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DESK·04

The Ledger

VI

The value lens — market cap vs fully-diluted valuation, circulating vs max supply, and turnover. Scarcity and network value for assets with no cash flows.

Valuation Ledger

Value signals for assets with no cash flows — scarcity (circulating vs max supply), dilution overhang (FDV vs market cap) and turnover (24h volume ÷ market cap, an NVT-lite).

COINGECKOupdated —
AssetPrice24hMkt CapFDVCirc / MaxTurnoverfrom ATH
BTC···············
ETH···············
SOL···············
BNB···············
XRP···············
DOGE···············
ADA···············
AVAX···············