Grayscale: HYPE, PUMP, and CAKE rank among the top three on-chain application revenues, with the valuation multiples of many projects below 10x
According to ChainCatcher, Grayscale has posted the current ranking of the top 15 on-chain applications by protocol revenue. Hyperliquid (HYPE) ranks first with $871 million in 12-month protocol revenue, followed by Pump.fun (PUMP, $459 million) and PancakeSwap (CAKE, $322 million).
The accompanying graphic shows that several leading applications now have real cash flow and relatively low operating costs, but current valuation multiples remain low. For example, the revenue multiples of projects like PUMP, CAKE, and METEORA are only 1x, AERO is 4x, and LDO is 3x.
Grayscale stated that, as the CLARITY Act may move forward in the coming weeks, these on-chain applications with real revenue and relatively reasonable valuations could become attractive allocation opportunities.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meta lost the lawsuit and may face a record fine of up to 219 billions dollars.
Meta lost a lawsuit in New Mexico, USA. The jury found that Meta engaged in deceptive practices regarding public communications and data privacy policies, violating state laws. The New Mexico Attorney General described the verdict as a "milestone moment" in holding tech giants accountable and will petition the court to impose a maximum civil fine of $219 billion on Meta. Meta stated that it disagrees with the verdict and will continue to defend itself.
Chinese Yuan: Consolidation with downside risk toward 6.7330 – UOB
New York Late Money Rates from The Wall Street Journal
Crypto prices
More
