Valuation models
How do you value a crypto asset?
Seven transparent models — from Stock-to-Flow to cash-flow valuation — applied to live market data. Adjust the assumptions, compare assets and save your own expectation. All nine models — including Metcalfe and Realized Price — are explained on the explainer page.
Compare models
All assets side by side on scarcity, dilution and priced-in market size.
| Asset | Price | Market cap | S2F model price | TAM 5% | Dilution | |
|---|---|---|---|---|---|---|
| Bitcoin BTC | — | — | — | — | — | View models |
| Ethereum ETH | — | — | — | — | — | View models |
| Solana SOL | — | — | — | — | — | View models |
| XRP XRP | — | — | — | — | — | View models |
| Cardano ADA | — | — | — | — | — | View models |
| Polkadot DOT | — | — | — | — | — | View models |
| Chainlink LINK | — | — | — | — | — | View models |
| Avalanche AVAX | — | — | — | — | — | View models |
| Litecoin LTC | — | — | — | — | — | View models |
| Dogecoin DOGE | — | — | — | — | — | View models |
| Tether USDT | — | — | — | — | — | View models |
| USD Coin USDC | — | — | — | — | — | View models |
| Dai DAI | — | — | — | — | — | View models |
| Ethena USDe USDe | — | — | — | — | — | View models |
| PayPal USD PYUSD | — | — | — | — | — | View models |
| First Digital USD FDUSD | — | — | — | — | — | View models |
| USDD USDD | — | — | — | — | — | View models |
| TrueUSD TUSD | — | — | — | — | — | View models |
| Euro Coin EURC | — | — | — | — | — | View models |
| STASIS EURO EURS | — | — | — | — | — | View models |
| Monerium EUR EURe | — | — | — | — | — | View models |
| Sky Dollar USDS | — | — | — | — | — | View models |
| World Liberty Financial USD USD1 | — | — | — | — | — | View models |
| Global Dollar USDG | — | — | — | — | — | View models |
| Circle USYC USYC | — | — | — | — | — | View models |
| BlackRock USD (BUIDL) BUIDL | — | — | — | — | — | View models |
| BNB BNB | — | — | — | — | — | View models |
| Tron TRX | — | — | — | — | — | View models |
| Base BASE | — | — | — | — | — | View models |
| Hyperliquid HYPE | — | — | — | — | — | View models |
| Arbitrum ARB | — | — | — | — | — | View models |
| Polygon POL | — | — | — | — | — | View models |
| Monad MON | — | — | — | — | — | View models |
| Plasma XPL | — | — | — | — | — | View models |
| Provenance HASH | — | — | — | — | — | View models |
Models
A model is not a forecast. Read how it works, what it assumes and where it breaks.
Stock-to-Flow (S2F)
Scarcity as a yardstick: existing stock divided by annual new issuance.
S2F = voorraad / jaarlijkse uitgifte · prijs ≈ 0,4 × S2F³ (USD)
How does this model work?Power law (time model)
Price as a power function of network age in days.
prijs ≈ a × dagen^b (log-log regressie sinds genesis)
How does this model work?Mayer Multiple (200-day average)
How far is price above or below its 200-day moving average?
Mayer = koers / 200-daags voortschrijdend gemiddelde
How does this model work?NVT proxy (network value / turnover)
Crypto's price-earnings analogue: market value divided by traded volume.
NVT = marktkapitalisatie / 24u-volume
How does this model work?Addressable market model (TAM)
What if this asset captures a share of an existing market?
prijs = (marktomvang × veroverd aandeel) / circulerend aanbod
How does this model work?Cash-flow model (network revenue × multiple)
Value a blockchain like a business: annual fee revenue times a valuation multiple.
prijs = (jaarlijkse netwerkinkomsten × multiple) / circulerend aanbod
How does this model work?Supply and dilution model
What happens to price once the full supply is in circulation?
verwaterde prijs = huidige marktwaarde / totaal aanbod
How does this model work?
Not investment advice. Models are scenarios, not forecasts.