How undervalued is each token?
Snapshot 2026-08-23 05:10 UTC · market data CoinGecko · fees & buybacks DefiLlama
Tap the i beside any column heading for how it is calculated, why it matters, and how it can mislead. Tap the heading itself to sort.
Composite score
Each component is a percentile rank across the priced universe, not a raw value on an invented scale — so one outlier can't swamp the result, and every component arrives in the same units before weighting. The score is only meaningful within this set: it ranks these tokens against each other, and says nothing about the market as a whole.
Weights — value 20% · quality 16% · buyback 13% · recovery 12% · dilution 11% · moat 11% · innovation 9% · pressure 8%. Missing components are imputed at neutral (50) rather than dropped, and coverage records how much of the score is measured. Moat and innovation are hand-set judgements (data/moat.json, data/innovation.json); every other component is derived from live data.
| # | Token | Score | Value | Quality | Buyback | Recovery | Dilution | Moat | Innovation | Pressure | Coverage |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Helium HNT | 65.7 | 52 | — | 94 | 50 | 89 | 71 | 41 | 94 | 84% |
| 2 | Lighter LIT | 61.7 | 59 | 96 | 78 | 4 | 14 | 75 | 89 | 78 | 100% |
| 3 | Aerodrome AERO | 60.9 | 91 | 17 | 100 | 36 | 43 | 86 | 5 | 100 | 100% |
| 4 | Pendle PENDLE | 59.9 | 45 | 22 | 83 | 46 | 57 | 96 | 96 | 67 | 100% |
| 5 | Jupiter JUP | 58.9 | 73 | 48 | 89 | 25 | 39 | 93 | 5 | 89 | 100% |
| 6 | Berachain BERA | 57.5 | — | 87 | — | 79 | 54 | 12 | 71 | — | 59% |
| 7 | Maple Finance SYRUP | 56.4 | 64 | 39 | 61 | 21 | 82 | 89 | 25 | 72 | 100% |
| 8 | Hyperlane HYPER | 53.2 | 100 | 83 | 8 | 32 | 25 | 50 | 68 | 8 | 100% |
| 9 | Centrifuge CFG | 52.9 | 77 | 78 | 8 | 61 | 50 | 61 | 41 | 8 | 100% |
| 10 | Reserve Rights RSR | 50.2 | 41 | 70 | 56 | 71 | 61 | 32 | 14 | 44 | 100% |
| 11 | MegaETH MEGA | 50.1 | — | 74 | — | 68 | 0 | 18 | 86 | — | 59% |
| 12 | Injective INJ | 49.6 | — | 26 | 50 | 39 | 96 | 54 | 41 | 50 | 80% |
| 13 | Ether.fi ETHFI | 49.5 | 36 | 65 | 67 | 11 | 96 | 46 | 14 | 61 | 100% |
| 14 | Ethena ENA | 49.1 | 5 | 52 | — | 50 | 68 | 79 | 80 | — | 79% |
| 15 | Hyperliquid HYPE | 47.8 | 18 | 43 | 72 | 0 | 11 | 100 | 100 | 83 | 100% |
| 16 | Sonic S | 47.8 | — | 0 | — | 96 | 96 | 12 | 41 | — | 59% |
| 17 | Movement MOVE | 47.2 | — | 100 | 22 | 93 | 29 | 0 | 25 | 22 | 80% |
| 18 | Monad MON | 45.3 | — | 91 | 39 | 7 | 4 | 41 | 80 | 33 | 80% |
| 19 | Aptos APT | 44.8 | — | 9 | 33 | 86 | 75 | 27 | 50 | 39 | 80% |
| 20 | Sei SEI | 44.0 | — | 13 | — | 82 | 71 | 7 | 32 | — | 59% |
| 21 | Osmosis OSMO | 43.7 | 27 | 57 | — | 64 | 79 | 21 | 0 | — | 79% |
| 22 | Liquity V2 LQTY | 43.4 | 52 | 4 | 44 | 54 | 86 | 36 | 25 | 56 | 100% |
| 23 | Sui SUI | 43.0 | — | 30 | 28 | 57 | 21 | 66 | 64 | 28 | 80% |
| 24 | Babylon BABY | 39.1 | — | 35 | 8 | 43 | 18 | 57 | 93 | 8 | 80% |
| 25 | Jito JTO | 33.1 | 23 | 61 | 8 | 29 | 46 | 66 | 14 | 8 | 100% |
| n/r | GEODNET GEOD | 50.0 | — | — | — | 18 | 32 | 82 | 75 | — | 43% |
| n/r | Grass GRASS | 47.3 | — | — | — | 14 | 64 | 41 | 61 | — | 43% |
| n/r | Aethir ATH | 46.4 | — | — | — | 50 | 36 | 27 | 55 | — | 43% |
| n/r | Initia INIT | 40.7 | — | — | — | 50 | 7 | 4 | 55 | — | 43% |
Every column sorts — click a header to re-rank by that component alone. Rows marked n/r are scored but not ranked: fewer than half their components could be measured, so the score is not comparable to a fully-measured one.
