Blast batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense). Bridge depositors deposit ETH or stablecoins to Blast and receive a yield from ETH staking or T-bill strategies.

Blast is an L2 smart contract platform for decentralized applications on Ethereum. Blast has an inherent yield generation mechanism, coming from ETH staking and RWA protocols. Blast was founded by Pacman and launched in 2023.

Blast team and investors currently own and govern the protocol. Blast's investors include Paradigm, Standard Crypto, Santiago, etc.

twitter

discord

website

Blockchains (L2)

Blast

# Blast Token turnover (circulating) Methodology

## 1. Overview

Token turnover circulating measures the ratio of a token's annualized trading volume to its circulating market capitalization. This metric indicates how frequently the circulating supply of tokens changes hands through trading activity, providing insight into the liquidity and trading activity relative to the token's market value. A higher turnover ratio suggests more active trading relative to the token's market cap.

## 2. Data sources

The calculation relies entirely on external market data from CoinGecko:
- **Token trading volume data**: Daily trading volume figures from CoinGecko API for the Blast token across all tracked exchanges
- **Token price feeds**: End-of-day price data from CoinGecko for accurate market valuation
- **Circulating supply data**: CoinGecko's tracked circulating supply figures for the Blast token, which excludes locked, staked, or otherwise non-tradeable tokens
- **Market data timestamps**: CoinGecko's standardized daily timestamp data for consistent time series alignment

## 3. Step-by-step calculation

### Component A: Token trading volume
- **Purpose**: Calculate the annualized trading volume for the Blast token
- **Logic**: Retrieve daily trading volume data from CoinGecko API for the Blast token. The data includes trading volumes aggregated across all exchanges that CoinGecko tracks. The daily volume is then annualized by applying appropriate scaling factors to represent equivalent annual trading activity. Any missing data points are filled with zeros using the fill_zeros strategy to maintain time series continuity.
- **Key fields**: Daily `volume` amounts in USD, `timestamp` for daily boundaries, annualization multipliers for converting daily figures to annual equivalents

### Component B: Circulating market cap
- **Purpose**: Calculate the circulating market capitalization of the Blast token
- **Logic**: Combine circulating supply data with price data from CoinGecko to determine market cap. The circulating supply represents only tokens that are freely tradeable and excludes locked, staked, or team-held tokens. This supply figure is multiplied by the end-of-day token price to calculate the circulating market cap in USD. Missing data points are handled with zero-filling to maintain consistent time series.
- **Key fields**: `circulating_supply` in native token units, `price` in USD per token, calculated `market_cap` in USD

### Final aggregation
- **Combining components**: The token turnover ratio is calculated by dividing the annualized trading volume by the circulating market cap for each time period
- **Currency conversion**: Both components are already standardized in USD through CoinGecko's data processing, eliminating the need for additional currency conversion
- **Time aggregation**: Data is processed on daily boundaries using consistent timestamps from CoinGecko's standardized time series
- **Final calculation**: Token Turnover Circulating = Annualized Trading Volume ÷ Circulating Market Cap. The result represents how many times the equivalent of the circulating market cap is traded per year. Data is filtered to include only dates from June 26, 2024 onwards, corresponding to when reliable data became available for the Blast token.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

${token_trading_volume} / ${market_cap_circulating}

Average daily token trading volume divided by circulating market cap.

BlastBLAST

Archived

Token turnover (circulating)

Token turnover (circulating)

Competitive landscape