While still early, this recent uptrend for blue-chip DeFi protocols with substantial revenue and the majority of their supply in circulation may signal a shift
This recent uptrend for blue-chip DeFi protocols with substantial revenue and the majority of their supply in circulation may signal a shift from hype-driven narratives to a focus on fundamental metrics.
This shift is likely a response to this cycle’s disillusionment with outrageous launch fully-diluted values (Launch FDV), which has led to a preference for older protocols with most of their tokens already unlocked over newly-launching protocols.
With the influence of institutional investors this cycle and their traditional processes of evaluation, protocols with solid fundamentals may see substantial returns as this bull run continues, making the industry more mature and thus increasing its longevity.
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