Buyback demand
Holders-revenue is the buyback bid — the protocol converting fees into open-market demand for its own token. Yield is the share of market cap repurchased per year. % of daily volume is the price-pressure term: a small cap buying a large slice of its own daily turnover compounds much harder than the same yield on a deep, liquid name.
| Token | Mkt cap | Buyback/yr | Yield | % daily vol | Days of vol | Payout | BB growth 30d |
|---|---|---|---|---|---|---|---|
| Aerodrome AERO | $451.2M | $111.1M | 24.6% | 0.78% | 2.9 | 74% | -12% |
| Marinade peer MNDE | $10.9M | $1.3M | 12.1% | 3.90% | 14.2 | 2% | 28% |
| GMX peer GMX | $76.2M | $8.6M | 11.3% | 0.48% | 1.7 | 27% | 6% |
| Hivemapper peer HONEY | $3.9M | $397.2K | 10.3% | 0.78% | 2.8 | 75% | -98% |
| PancakeSwap peer CAKE | $544.4M | $51.9M | 9.5% | 0.23% | 0.8 | 20% | 178% |
| Raydium peer RAY | $202.1M | $16.5M | 8.2% | 0.22% | 0.8 | 12% | 91% |
| Helium HNT | $33.9M | $2.7M | 8.1% | 0.26% | 0.9 | 100% | — |
| Renzo peer REZ | $25.8M | $1.9M | 7.5% | 0.07% | 0.3 | 11% | — |
| dYdX peer DYDX | $98.8M | $7.2M | 7.3% | 0.29% | 1.1 | 100% | -4% |
| Jupiter JUP | $669.3M | $46.2M | 6.9% | 0.18% | 0.7 | 18% | -1% |
| Curve peer CRV | $497.6M | $30.4M | 6.1% | 0.06% | 0.2 | 51% | -46% |
| Lido peer LDO | $299.0M | $17.7M | 5.9% | 0.08% | 0.3 | 3% | -100% |
| Pendle PENDLE | $284.0M | $16.2M | 5.7% | 0.07% | 0.3 | 79% | -16% |
| Lighter LIT | $766.8M | $39.9M | 5.2% | 0.11% | 0.4 | 45% | 1% |
| Sky (Maker) peer SKY | $1.5B | $71.0M | 4.7% | 1.20% | 4.4 | 17% | 43% |
| Hyperliquid HYPE | $17.6B | $739.2M | 4.2% | 0.14% | 0.5 | 76% | -0% |
| Ether.fi ETHFI | $575.6M | $12.2M | 2.1% | 0.03% | 0.1 | 7% | — |
| Uniswap peer UNI | $2.6B | $52.1M | 2.0% | 0.02% | 0.1 | 6% | 88% |
| Maple Finance SYRUP | $223.0M | $3.3M | 1.5% | 0.07% | 0.3 | 3% | -32% |
| Aave peer AAVE | $1.9B | $24.9M | 1.3% | 0.01% | 0.0 | 3% | -100% |
| LayerZero peer ZRO | $406.5M | $4.2M | 1.0% | 0.01% | 0.0 | 167% | -2% |
| Reserve Rights RSR | $88.2M | $882.2K | 1.0% | 0.01% | 0.0 | 15% | 70% |
| Injective INJ | $491.3M | $4.5M | 0.9% | 0.01% | 0.0 | 100% | -14% |
| Liquity V2 LQTY | $21.3M | $114.8K | 0.5% | 0.01% | 0.0 | 4% | 2244% |
| Ondo peer ONDO | $1.7B | $7.2M | 0.4% | 0.01% | 0.0 | 12% | — |
| Monad MON | $321.8M | $1.3M | 0.4% | 0.00% | 0.0 | 64% | 23% |
| Filecoin peer FIL | $612.6M | $2.4M | 0.4% | 0.01% | 0.0 | 100% | -47% |
| Aptos APT | $518.5M | $1.7M | 0.3% | 0.00% | 0.0 | 154% | -33% |
| Render peer RENDER | $733.3M | $2.1M | 0.3% | 0.01% | 0.0 | 95% | -43% |
| Sui SUI | $3.2B | $853.4K | 0.0% | 0.00% | 0.0 | 20% | -17% |
