{
 "id": "backed-coinbase-global",
 "symbol": "BCOIN",
 "name": "Backed Coinbase Global",
 "archetype": "RWA",
 "archetype_reason": "category match: 'real world assets (rwa)'",
 "contract": {
  "chain": "polygon-pos",
  "address": "0xbbcb0356bb9e6b3faa5cbf9e5f36185d53403ac9"
 },
 "price": {
  "price_usd": 162.83,
  "ath_usd": 419.78,
  "ath_date": "2025-07-19T10:05:03.114Z",
  "market_cap": 6898162,
  "volume_24h": 93.49,
  "price_chg_30d_pct": 0.6055,
  "price_chg_60d_pct": -22.75617,
  "price_chg_200d_pct": -32.05281,
  "coingecko_url": "https://www.coingecko.com/en/coins/backed-coinbase-global"
 },
 "provenance": {
  "batch_date": "2026-07-14",
  "bagcheck_version": "0.17.1",
  "snapshot_id": "2026-07-14 v16",
  "label": "scored monthly \u00b7 batch of 2026-07-14"
 },
 "refused": false,
 "reclaim": {
  "severity": "MODERATE",
  "line": "Down 61% from ATH \u2014 reclaiming it needs 2.6\u00d7 from here. Historically ~34% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 61.2,
  "reclaim_multiple": 2.6,
  "base_rate_label": "down 50-70%",
  "base_rate": 0.34,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 2.6\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 50.2,
  "aliveness": "WEAKENING",
  "aliveness_note": "Multiple systems weakening; the project is in decline.",
  "mechanical_aliveness": "WEAKENING",
  "band_capped": false,
  "confidence": "HIGH",
  "confidence_detail": "measuring 5 of 6 factors (88% of the weight that matters for a RWA asset)"
 },
 "bottom_line": "Down 61%, aliveness reads WEAKENING. Being functional is not recovery \u2014 the reclaim base rate is ~34%.",
 "factors": [
  {
   "factor": "solvency",
   "label": "Structural solvency / liveness",
   "weight": 0.25,
   "status": "measured",
   "score": 70.0,
   "detail": "4 commits/4wk, 7 contributors, last commit 1d ago \u2014 actively developed.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.15,
   "status": "measured",
   "score": 65.0,
   "detail": "holders +1/30d (+5.3%, Bin 7/10 vs 180 RWA peers) \u2014 holders are accumulating against the drawdown. [RWA bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 5.0,
   "detail": "$93/24h (Bin 1/10 vs 215 RWA peers), 0.00% turnover (Bin 1/10) \u2014 exit liquidity is thin for its class \u2014 selling moves the price.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.12,
   "status": "pending",
   "score": null,
   "detail": "",
   "note": "daily active addresses + 30d trend (wired: Coin Metrics natives/majors, Santiment tokens); transfer-activity proxy (wired: Tron/Blockscout explorers, labeled tier); derivatives OI & funding (v1); for AI/DePIN: network resource demand \u2014 GPU-hours / storage deals / subnet emissions share (v1)"
  },
  {
   "factor": "supply",
   "label": "Supply overhang & emissions",
   "weight": 0.2,
   "status": "measured",
   "score": 55,
   "detail": "100% of supply circulating (Bin 8/10 vs 265 RWA peers), FDV/MC 1.0x (Bin 7/10), no max supply \u2014 meaningful dilution still to come \u2014 uncapped supply (perpetual emission risk, capped).",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 50.0,
   "detail": "30d +1% (Bin 8/10 vs 265 RWA peers), 200d -32% (Bin 3/10) \u2014 middle of its peer pack.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only."
 ]
}