CoinDesk·5 min read·medium
Crypto investors are looking past market-cap rankings and back to fundamentals
F
Francisco Rodrigues
✦AI Summary
Crypto investors are shifting their focus from market-cap rankings to traditional financial fundamentals like revenue, adoption, and economic value. Industry experts note that institutional interest is driving this transition toward venture-capital-style analysis of decentralized applications.
During an interview with CoinDesk, Bitwise CEO Hunter Horsley described the shift as the end of crypto’s “CoinMarketCap leaderboard” era. In earlier cycles, investors often valued new layer-1 networks as a fraction of the largest blockchain above them, he said. Smaller projects were then priced at a discount.
businesscryptoeconomy
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