| Movement MOVE | $32.5M | $2.8K | 0.0% | 0.00% | 0.0 | 333% | — |
Days of vol = annual buyback expressed in days of current trading volume. Payout = holders-revenue ÷ total fees, i.e. how much of what the protocol earns actually reaches the token.
Full model
Rows tagged peer are benchmark comparables, not picks — Uniswap, Curve, PancakeSwap, Raydium, dYdX, GMX, Lido, Rocket Pool, Sky, Ondo and Aave. They set the sector medians so a multiple is measured against the real competitive field rather than against the rest of this watchlist. They are never scored or ranked.
Drawdown is measured on market cap, not price. Price ATH misleads whenever supply has moved: a token down 85% on price whose float tripled is only down ~55% on the number that actually has to be re-attained. Both columns are shown so the gap between them is visible — where they diverge, dilution is the reason.
days=max returns 401), so the peak column is the best of the last year. The price ATH column IS all-time, which is why a token can show a small drawdown against the 1y peak and a huge one against its ATH. Tokens whose ATH predates the window are marked †.| Token | Sector | Mkt cap | FDV | Float | MC vs 1y peak | Px vs ATH | ATH cycle | To 1y peak | Fees/yr | Revenue/yr | Take | P/S | Sector P/S | Upside to median | Rev vs cap share | Fee growth 30d | BB yield |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hyperliquid HYPE | Perp DEX | $17.6B | $79.2B | 22% | 0% | 4% | current cycle | 1.0× | $972.6M | $739.2M | 76% | 23.8× | 12.6× | -47% | 1.03× | -4% | 4.2% |
| Sui SUI | L1 | $3.2B | $7.9B | 41% | 77% | 85% | current cycle † | 4.3× | $4.3M | $853.4K | 20% | 3767.4× | 582.3× | -85% | 0.15× | -13% | 0.0% |
| Uniswap peer UNI | Spot DEX / AMM | $2.6B | $3.7B | 70% | 62% | 91% | 2021 cycle † | 2.6× | $843.8M | $67.7M | 8% | 38.6× | 10.0× | -74% | 0.32× | -1% | 2.0% |
| Bittensor peer TAO | AI / Compute | $2.1B | $4.6B | 46% | 56% | 71% | current cycle † | 2.3× | — | — | — | — | 177.9× * | — | — | — | — |
| Aave peer AAVE | Lending | $1.9B | $2.0B | 96% | 65% | 81% | 2021 cycle † | 2.8× | $829.7M | $108.2M | 13% | 17.7× | 37.5× * | 112% | 1.82× | 6% | 1.3% |
| Ondo peer ONDO | RWA / Credit | $1.7B | $3.6B | 49% | 50% | 83% | current cycle † | 2.0× | $59.3M | $9.0M | 15% | 193.6× | 16.9× | -91% | 0.36× | -4% | 0.4% |
| Aster peer ASTER | Perp DEX | $1.7B | $4.9B | 34% | 55% | 74% | current cycle | 2.2× | $442.5M | — | — | — | 12.6× | — | — | 10% | — |
| Sky (Maker) peer SKY | Stablecoin / CDP | $1.5B | $1.5B | 100% | 27% | 36% | current cycle † | 1.4× | $408.4M | $224.2M | 55% | 6.8× | 38.3× | 466% | 1.94× | -6% | 4.7% |
