❯ Is SOL overvalued? Fundamentals breakdown
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├─ CoinGecko ✓ Messari ✓ DefiLlama ✓ Token Unlocks ✓
├─ SEC EDGAR ✓ FinancialDatasets ✓ Nansen ✓ Snapshot ✓
└─ 24/24 sources responded in 9.2s
FUNDAMENTALS ASSESSMENT
VerdictFAIRLY VALUED
VALUATION METRICS
Market Cap$78.4B (rank #5)
FDV / MC Ratio1.18x — moderate dilution risk
Revenue (30d)$48.2M — up 142% QoQ
MC / Revenue136x — elevated vs ETH (89x)
Active Addresses2.1M daily — ATH, growing 18% MoM
SUPPLY DYNAMICS
Circulating84.7% of total supply
Next Unlock12.4M SOL in 34 days ($2.1B) [F:3]
Staking Rate67.2% — strong lockup [F:6]
KEY EVIDENCE
• Revenue growth outpacing all L1 competitors — 142% QoQ vs ETH’s 23% [F:1]
• DeFi TVL at $4.8B — 3rd largest ecosystem, growing [F:4]
• MC/Revenue at 136x is rich but justified by growth rate [F:2]
• Upcoming unlock creates near-term supply pressure [F:3]
RISK FACTORS
• FDV dilution of 18% still outstanding — monitor unlock schedule [F:3]
• Network outage history (last: 6 months ago) remains a tail risk [F:7]
Specialists:fundamentalsonchaindefimacrotechnicalmarket-state
[F:n] = source footnote — each claim is traced to a specific data provider