Axes
The x-axis shows open interest and the y-axis shows circulating market cap. Both axes are logarithmic, so distance on the chart represents relative scale: moving one step means multiplying value, not adding the same dollar amount.
Inspired by PerpetualPulse
CMC circulating market cap
Regression market cap
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Most overvalued
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Selected tokens only
Most undervalued
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Selected tokens only
R^2
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Last update
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DEX
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Symbol | Token price | Regression price | Delta | Valuation | OI | Market cap CMC | Regression market cap |
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How to read this chart
Points
Blue points are projects with live CoinMarketCap market cap data. Red points are projects whose market cap is estimated by the regression. Grey points are real tokens that remain visible, but are excluded from the regression calculation.
Regression Line
The red line is the model estimate of market cap based on open interest. Tokens above the line trade at a richer market cap than the model implies. Tokens below the line trade at a cheaper market cap than the model implies.
Valuation
A token is marked overvalued when its live token price is higher than the regression-implied price. It is marked undervalued when the live price is lower than the regression-implied price.
R^2
R^2 measures how much of the selected tokens' market cap variation is explained by open interest. A higher value means the line fits the current selection better, but it should be treated as a fit score rather than proof that open interest fully explains valuation.