| Morpho peer MORPHO | Lending | $1.5B | $2.3B | 66% | 5% | 46% | current cycle † | 1.0× | $208.5M | $0 | — | — | 37.5× * | — | 0.00× | 12% | 0.0% |
| Ethena ENA | Stablecoin / CDP | $1.5B | $2.3B | 66% | 73% | 90% | current cycle † | 3.8× | $310.7M | $5.7M | 2% | 263.1× | 38.3× | -85% | 0.05× | -0% | — |
| Lighter LIT | Perp DEX | $766.8M | $3.1B | 25% | 4% | 61% | current cycle | 1.0× | $87.8M | $66.2M | 75% | 11.6× | 12.6× | 9% | 2.12× | 33% | 5.2% |
| Render peer RENDER | AI / Compute | $733.3M | $754.1M | 97% | 65% | 90% | current cycle † | 2.9× | $2.2M | $2.2M | 100% | 332.7× | 177.9× * | -47% | 0.52× | -43% | 0.3% |
| Jupiter JUP | Spot DEX / AMM | $669.3M | $1.4B | 48% | 62% | 90% | current cycle † | 2.6× | $263.5M | $92.4M | 35% | 7.2× | 10.0× | 38% | 1.70× | -2% | 6.9% |
| Filecoin peer FIL | DePIN | $612.6M | $1.5B | 42% | 75% | 100% | 2021 cycle † | 3.9× | $2.4M | $2.4M | 100% | 257.5× | 12.4× | -95% | 0.53× | -47% | 0.4% |
| Ether.fi ETHFI | Yield / Staking | $575.6M | $575.6M | 100% | 39% | 93% | current cycle † | 1.6× | $182.3M | $38.7M | 21% | 14.9× | 13.9× | -6% | 0.90× | 6% | 2.1% |
| PancakeSwap peer CAKE | Spot DEX / AMM | $544.4M | $565.2M | 96% | 64% | 96% | 2021 cycle † | 2.8× | $254.0M | $82.0M | 32% | 6.6× | 10.0× | 50% | 1.86× | 154% | 9.5% |
| Aptos APT | L1 | $518.5M | $729.9M | 71% | 87% | 97% | bear † | 7.4× | $1.1M | $1.7M | 154% | 306.0× | 582.3× | 90% | 1.90× | -33% | 0.3% |
| Curve peer CRV | Spot DEX / AMM | $497.6M | $774.2M | 64% | 61% | 98% | 2021 cycle † | 2.5× | $59.0M | $30.8M | 52% | 16.1× | 10.0× | -38% | 0.76× | 21% | 6.1% |
| Injective INJ | L1 | $491.3M | $491.3M | 100% | 66% | 91% | current cycle † | 2.9× | $4.5M | $4.5M | 100% | 109.3× | 582.3× | 433% | 5.33× | -14% | 0.9% |
| Aerodrome AERO | Spot DEX / AMM | $451.2M | $903.0M | 50% | 66% | 80% | current cycle † | 2.9× | $149.2M | $111.1M | 74% | 4.1× | 10.0× | 146% | 3.04× | -18% | 24.6% |
| Virtuals peer VIRTUAL | AI / Compute | $439.3M | $667.8M | 66% | 64% | 87% | current cycle † | 2.7× | $19.0M | $19.0M | 100% | 23.1× | 177.9× * | 670% | 7.55× | -67% | 0.0% |
| LayerZero peer ZRO | Infra | $406.5M | $1.2B | 35% | 30% | 85% | current cycle † | 1.4× | $2.5M | $4.2M | 167% | 96.1× | 96.1× | 0% | 1.58× | -16% | 1.0% |
| Celestia peer TIA | Infra | $349.2M | $428.0M | 82% | 76% | 98% | current cycle † | 4.2× | $40.9K | $0 | — | — | 96.1× | — | 0.00× | -35% | — |
| Monad MON | L1 | $321.8M | $2.7B | 12% | 37% | 44% | current cycle | 1.6× | $2.1M | $1.3M | 64% | 246.8× | 582.3× | 136% | 2.36× | 24% | 0.4% |
