Blackhole V3 β Statistical Analysis
Blackhole V3 exhibits high capital efficiency with a 24h Volume/TVL ratio of 1.17x, yet faces substantial recent declines in both TVL and trading volume amidst a complete lack of audits and single-chain reliance.
Updated: Β· Data Window: 24h / 7d / 30d (varies by metric availability)
1. Market Overview
Blackhole V3 operates with a Total Value Locked (TVL) of $29.3M, which has experienced a -9.47% decline in the last 24 hours. The protocol's 24-hour trading volume stands at $34.2M, representing a significant -43.66% decrease from the previous day. Over a 30-day period, the accumulated volume reached $1.40B, generating $741.9K in fees and revenue. The protocol currently lists 29 coins across 43 trading pairs.
2. Capital Efficiency
The protocol demonstrates strong capital efficiency, with a 24-hour Volume/TVL ratio of 1.17x ($34.2M / $29.3M), indicating high asset turnover within a single day. Over a 30-day horizon, this ratio escalates to an impressive 47.78x ($1.40B / $29.3M). Daily fees of $16.8K translate to an approximate 0.06% daily yield on TVL, or 2.53% monthly based on 30-day fees of $741.9K relative to current TVL. While turnover is high, the recent sharp decline in 24h volume suggests potential volatility in this efficiency.
3. Liquidity & Pair Spread
Blackhole V3 supports 29 unique coins and 43 trading pairs. This equates to an average of approximately 1.48 pairs per listed coin, suggesting a focused rather than broad liquidity provision across assets. The entirety of the protocol's TVL, $29.3M, is concentrated on a single chain, indicating a centralized liquidity strategy.
4. Chain Dominance
Blackhole V3 exhibits 100% chain dominance on Avalanche, with all $29.3M of its TVL deployed exclusively on this network. This singular focus implies a deep integration and dependency on the Avalanche ecosystem for its operational liquidity and user base. There is no diversification of TVL across other blockchain networks.
5. Analyst Verdict
Blackhole V3 shows robust daily capital efficiency with a 24h Volume/TVL of 1.17x and significant 30-day volume. However, the protocol carries substantial risk due to a -9.47% 24h TVL change and a dramatic -43.66% drop in 24h trading volume. Furthermore, the complete absence of audits (0) and an N/A trust score are critical security and reliability concerns. The protocol's entire $29.3M TVL is solely reliant on Avalanche, posing a single-point-of-failure risk. With a market cap of $1.7M, its token valuation appears low relative to generated fees, possibly reflecting these underlying risks.