# CRV ranks in the middle of its peers

CRV ranks 6 out of twelve when two-year Ethereum pool volume is divided by average circulating market value.

Ethereum pools traded $1.92 billion of CRV. That equals 1.74 times its average circulating market value over the study window.

The rank is 5 with liquid float and 2 with provider supply.

CRV’s provider denominator is close to its liquid float. Other tokens’ provider denominators differ more, which changes their ordering.

## Turnover depends on the supply denominator

Two-year pool-leg USD volume divided by mean daily circulating supply market value. Ethereum, 27 October 2024–26 October 2026. Tokens are ordered by the selected measure. SKY and MKR are combined as SKY-equivalent. Peer supply definitions retain the documented gaps, including ENA and historical UNI.

[Figure](../charts/rank_circulating.svg) · [Data](../data/rank_circulating.csv)

| Observation | Circulating supply (times) |
| --- | --- |
| CVX | 3.175 |
| BAL | 2.7436 |
| SKYEQ | 2.3944 |
| AAVE | 2.3548 |
| LDO | 2.0176 |
| CRV | 1.739 |
| UNI | 1.4256 |
| 1INCH | 1.276 |
| LINK | 0.8595 |
| ENA | 0.6139 |
| PENDLE | 0.5913 |
| COMP | 0.5205 |

## Turnover depends on the supply denominator

Two-year pool-leg USD volume divided by mean daily liquid float market value. Ethereum, 27 October 2024–26 October 2026. Tokens are ordered by the selected measure. SKY and MKR are combined as SKY-equivalent. Peer supply definitions retain the documented gaps, including ENA and historical UNI.

[Figure](../charts/rank_liquid_float.svg) · [Data](../data/rank_liquid_float.csv)

| Observation | Liquid float (times) |
| --- | --- |
| CVX | 7.4193 |
| BAL | 3.9597 |
| SKYEQ | 3.4414 |
| AAVE | 2.8639 |
| CRV | 2.8455 |
| LDO | 2.0176 |
| 1INCH | 1.5766 |
| UNI | 1.4256 |
| LINK | 0.9182 |
| PENDLE | 0.837 |
| ENA | 0.6597 |
| COMP | 0.5205 |

## Turnover depends on the supply denominator

Two-year pool-leg USD volume divided by mean daily provider supply market value. Ethereum, 27 October 2024–26 October 2026. Tokens are ordered by the selected measure. SKY and MKR are combined as SKY-equivalent. Peer supply definitions retain the documented gaps, including ENA and historical UNI.

[Figure](../charts/rank_provider.svg) · [Data](../data/rank_provider.csv)

| Observation | Provider supply (times) |
| --- | --- |
| CVX | 3.4466 |
| CRV | 2.8505 |
| BAL | 2.722 |
| SKYEQ | 2.4256 |
| AAVE | 2.3917 |
| LDO | 1.9723 |
| ENA | 1.5253 |
| UNI | 1.4492 |
| 1INCH | 1.2757 |
| LINK | 0.8575 |
| PENDLE | 0.8056 |
| COMP | 0.5228 |

## Measurement

Turnover is total period volume divided by the mean daily market value of the stated supply. Pool-leg volume counts each exchange event, so a multi-pool route can contribute several legs. It is not a count of independent purchases. Peer supply coverage is documented in Methods.