| Sei SEI | L1 | $302.2M | $448.8M | 67% | 86% | 96% | current cycle † | 6.9× | $102.9K | $102.9K | 100% | 2936.4× | 582.3× | -80% | 0.20× | -26% | — |
| Lido peer LDO | Yield / Staking | $299.0M | $357.6M | 84% | 78% | 95% | 2021 cycle † | 4.6× | $676.3M | $37.5M | 6% | 8.0× | 13.9× | 74% | 1.67× | 12% | 5.9% |
| Jito JTO | Yield / Staking | $298.0M | $580.8M | 51% | 62% | 90% | bear † | 2.6× | $190.6M | $11.9M | 6% | 25.0× | 13.9× | -44% | 0.53× | 4% | 0.0% |
| Pendle PENDLE | Yield / Staking | $284.0M | $464.3M | 61% | 72% | 78% | current cycle † | 3.6× | $20.6M | $20.0M | 97% | 14.2× | 13.9× | -2% | 0.94× | -16% | 5.7% |
| Maple Finance SYRUP | RWA / Credit | $223.0M | $237.7M | 94% | 60% | 71% | current cycle † | 2.5× | $111.1M | $14.4M | 13% | 15.5× | 16.9× | 9% | 4.54× | -4% | 1.5% |
| Raydium peer RAY | Spot DEX / AMM | $202.1M | $416.2M | 49% | 80% | 96% | 2021 cycle † | 5.0× | $137.5M | $20.3M | 15% | 10.0× | 10.0× | 0% | 1.24× | 91% | 8.2% |
| Grass GRASS | AI / Compute | $195.9M | $299.3M | 65% | 45% | 92% | current cycle † | 1.8× | — | — | — | — | 177.9× * | — | — | — | — |
| Compound peer COMP | Lending | $194.4M | $194.4M | 100% | 58% | 98% | 2021 cycle † | 2.4× | $32.3M | $3.4M | 11% | 57.3× | 37.5× * | -35% | 0.56× | 4% | 0.0% |
| Akash peer AKT | AI / Compute | $157.6M | $157.6M | 100% | 53% | 93% | 2021 cycle † | 2.1× | $1.9M | $0 | — | — | 177.9× * | — | 0.00× | 16% | — |
| GEODNET GEOD | DePIN | $104.5M | $220.3M | 47% | 45% | 39% | current cycle † | 1.8× | — | — | — | — | 12.4× | — | — | — | — |
| Sonic S | L1 | $101.7M | $101.7M | 100% | 92% | 97% | current cycle † | 11.9× | $240.7K | $216.3K | 90% | 470.3× | 582.3× | 24% | 1.24× | -39% | — |
| dYdX peer DYDX | Perp DEX | $98.8M | $111.6M | 89% | 82% | 97% | current cycle † | 5.5× | $7.2M | $7.2M | 100% | 13.7× | 12.6× | -8% | 1.80× | -4% | 7.3% |
| Aethir ATH | AI / Compute | $90.8M | $189.4M | 48% | 89% | 96% | current cycle † | 8.8× | — | — | — | — | 177.9× * | — | — | — | — |
| Reserve Rights RSR | Infra | $88.2M | $141.0M | 63% | 83% | 99% | 2021 cycle † | 5.8× | $5.8M | $883.2K | 15% | 99.8× | 96.1× | -4% | 1.52× | 7% | 1.0% |
| GMX peer GMX | Perp DEX | $76.2M | $76.2M | 100% | 59% | 92% | bear † | 2.4× | $31.9M | $11.8M | 37% | 6.5× | 12.6× | 96% | 3.80× | 6% | 11.3% |
| Berachain BERA | L1 | $55.9M | $98.0M | 57% | 86% | 99% | current cycle † | 6.9× | $85.4K | $80.6K | 94% | 694.2× | 582.3× | -16% | 0.84× | 21% | — |
| Babylon BABY | Infra | $53.1M | $134.4M | 39% | 68% | 93% | current cycle † | 3.1× | $1.1K | $0 | — | — | 96.1× | — | 0.00× | -11% | 0.0% |
| Centrifuge CFG | RWA / Credit | $50.9M | $91.1M | 56% | 77% | 67% | current cycle | 4.4× | $59.8M | $5.4M | 9% | 9.4× | 16.9× | 80% | 7.49× | 16% | 0.0% |
