Market structure
as of 2026-07-09 · data through 2026-03-31How the market is organized right now: measured, not predicted. Read across two lenses: the broad market, and our own on-chain reconstruction.
Left = dispersed (capital rotating into individual stories). Right = one body (everything follows the leader).
Standing out on their own
Beyond the market's common move: and whether it is building or fading.
- COMPreceding
- ETHreceding
- AEROreceding
- BTCoscillating
- LTCreceding
- INJoscillating
The same reading built only from our sovereign on-chain data, no external feed. It runs more dispersed than the broad market: on-chain-native names move on their own reasons.
- FETemerging
- MYRIAemerging
- CHEXemerging
- JASMYemerging
- AGRSemerging
Signal tiers
Where it actually trades
Share of volume on-chain vs everywhere. Low share = it mostly trades on exchanges; our on-chain price is a thin reference there. On-chain shares are a floor. We count each token's deepest pool, so names that trade across many pools sit higher than shown.
- WETH≥6.7% on-chain
- EURC≥4.3% on-chain
- PAXG≥2.9% on-chain
- ZORA≥1.5% on-chain
- AERO≥1.3% on-chain
Tradeable edge, after cost
Of 200 on-chain names, 0 clear a 50bp gap once fees, gas and slippage are paid. The edge, if any, lives on the deepest liquidity, not the thin names.
Our reconstruction vs the market
Our on-chain rebuild matches the broad market at 0.986. The widest gap is BNB: a same-asset, different-instrument divergence (a bridged or thin-liquidity name).