The L1 Revenue Apocalypse: One Chain Prints 3x Ethereum, Another is Dead Silent
The current L1 revenue projections for 2025 reveal a brutal truth about network valuation. When we strip away the narratives, cash flow is king. The nearly $950M printed by Hyperliquid is a staggering figure—it is currently generating nearly three times the revenue of $ETH. This isn't just growth; it's a structural realignment where high-velocity derivatives are sucking up fee revenue, demanding immediate attention from macro analysts. While $SOL demonstrates robust usage and strong fundamentals at $347M, the real fundamental problem lies lower down the list. A network like $ADA, consistently ranking among the top-10 in market cap, is forecast to generate only $1.9M. That level of revenue relative to its valuation is a fundamental red flag that investors must reconcile. The market will eventually price chains based on utility, not just promises.
This is not financial advice. Do your own research.
#L1s #CryptoRevenue #Valuation #BTC #Hyperliquid
🧐