| Axelar peer AXL | Infra | $49.9M | $50.9M | 98% | 86% | 98% | current cycle † | 7.2× | $73.4K | $0 | — | — | 96.1× | — | 0.00× | 16% | 0.0% |
| MegaETH MEGA | L1 | $43.9M | $389.0M | 11% | 82% | 82% | current cycle | 5.6× | $644.9K | — | — | — | 582.3× | — | — | 8% | — |
| Rocket Pool peer RPL | Yield / Staking | $36.2M | $36.2M | 100% | 79% | 97% | bear † | 4.8× | $38.5M | $0 | — | — | 13.9× | — | 0.00× | 63% | — |
| Helium HNT | DePIN | $33.9M | $33.9M | 100% | 93% | 100% | 2021 cycle † | 15.0× | $2.7M | $2.7M | 100% | 12.4× | 12.4× | 0% | 11.06× | — | 8.1% |
| Movement MOVE | L1 | $32.5M | $75.0M | 43% | 91% | 99% | current cycle † | 11.4× | $836 | $836 | 100% | 38882.2× | 582.3× | -99% | 0.01× | 763% | 0.0% |
| Osmosis OSMO | Spot DEX / AMM | $28.3M | $35.1M | 81% | 79% | 100% | 2021 cycle † | 4.7× | $5.0M | $1.6M | 32% | 17.8× | 10.0× | -44% | 0.69× | 3% | — |
| Renzo peer REZ | Yield / Staking | $25.8M | $29.1M | 89% | 45% | 99% | current cycle † | 1.8× | $16.9M | $1.9M | 11% | 13.6× | 13.9× | 2% | 0.98× | 16% | 7.5% |
| Hyperlane HYPER | Infra | $22.4M | $53.5M | 42% | 64% | 90% | current cycle † | 2.8× | $1.3M | $1.3M | 100% | 17.8× | 96.1× | 441% | 8.56× | 20% | 0.0% |
| Liquity V2 LQTY | Stablecoin / CDP | $21.3M | $21.5M | 99% | 77% | 100% | 2021 cycle † | 4.3× | $2.7M | $555.7K | 20% | 38.3× | 38.3× | 0% | 0.34× | -34% | 0.5% |
| Clearpool peer CPOOL | RWA / Credit | $19.2M | $19.2M | 100% | 88% | 99% | 2021 cycle † | 8.1× | $61.7K | $0 | — | — | 16.9× | — | 0.00× | 32% | 0.0% |
| Initia INIT | L1 | $11.0M | $53.6M | 21% | 83% | 96% | current cycle † | 5.9× | — | — | — | — | 582.3× | — | — | — | — |
| Marinade peer MNDE | Yield / Staking | $10.9M | $13.9M | 78% | 90% | 99% | 2021 cycle † | 9.8× | $60.8M | $4.5M | 7% | 2.4× | 13.9× | 475% | 5.52× | -5% | 12.1% |
| Hivemapper peer HONEY | DePIN | $3.9M | $3.9M | 100% | 96% | 100% | bear † | 24.5× | $529.6K | $397.2K | 75% | 9.7× | 12.4× | 27% | 14.09× | -98% | 10.3% |
| Goldfinch peer GFI | RWA / Credit | $3.4M | $4.1M | 83% | 94% | 100% | 2021 cycle † | 16.6× | $1.6M | $186.9K | 12% | 18.3× | 16.9× | -8% | 3.83× | 74% | — |
Take = protocol revenue ÷ total fees. It matters enormously: for RWA and staking protocols most "fees" are yield belonging to users, so every multiple here is built on revenue, not fees. Rev vs cap share = share of sector revenue earned ÷ share of sector market cap held. Above 1× means the market prices it below what it earns relative to its peers. * marks a sector median drawn from fewer than three priced members — directional only.
