What Based governs
Based is a DeFi protocol governance token, currently ranked 560th by market capitalization among the assets we track. Based sits at the center of a decentralized-finance application. The token coordinates governance, sometimes routes protocol revenue to holders, and ties its value to how much the underlying protocol is actually used.
How value is supposed to accrue
The economic question is whether Based captures the value its protocol creates. Total value locked and fee revenue are the inputs; the token's design decides how much of that reaches holders.
Background & fundamentals
In sector terms it is most often filed under Binance Coin (BNB) Token (BEP-20), Decentralized Exchange (DEX), and Derivative.
Where Based sits in the market
At $0.0994, Based carries a market capitalization of $23.35M. Around $18.43M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 78.93% of the float — unusually high, the kind of churn that accompanies major news or speculative spikes.
Almost the entire BASED supply is already in circulation (~100.0% of the 1B cap), so future dilution is effectively off the table. The token is roughly -69% under its record of $0.3181 — a meaningful but not catastrophic drawdown. Measured from its all-time low of $0.00003000, BASED is up +331,171%.
What the price history shows
Across timeframes, BASED shows 24-hour +5.65%, 7-day +48.42%. Across roughly the last 64 days of daily candles, BASED endured a peak-to-trough drawdown of about 63% before stabilizing.
Volatility profile
Recent action puts Based in the Extreme-volatility band — it is in a high-volatility regime — these are the conditions where outsized gains and losses both become more likely.
How to evaluate a DeFi token like Based
For an asset of this type, three lenses matter most:
- Protocol revenue — fees the application actually earns, and whether any of it reaches BASED holders.
- Total value locked — how much capital trusts the protocol — and how sticky it is versus mercenary yield.
- Token utility — whether BASED is load-bearing (governance over real value, fee rights) or decorative.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
