नहीं, और कभी भी यह statement नहीं कि कोई asset सस्ता है या महंगा। valuation track प्रत्येक को ठीक से समझाता है →

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

#	Asset	Market cap	MC / fees	MC / राजस्व	FDV / fees	FDV / राजस्व	MC / TVL	MC प्रति address	Fee yield	Revenue yield	Holder yield	आगामी dilution
1	BitcoinBTC	$1.65T	18,811×	—	18,811×	—	376.82×	$3.46M	0.01%	—	—	0.0%
2	EthereumETH	$293.17B	1,366×	3,850×	1,366×	3,850×	5.95×	$626,289	0.07%	0.03%	—	0.0%
3	BNBBNB	$95.58B	372.2×	3,722×	372.2×	3,722×	—	—	0.27%	0.03%	—	0.0%
4	XRPXRP	$82.26B	—	—	—	—	2,717,821×	—	0.00%	—	—	58.4%
5	SolanaSOL	$61.31B	184.8×	1,508×	199.4×	1,627×	10.55×	—	0.54%	0.07%	—	7.9%
6	TRONTRX	$31.45B	110.5×	110.5×	110.5×	110.5×	5.66×	—	0.90%	0.90%	—	0.0%
7	ZcashZEC	$19.15B	13,388×	—	13,391×	—	7,359×	—	0.01%	—	—	0.0%
8	HyperliquidHYPE	$17.39B	2,619×	2,619×	11,248×	11,248×	17.28×	—	0.04%	0.04%	—	329.5%
9	DogecoinDOGE	$12.38B	45,290×	—	45,292×	—	7,110×	—	0.00%	—	—	0.0%
10	ChainlinkLINK	$9.13B	172.1×	176.3×	224.5×	229.9×	4.87×	—	0.58%	0.57%	0.57%	30.4%
11	CardanoADA	$8.15B	4,772×	23,860×	5,717×	28,586×	132.27×	—	0.02%	0.00%	—	19.8%
12	NEAR ProtocolNEAR	$6.49B	2,435×	3,478×	2,435×	3,478×	28.62×	—	0.04%	0.03%	—	0.0%
13	RainRAIN	$6.38B	1,939,609×	—	3,124,162×	—	398.96×	—	0.00%	0.00%	0.00%	61.1%
14	StellarXLM	$6.21B	10,894×	10,894×	15,474×	15,474×	26.79×	—	0.01%	0.01%	—	42.0%
15	Bitcoin CashBCH	$5.58B	201,291×	—	201,291×	—	1,050×	—	0.00%	—	—	0.0%
16	Ethena USDeUSDE	$4.68B	—	—	—	—	1,529×	—	0.00%	—	—	0.0%
17	LitecoinLTC	$4.65B	24,504×	—	24,505×	—	4,804×	—	0.00%	—	—	0.0%
18	UniswapUNI	$4.53B	3.4×	42.7×	4.8×	60.7×	1.19×	—	29.43%	2.34%	2.34%	42.0%
19	AvalancheAVAX	$4.23B	722.5×	722.5×	765.9×	765.9×	7.33×	—	0.14%	0.14%	—	6.0%
20	CantonCC	$4.15B	6.9×	6.9×	6.9×	6.9×	345.57×	—	14.56%	14.56%	—	0.0%
21	SuiSUI	$4.07B	1,521×	5,353×	3,693×	12,999×	8.42×	—	0.07%	0.02%	—	142.8%
22	Gram (prev. Toncoin)GRAM	$3.83B	4,403×	8,806×	8,196×	16,393×	78.00×	—	0.02%	0.01%	—	86.2%
23	HederaHBAR	$3.63B	15,325×	—	17,404×	—	110.57×	—	0.01%	—	—	13.6%
24	Tether GoldXAUT	$3.35B	246.2×	246.2×	251.8×	251.8×	1.11×	—	0.41%	0.41%	—	2.3%
25	BittensorTAO	$3.02B	—	—	—	—	100,313×	—	—	—	—	85.2%
26	BitwayBTW	$3.01B	678.2×	2,590×	4,504×	17,197×	89.08×	—	0.15%	0.04%	—	564.1%
27	CronosCRO	$2.91B	—	—	—	—	21.09×	—	0.00%	—	—	95.1%