Projected revenue
data/assumptions.json to put your own view in, then re-run the projector.Growth is seeded from trailing 30-day fees, clamped to [-60%, 150%], shrunk — toward the sector median, then decayed 0.60× a year — because no protocol compounds at its current rate forever. Holders-revenue assumes today's payout ratio holds, so a fee switch that changes breaks the projection.
| Token | Revenue TTM | Bear y3 | Base y3 | Bull y3 | Fwd P/S y3 | Fwd BB yield y3 | Upside vs median | Growth y1 |
|---|---|---|---|---|---|---|---|---|
| Injective INJ | $4.5M | $6.7M | $6.6M | $6.0M | 74.4× | 1.3% | 683% | 21% |
| Centrifuge CFG | $5.4M | $4.5M | $18.2M | $18.2M | 2.8× | — | 503% | 78% |
| Monad MON | $1.3M | $2.1M | $2.1M | $2.1M | 153.5× | 0.7% | 279% | 27% |
| Maple Finance SYRUP | $14.4M | $35.2M | $45.8M | $80.1M | 4.9× | 4.7% | 247% | 74% |
| Reserve Rights RSR | $883.2K | $3.7M | $2.4M | $4.3M | 36.6× | 2.7% | 163% | 62% |
| Hyperlane HYPER | $1.3M | $591.6K | $591.6K | $4.5M | 37.8× | — | 154% | -33% |
| Aptos APT | $1.7M | $1.5M | $1.6M | $1.8M | 319.2× | 0.3% | 82% | -2% |
| Aerodrome AERO | $111.1M | $60.3M | $81.0M | $262.9M | 5.6× | 17.9% | 79% | -15% |
| Ether.fi ETHFI | $38.7M | $87.4M | $71.9M | $56.2M | 8.0× | 3.9% | 74% | 36% |
| Jupiter JUP | $92.4M | $50.9M | $88.6M | $420.1M | 7.6× | 6.6% | 32% | -2% |
| Hyperliquid HYPE | $739.2M | $1.1B | $1.4B | $3.0B | 12.4× | 8.0% | 2% | 38% |
| Pendle PENDLE | $20.0M | $20.7M | $17.8M | $53.2M | 16.0× | 5.1% | -13% | -6% |
| Lighter LIT | $66.2M | $36.3M | $36.3M | $36.3M | 21.1× | 2.9% | -40% | -27% |
| Sonic S | $216.3K | $94.5K | $94.5K | $94.5K | 1076.9× | — | -46% | -36% |
| Liquity V2 LQTY | $555.7K | $238.7K | $234.7K | $218.9K | 90.7× | 0.2% | -58% | -37% |
| Berachain BERA | $80.6K | $35.2K | $35.2K | $230.3K | 1589.6× | — | -63% | -36% |
| Jito JTO | $11.9M | $4.3M | $5.2M | $17.7M | 57.3× | — | -76% | -36% |
| Ethena ENA | $5.7M | $11.1M | $4.5M | $5.3M | 333.4× | — | -89% | -12% |
| Sei SEI | $102.9K | $50.8K | $46.9K | $95.7K | 6438.1× | — | -91% | -34% |
| Sui SUI | $853.4K | $327.9K | $327.9K | $327.9K | 9803.5× | 0.0% | -94% | -41% |
| Movement MOVE | $836 | $373 | $373 | $373 | 87042.1× | 0.0% | -99% | -35% |
| MegaETH MEGA | — | — | — | — | — | — | — | -6% |
Fwd P/F y3 = today's market cap against base-case year-3 fees. Upside vs median = what that forward multiple implies against the sector's current median P/F — re-rating on grown revenue rather than on sentiment. Sorted by that column.
What this does not capture
Method
Market data: CoinGecko. Fees/revenue/holders-revenue: DefiLlama (annualized1y). Buyback proxied by holders-revenue. Regenerate with python3 tools/fetch_market_data.py && python3 tools/compute_valuation.py && python3 tools/render_valuation.py. Every figure on this page is derived, never hand-entered, so a stale number is a stale snapshot rather than a stale claim.