Why it is in the 11
- Fair real demand (5.2% daily turnover, $6.8K a day in fees)
- Fair positioning (+11% funding, $27.05M open interest)
- Fair narrative (quiet in the attention feeds right now)
sounding live water._-~=+*#*+=~-_.
Loading market readingsCardano ADA
A large-cap L1 with modest DeFi depth relative to its market cap.
44/ 100
Rank #0 of 11 · SailDrainingHigh confidence
ADA scores 44: real demand leads (5.2% daily turnover, $6.8K a day in fees), with valuation the soft spot.
Price$0.1438
Market cap$5.36B
Fair-water48% below
Chain depth$81.55M
What this page answers
ADA carries a Pick Score of 44 of 100 and is ranked 0 in the Deep 11. ADA scores 44: real demand leads (5.2% daily turnover, $6.8K a day in fees), with valuation the soft spot. The score is a sounding of open data: liquidity depth, real demand, valuation, trend, positioning, and narrative, less a risk penalty.
The score, broken open
Seven components, then a risk penalty. Bars show each component's 0 to 100 reading; the percentage is its weight in the composite. A greyed bar means we had no data and read it neutral.
Liquidity depth20%24
$5.36B market cap, $81.55M chain depth, $61.17M stablecoins
Real demand20%56
5.2% daily turnover, $6.8K a day in fees
Valuation15%21
2148x market cap to annual fees, 1.21x FDV to market cap
Trend quality15%37
0.52x its long trend, -39% over 30 days
Positioning10%56
+11% funding, $27.05M open interest
Narrative10%48
quiet in the attention feeds right now
Source coverage10%100
6 of 6 reads backed by live open data
Risk penalty-1.3Low risk
Fair-water band
Where the models say the water sits. A model-implied range from open data, not a price target and not advice.
now $0.1438
$0.2423fair $0.2753$0.3083
48% below fair-waterLow confidence
- Long trend$0.2753200-day average price, a mean-reversion anchor
A model-implied range from open data, not a price target and not advice. Read it as where the water sits, not where it is going.
What would remove it
A further slide in valuation (2148x market cap to annual fees, 1.21x FDV to market cap) would pull it out.
- chain depth draining -7% this week
Depth against price
The chain's liquidity depth (TVL) against ADA's price on a shared timeline. The divergence between them is the reading.
Depth vs price · 179d
depth-ledWhere Cardano liquidity parts from ADA
$196.62M$82.21M$0.4210$0.1435
Jun 30$82.21M$0.1456
Liquidity is holding better than price. Depth is leading, the kind of divergence that reads as real deepening rather than a price move.
Depth from DeFiLlama chain TVL, price from the open DeFiLlama coins feed (CoinGecko id). TVL is in dollars, so it moves partly with price by construction, the reading here is the gap between them, not a forecast. Information, not financial advice.
Derivatives pressure
Funding, annualised+11%
Open interest$27.05M
Open interest / market cap+0.5%
Funding and open interest from Hyperliquid's public perps API. Funding is the cost of holding leverage, a read of which way the crowd is leaning, not a forecast.
The source trail
Every number on this page is a sounding of open, keyless data.
- CoinGecko price, market cap, and supply
- DeFiLlama chain TVL, fees, and stablecoin depth
- Hyperliquid perp funding and open interest
Bathymark reads these open numbers and renders its own sounding. This is information, not financial advice. Confidence is high, set by how complete the data is.
Connected to ADA
Drawn from the entity graph, so a question that starts here always has somewhere to go.