Institutional Capital Is Reshaping Crypto | Analyst Round Table

Jun 19, 2025

Dive into the evolution of crypto, where the focus shifts from speculative hype to real revenue generation. Discover how institutional investments are reshaping market dynamics and influencing valuation strategies. Learn about the integration of centralized and decentralized exchanges, and the challenges faced by new tokens in a competitive landscape. Join the debate on market trends and predictions, including insights on token buybacks and the exciting future of Solana-related products.

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INSIGHT

Crypto's Shift to Fundamentals

Crypto has transitioned from narrative-driven to fundamentals-driven investing, emphasizing revenue generation.
Revenue data availability enables valuation similar to traditional equities, marking crypto's maturation.

INSIGHT

Narrative and Fundamentals Coexist

Narrative-driven price action remains significant but now coexists with fundamental valuation.
The market is about 60% fundamentals, 40% narratives, reflecting a balanced approach.

ADVICE

Embrace Crypto Fundamentals

Don't fight crypto fundamentals; they indicate promising growth and real revenue.
Embrace the evolving metrics that industry participants and institutions use for valuation.

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In this episode, we unpack crypto’s “revenue meta,” the shift from narrative-driven investing to fundamentals, and how token value accrual is evolving. We also cover CEX-DEX integrations, PumpFun’s token valuation, HYPE buybacks, and why institutional capital is reshaping market dynamics. Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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Timestamps:

(0:00) Introduction

(1:43) Evaluating Crypto Fundamentals

(18:49) Ads (Katana & Ledger)

(19:26) Crossover Between CEXs & DEXs

(29:42) Ads (Katana & Ledger)

(30:47) PumpFun's Valuation

(40:51) Ads (Marinade & Algorand)

(41:53) HYPE Buybacks

(47:10) Permissionless is Next Week

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.