Only consider LA as the market may miss key points. As of August 27, 2025 (UTC+8), CMC’s real-time page shows the scale: price approximately $0.33, 24h trading approximately $11.37 million, circulation approximately 193 million, ranking ~#496 (real-time values fluctuate, but the standards are unified). These are thermometers; the center relies more on the combined effects of supply events, network usage, and external demand.
First, look at the supply side. CMC's AI/community analysis has repeatedly pointed out this month: from August 11 to December 12, about 40 million LA (approximately 20% of circulation) flowed into exchange addresses on-chain, raising market concerns about short-term selling pressure and inflation; the same analysis also mentioned that a 4% annualized increase in issuance and subsequent unlocking rhythm would add supply pressure. In the face of such events, the most effective approach is to place on a table (1) the scale and timing of transfers, (2) the depth/price spread of major trading pairs, (3) the task volume and invocation volume of the proof network/Euclid, to see if the 'supply shock' is absorbed by demand and depth, avoiding purely emotional interpretations.
Next, look at the demand side. The utility chain of LA comes from three aspects: the 'fuel fees' of the proof network, governance and parameter voting, and network participation related to re-staking/operations. When the verifiable queries of ZK Coprocessor and the task volume of DeepProve's zkML increase, and when LSC/cross-chain status is referenced by more applications, the task volume of the proof network naturally expands, along with fees and staking. This is 'organic demand', which is more sustainable than short-term activities. Binance’s research page presents this product line of 'AI verifiability – cross-chain data – proof network' in parallel, corresponding exactly to the sources of demand for LA.
External endorsements and capital can also provide 'non-price clues'. The $13.2M seed round in May 2024 was led by Founders Fund, with participants including Archetype, 1kx, Maven11, FENBUSHI, Volt, CMT Digital, Mantle Fund, etc.; these types of institutions have a long-term preference in the infrastructure track, which determines a higher tolerance for 'running the project → building the ecosystem → forming network effects'. Combined with the network launch in 2024-2025, expansion of operators, and Euclid metrics, the market conditions can write 'technical realization progress' as a compound interest curve, rather than just focusing on daily fluctuations.
Finally, use a combinatorial observation method. Create fixed weekly updates for (supply) unlocking/transfers/issuance, (demand) task volume/invocation volume/cooperative integration, (market) depth/price spread/position distribution; especially when DeepProve-1 has just pushed LLM inference proof to production boundaries, Coprocessor 1.0 is expanding chain coverage, and Prover Network maintains a scale of 85+ institutions, the valuation pivot of LA naturally returns to 'intensity of use', rather than a single event.
@Lagrange Official #lagrange $LA
