Marketcap is a completely useless number - at least in crypto. It says nothing useful.
While 24h volume is much more easily manipulated it is still more useful imo (if we look at the average of 24h volume).

Transacrions fees vary wildly so I also don't think that's useful. Besides, automated services (like gambling) or even pools which pay out very frequently will push the transaction fees up.

Hash rate is also somewhat useless due to its fluctuating nature. While the fluctuation is lower for bigger coins, it can swing very wildly for smaller to medium coins.
And because of multipools the hashrate follows the current price very closely so if there's a price increase the hashrate follows.
So if we were to use hashrate as a metric similar to marketcap then a spike in hashrate/price would push the price/hashrate even higher becaue of newbies making irrational investments based on hashrate.

I don't think there's a one size fits all formula.