28	EthenaENA	$2.50B	12.6×	3,741×	14.1×	4,186×	0.50×	—	7.94%	0.03%	—	11.9%
29	OKBOKB	$2.38B	4,481×	4,481×	4,481×	4,481×	15.24×	—	0.02%	0.02%	—	0.0%
30	AaveAAVE	$2.29B	5.1×	38.6×	5.2×	40.0×	0.13×	—	19.79%	2.59%	—	3.7%
31	OndoONDO	$2.10B	30.6×	—	62.9×	—	2.21×	—	3.26%	—	—	105.4%
32	WorldcoinWLD	$1.93B	6,788×	—	17,776×	—	45.71×	$121,811	0.01%	—	—	161.9%
33	MantleMNT	$1.75B	13,994×	13,994×	26,358×	26,358×	19.04×	$259,278	0.01%	0.01%	—	88.3%
34	MorphoMORPHO	$1.73B	6.4×	—	9.1×	—	0.15×	—	15.75%	—	—	42.5%
35	World Liberty FinancialWLFI	$1.72B	12.2×	12.2×	38.4×	38.4×	—	—	8.20%	8.20%	—	214.7%
36	Internet ComputerICP	$1.58B	727.0×	727.0×	727.0×	727.0×	188.36×	—	0.14%	0.14%	—	0.0%
37	ArbitrumARB	$1.34B	161.9×	162.8×	235.0×	236.1×	0.96×	$7,584	0.62%	0.61%	—	45.1%
38	Bitget TokenBGB	$1.32B	24,801×	32,112×	32,275×	41,788×	18.17×	—	0.00%	0.00%	—	30.1%
39	Ethereum ClassicETC	$1.22B	129,878×	—	129,878×	—	10,187×	—	0.00%	—	—	0.0%
40	Venice TokenVVV	$1.17B	98.9×	98.9×	165.3×	165.3×	—	—	1.01%	1.01%	1.01%	67.2%
41	GateGT	$1.04B	215,995×	—	241,275×	—	330.14×	—	0.00%	—	—	11.7%
42	KuCoinKCS	$1.03B	—	—	—	—	1,300×	—	0.00%	—	—	1.8%
43	AlgorandALGO	$985.53M	146,847×	146,847×	146,849×	146,849×	29.76×	—	0.00%	0.00%	—	0.0%
44	POL (ex-MATIC)POL	$977.14M	35.8×	35.9×	35.8×	35.9×	1.47×	$2,508	2.79%	2.79%	—	0.0%
45	JupiterJUP	$966.51M	4.7×	16.2×	9.8×	33.5×	0.41×	—	21.17%	6.17%	3.08%	106.7%
46	Cosmos HubATOM	$938.91M	36,996×	—	36,996×	—	6,842×	—	0.00%	—	—	0.0%
47	RenderRENDER	$930.95M	173.3×	173.3×	178.3×	178.3×	—	—	0.58%	0.58%	0.55%	2.8%
48	InjectiveINJ	$855.92M	292.9×	292.9×	292.9×	292.9×	60.30×	—	0.34%	0.34%	—	0.0%
49	FilecoinFIL	$843.97M	1,068×	1,068×	2,501×	2,501×	299.84×	—	0.09%	0.09%	—	134.2%
50	NEXONEXO	$803.58M	—	—	—	—	2.59×	—	—	—	—	0.0%
51	LighterLIT	$762.84M	11.1×	13.5×	44.3×	53.9×	1.09×	—	9.02%	7.42%	4.16%	300.0%
52	LayerZeroZRO	$760.84M	221.9×	325.4×	554.7×	813.5×	0.06×	—	0.45%	0.31%	0.33%	150.0%
53	StacksSTX	$675.13M	1,160×	—	1,160×	—	7.45×	—	0.09%	—	—	0.0%
54	AptosAPT	$673.38M	400.6×	400.6×	549.0×	549.0×	15.55×	—	0.25%	0.25%	—	37.0%
55	Ether.fiETHFI	$654.83M	4.6×	14.9×	4.6×	14.9×	0.12×	—	21.93%	6.72%	—	0.0%
56	XDC NetworkXDC	$652.80M	81,937×	—	156,366×	—	306.78×	—	0.00%	—	—	90.8%
57	DashDASH	$637.24M	76,565×	—	76,567×	—	8,524×	—	0.00%	—	—	0.0%
