Supply metrics
Total supply
The total number of tokens that exist on-chain, read directly from the token contract.Circulating supply
Total supply minus tokens held in non-circulating addresses (e.g., treasury wallets, burn addresses, locked contracts). Circulating supply reflects tokens that are available to the market. For most assets, circulating supply equals total supply. Where it differs, we identify non-circulating addresses through issuer disclosure or on-chain analysis.Bridged token supply
Supply adjusted for bridging activity. On the target chain, bridged token supply equals circulating supply. On the source chain, bridged tokens are subtracted from circulating supply to avoid double-counting tokens that have moved cross-chain.Raw supply and rebase multiplier
For rebasing tokens (where token balances change automatically without transfers), we track the raw (base unit) supply separately from the display supply. The display supply equals the raw supply multiplied by the rebase multiplier. Non-rebasing tokens have a rebase multiplier of 1.Value metrics
Net asset value (NAV)
See NAV & Yield for detailed methodology on how NAV is sourced, standardized, and displayed.Price
The current market price of one token in USD, sourced from exchange aggregators. Price is used to calculate market value metrics. NAV-based metrics (total asset value, circulating asset value) are calculated separately from issuer-reported NAV. Price and NAV are independent.Market value
Total supply multiplied by price. This represents the total value of all tokens in existence.Circulating market value
Circulating supply multiplied by price. This is the primary measure of an asset’s market size on the platform, as it excludes locked or non-circulating tokens.Total asset value
For fund-style assets, the total value of all assets under management. This may differ from market value if the token trades at a premium or discount to NAV.Circulating asset value
Circulating supply multiplied by NAV.Yield metrics
See NAV & Yield for detailed methodology on yield calculations, including SEC-standard formulas and how accumulating vs. distributing structures are handled.Activity metrics
Holding addresses count
The number of unique addresses holding a non-zero balance of the token, counted directly from on-chain state. The adjusted holding addresses count excludes known infrastructure addresses (bridges, smart contracts, treasury wallets) to approximate the number of distinct end-user holders.Holder concentration
The percentage of total supply held by the top 1, 5, or 10 addresses. Calculated from on-chain balance data.Active addresses
The number of unique addresses that sent or received the token during a given period. Daily counts cover a single calendar day (UTC). Trailing counts (7-day, 30-day, 90-day, 365-day) cover the specified rolling window.Transfer volume
The total USD value of peer-to-peer transfers during the period. This excludes mints and burns; only transfers between holders are counted.Mints and burns
- Mints represent new token issuance (tokens created by the issuer)
- Burns represent redemptions (tokens destroyed and removed from circulation)
Aggregation
Metrics can be aggregated across multiple entities (e.g., all assets in an asset class, all tokens on a network). When aggregating:- Sum is used for additive metrics (supply, value, volume, holder counts)
- Weighted average is used for rate metrics (APY, yield to maturity), weighted by circulating market value
- Aggregation respects the stock vs. flow distinction: supply and value are point-in-time snapshots, while mints, burns, and transfers are accumulated over the period