Empire

What's Wrong with Crypto Data (And How To Fix It) | Roundup

18 snips
Jan 17, 2025
Guest
Dan Smith
Dan Smith, Head of Data at Blockworks and former co-host of Lightspeed, dives into the flaws of traditional crypto metrics. He explains why revenue (REV) is a crucial indicator, outperforming metrics like active addresses. The discussion highlights Solana's rise over Ethereum through revenue analysis and Base's position in the Layer 2 landscape. Additionally, they unpack recent crypto payment acquisitions and the implications of Trump's proposed U.S. token reserve, emphasizing the importance of accurate blockchain revenue reporting.
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INSIGHT

Flawed Crypto Data

  • Crypto data is flawed, especially regarding blockchain "revenue".
  • Blockchains are networks, not businesses, so traditional revenue models don't apply.
INSIGHT

Introducing REV

  • REV (Realized Value) is a better metric, capturing all user-paid value for transaction execution, including tips.
  • It considers all stakeholders, not just unstaked token holders.
INSIGHT

REV for Investors

  • REV helps individual investors assess fundamental value through P/REV and P/E ratios, derived from token holder net income.
  • However, fundamental value isn't the only driver of token price.
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