58	VeChainVET	$575.11M	—	—	—	—	469.70×	—	—	—	—	0.0%
59	FlareFLR	$557.34M	2,157×	—	2,634×	—	3.09×	—	0.05%	—	—	22.1%
60	RaydiumRAY	$509.92M	1.4×	8.7×	3.0×	18.0×	0.44×	—	69.09%	11.44%	6.79%	105.6%
61	Provenance BlockchainHASH	$440.57M	101.6×	—	163.0×	—	2.98×	—	0.98%	—	—	60.4%
62	StarknetSTRK	$438.76M	143.4×	145.1×	192.3×	194.6×	2.85×	$156,037	0.70%	0.69%	—	34.1%
63	StableSTABLE	$435.07M	—	—	—	—	22.30×	—	—	—	—	265.7%
64	Virtuals ProtocolVIRTUAL	$432.47M	90.4×	299.6×	137.4×	455.1×	—	—	1.11%	0.33%	—	51.9%
65	SeiSEI	$402.89M	10,553×	10,553×	15,672×	15,672×	12.90×	—	0.01%	0.01%	—	48.5%
66	PendlePENDLE	$355.96M	26.1×	26.5×	42.3×	43.0×	0.15×	—	3.83%	3.77%	2.93%	61.9%
67	BitTorrentBTT	$345.55M	—	—	—	—	2,212×	—	—	—	—	2.5%
68	Falcon FinanceFF	$344.51M	132.3×	—	395.9×	—	0.20×	—	0.76%	—	—	199.1%
69	PlasmaXPL	$343.55M	1,727×	1,727×	3,810×	3,810×	0.64×	—	0.06%	0.06%	—	120.6%
70	TezosXTZ	$329.78M	7,216×	11,393×	7,347×	11,600×	16.62×	—	0.01%	0.01%	—	1.8%
71	Lido DAOLDO	$320.55M	0.5×	8.5×	0.6×	10.2×	0.01×	—	191.75%	11.80%	8.33%	20.5%
72	Sun TokenSUN	$317.24M	28.3×	611.5×	29.3×	633.1×	0.48×	—	3.54%	0.16%	0.11%	3.5%
73	GnosisGNO	$300.41M	3,985×	—	4,530×	—	3.25×	—	0.03%	—	—	13.7%
74	OlympusOHM	$293.00M	166.0×	166.0×	220.3×	220.3×	—	—	0.60%	0.60%	—	32.7%
75	BackpackBP	$279.27M	—	—	—	—	0.48×	—	—	—	—	300.0%
76	ConfluxCFX	$272.21M	—	—	—	—	43.53×	—	—	—	—	0.0%
77	KaiaKAIA	$264.45M	4,170×	5,407×	4,170×	5,408×	33.18×	—	0.02%	0.02%	—	0.0%
78	The GraphGRT	$260.30M	1,140×	—	1,210×	—	—	—	0.09%	—	—	6.1%
79	Collector CryptCARDS	$257.96M	1.3×	1.3×	2.8×	2.8×	—	—	78.10%	78.10%	0.50%	118.7%
80	Terra Luna ClassicLUNC	$251.78M	—	—	—	—	274.58×	—	—	—	—	16.8%
81	MonadMON	$245.28M	46.7×	54.9×	397.8×	467.6×	0.26×	—	2.14%	1.82%	—	751.4%
82	Ethereum Name ServiceENS	$230.30M	89.8×	89.8×	212.5×	212.5×	—	—	1.11%	1.11%	—	136.5%
83	EigenCloud (prev. EigenLayer)EIGEN	$229.25M	49.7×	—	94.6×	—	0.04×	—	2.01%	—	—	90.4%
84	SonicS	$225.98M	2,418×	2,418×	2,418×	2,418×	10.86×	—	0.04%	0.04%	—	0.0%
85	FLOKIFLOKI	$225.73M	—	—	—	—	18.42×	—	—	—	—	0.0%
86	THORChainRUNE	$210.40M	730.5×	730.5×	786.9×	786.9×	6.11×	—	0.14%	0.14%	—	7.7%
87	IOTAIOTA	$209.84M	—	—	—	—	128.79×	—	—	—	—	6.6%
88	Convex FinanceCVX	$197.25M	6.4×	16.7×	6.8×	17.9×	0.33×	—	15.67%	5.99%	5.68%	7.3%
89	MeteoraMET	$187.26M	0.3×	2.8×	0.6×	4.9×	0.67×	—	308.17%	36.13%	4.45%	78.6%
