This is the new frame of thought from all the institutional investors entering digital assets en masse. This isn't 2021 anymore. Return to fundamentals.
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Welcome to month 6 of the revenue meta.
Fees vs. inflation.
Price to earnings.
Metcalfe's law.
Network effects.
Risk-adjusted yield.
Power law return profile.
Networks as businesses.
L1 valuation compressions.
This is the new frame of thought from all the institutional investors entering digital assets en masse. This isn't 2021 anymore. Return to fundamentals.