DeFiance Capital founder: The crypto market may have entered the end stage of the "Fat Protocol Theory"


DeFiance Capital founder and chief investment officer Arthur stated on social media that the cryptocurrency market may have entered the final stage of the "Fat Protocol Theory", which has caused long-term harm to the investment value of cryptocurrencies other than Bitcoin. He pointed out that the valuation of successful application projects is usually 5 to 15 times the revenue, while the valuation of infrastructure projects that have seen little growth in the past two years is still 150 to 1000 times the revenue. He believes that the speculative premium bubble of cryptocurrency infrastructure has officially burst.