Thermocap
Cardano
Thermocap is the cumulative total of all the money ever paid to ADA stake pool operators, valued in USD at the time each block was produced.
Why it matters
It measures the aggregate security spend and real capital committed to the network since inception.
How it is built
Every staking reward plus fees is valued at the USD price on its block-production day and summed cumulatively into a monotonically rising total.
What to watch
As a floor-like measure of embedded cost, Thermocap underpins valuation ratios (e.g. price-to-Thermocap) used to judge whether ADA is cheap or expensive relative to its security investment.
Measured on this chain
Thermocap on Cardano last read 5.91B on Aug 25, 2026, a change of +0.74% over 30 days, ranging from 4.81B (Jun 17, 2024) to 5.91B (Aug 25, 2026).
- Latest reading
- 5.91B
- Aug 25, 2026
- Change
- 1d +0.01%
- 30d +0.74%
- 90d +1.99%
- 1y +7.07%
- Range
- Low 4.81B·Jun 17, 2024
- High 5.91B·Aug 25, 2026
- Coverage
- Jun 17, 2024 — Aug 25, 2026
- 800 readings
| Date | Value |
|---|---|
| Aug 14, 2026 | 5.88B |
| Aug 15, 2026 | 5.88B |
| Aug 16, 2026 | 5.88B |
| Aug 17, 2026 | 5.88B |
| Aug 18, 2026 | 5.88B |
| Aug 19, 2026 | 5.9B |
| Aug 20, 2026 | 5.91B |
| Aug 21, 2026 | 5.91B |
| Aug 22, 2026 | 5.91B |
| Aug 23, 2026 | 5.91B |
| Aug 24, 2026 | 5.91B |
| Aug 25, 2026 | 5.91B |
Read from our own stored series, not quoted from a page.