90	Theta NetworkTHETA	$185.00M	—	—	—	—	604.83×	—	—	—	—	0.0%
91	GRX ChainGRX	$183.98M	—	—	—	—	20.75×	—	0.00%	—	—	5.1%
92	ZamaZAMA	$182.03M	—	—	—	—	1.41×	—	—	—	—	344.7%
93	PonsPONS	$177.76M	0.4×	2.6×	0.4×	2.6×	—	—	254.22%	38.21%	36.40%	0.0%
94	MXMX	$177.51M	—	—	—	—	0.03×	—	—	—	—	345.4%
95	AnvilANVL	$176.06M	—	—	—	—	9.78×	—	—	—	—	13.5%
96	Axie InfinityAXS	$174.74M	107.0×	110.1×	164.5×	169.2×	—	—	0.93%	0.91%	—	53.8%
97	SwissBorgBORG	$159.94M	—	—	—	—	0.16×	—	—	—	—	0.0%
98	ZKsyncZK	$159.19M	967.8×	967.8×	1,879×	1,879×	10.95×	$54,863	0.10%	0.10%	—	94.1%
99	NEONEO	$155.16M	—	—	—	—	157.41×	—	—	—	—	41.8%
100	BeamBEAM	$154.66M	—	—	—	—	114.31×	—	0.00%	—	—	14.0%
101	DoubleZero2Z	$150.93M	42.8×	917.1×	82.4×	1,764×	2.11×	—	2.33%	0.11%	0.00%	92.4%
102	VaultaA	$145.37M	—	—	—	—	3.52×	—	—	—	—	25.4%
103	ChilizCHZ	$144.33M	2,964×	—	2,964×	—	108.04×	—	0.03%	—	—	0.0%
104	ApeCoinAPE	$144.23M	733.7×	—	733.7×	—	49.42×	—	0.14%	—	—	0.0%
105	ImmutableIMX	$137.05M	15,752×	—	34,831×	—	12.42×	—	0.01%	—	—	121.1%
106	0G0G	$136.43M	—	—	—	—	37.49×	—	—	—	—	65.9%
107	RailgunRAIL	$130.23M	28.2×	28.2×	28.2×	28.2×	1.15×	—	3.55%	3.55%	2.07%	0.0%
108	1INCH1INCH	$129.17M	177.0×	808.8×	188.9×	863.2×	41.01×	—	0.56%	0.12%	—	6.7%
109	SuperVerseSUPER	$119.78M	—	—	—	—	2,918×	—	—	—	—	53.1%
110	GeodnetGEOD	$119.41M	10.6×	10.6×	21.3×	21.3×	—	—	9.43%	9.43%	7.54%	101.2%
111	deBridgeDBR	$119.35M	18.3×	18.3×	30.9×	30.9×	54.38×	—	5.46%	5.46%	4.52%	68.7%
112	Reserve RightsRSR	$114.45M	83.8×	209.4×	133.9×	334.7×	2.42×	—	1.19%	0.48%	0.48%	59.9%
113	PlumePLUME	$113.65M	3,459×	—	5,236×	—	49.00×	—	0.03%	—	—	51.4%
114	MultiversXEGLD	$111.20M	3,383×	—	3,383×	—	8.80×	—	0.03%	—	—	0.0%
115	ChutesSN64	$109.93M	991.5×	991.5×	991.5×	991.5×	2.08×	—	0.10%	0.10%	—	0.0%
116	AethirATH	$107.69M	3.0×	14.8×	6.2×	30.9×	—	—	33.73%	6.75%	—	108.7%
117	OrcaORCA	$107.30M	1.0×	7.6×	1.2×	9.4×	0.36×	—	101.34%	13.17%	4.86%	23.4%
118	CapCAP	$107.19M	18.8×	21,959×	120.7×	140,762×	0.49×	—	5.31%	0.00%	—	541.0%
119	KinetiqKNTQ	$106.11M	4.2×	24.4×	13.3×	77.6×	0.10×	—	23.81%	4.09%	1.70%	217.5%
120	SOONSOON	$101.82M	—	—	—	—	47,754×	—	—	—	—	3,140.7%
121	WalrusWAL	$101.14M	2,240×	2,240×	4,279×	4,279×	—	—	0.04%	0.04%	—	91.0%
122	edgeXEDGE	$100.31M	2.8×	3.9×	8.1×	11.2×	1.70×	—	35.30%	25.54%	7.33%	185.7%
123	SoSoValueSOSO	$98.61M	3.7×	3.7×	10.9×	10.8×	0.56×	—	26.92%	26.99%	—	192.4%
124	GALAGALA	$96.10M	—	—	—	—	19.42×	—	—	—	—	0.0%
125	dYdXDYDX	$96.01M	—	—	—	—	1.39×	—	—	—	—	13.3%
126	Nexus MutualNXM	$94.87M	46.9×	93.9×	46.9×	93.9×	0.99×	—	2.13%	1.07%	1.07%	0.0%
127	peaqPEAQ	$92.92M	—	—	—	—	121.29×	—	0.00%	—	—	72.4%
128	WEMIXWEMIX	$90.84M	—	—	—	—	33.73×	—	—	—	—	12.2%
129	WormholeW	$88.46M	385.4×	—	578.7×	—	0.05×	—	0.26%	—	—	50.2%
130	GMXGMX	$87.96M	1.1×	1.6×	1.1×	1.6×	0.20×	—	87.28%	63.25%	54.42%	0.0%
131	PromPROM	$87.96M	5,956×	—	6,283×	—	132.22×	—	0.02%	—	—	5.5%
132	STONKSTONK	$87.07M	0.3×	0.4×	0.3×	0.4×	—	—	304.20%	267.79%	161.00%	-0.0%
133	PharosPROS	$85.45M	—	—	—	—	1.17×	—	—	—	—	637.5%
134	USD.AICHIP	$83.09M	1.6×	15.8×	7.9×	78.8×	0.33×	—	63.45%	6.34%	—	400.0%
135	LivepeerLPT	$80.47M	246.5×	246.5×	246.5×	246.5×	—	—	0.41%	0.41%	0.41%	0.0%
136	SafeSAFE	$80.28M	134.2×	134.2×	171.4×	171.4×	—	—	0.74%	0.74%	—	27.7%
137	NumeraireNMR	$79.95M	—	—	—	—	31,093×	—	—	—	—	47.9%
138	ADIADI	$77.56M	—	—	—	—	58.03×	—	—	—	—	10,499.4%
139	KavaKAVA	$75.61M	—	—	—	—	3.64×	—	—	—	—	0.0%
140	ALEOALEO	$75.38M	—	—	—	—	38.21×	—	—	—	—	39.1%
141	CoW ProtocolCOW	$74.02M	3.2×	5.6×	5.5×	9.8×	—	—	31.64%	17.74%	—	74.1%
142	Rootstock Infrastructure FrameworkRIF	$73.61M	219.6×	—	219.6×	—	0.94×	—	0.46%	—	—	0.0%
143	AmpAMP	$72.54M	—	—	—	—	58.70×	—	—	—	—	11.1%
144	VeloVELO	$71.16M	44,737×	44,737×	61,130×	61,130×	998.57×	—	0.00%	0.00%	—	36.6%
145	ZIG FinanceZIG	$70.69M	—	—	—	—	17.49×	—	—	—	—	38.7%
146	QubicQUBIC	$69.55M	—	—	—	—	1,294×	—	—	—	—	24.0%
147	ZetaChainZETA	$68.94M	—	—	—	—	202.57×	—	0.00%	—	—	26.8%
148	Flying TulipFT	$68.55M	37.2×	41.9×	39.5×	44.5×	4.56×	—	2.69%	2.39%	—	6.2%
149	LineaLINEA	$66.07M	138.8×	138.8×	405.0×	405.0×	2.76×	$22,796	0.72%	0.72%	—	191.9%
150	o1.exchangeO	$65.73M	7.7×	13.2×	48.0×	82.6×	—	—	13.02%	7.56%	—	525.0%

trailing 30 दिनों से annualized; पूंजीकरण point-in-time site calculation from CoinGecko and DeFiLlama inputs observed 19 Oct 2026 07:04 UTC

प्रत्येक ratio क्या है, और कहाँ टूटता है

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

प्रत्येक ratio क्या है, और कहाँ टूटता है

Assets

मूल तत्व

Valuation & risk

संस्थागत

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परिचय

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