A week-over-week momentum overview of the top blockchains & dapps across our key metrics.
💰Total value locked (TVL)
Which projects currently have the most assets deposited into their smart contracts?
Top projects by latest TVL
This week’s top gainers by TVL
While TVL is useful as a technical metric to measure how much value is deposited into a protocol's smart contracts, it doesn't necessarily tell investors how a protocol is performing financially. Check out our brief video on TVL, i.e. what it means & how it can be used to measure the performance of different protocols.
📈Total revenue (fees paid)
Which projects have generated the most fees/yield?
Top projects by cumulative total revenue in the past 7 days
This week’s top gainers by total revenue
📉Price to sales (P/S) ratio
How are projects priced relative to total fees/yield generated?
Top projects by latest P/S ratio
This week’s top movers by P/S ratio
While the P/S ratio offers a highly useful and accurate tool for relative analysis between different early-stage crypto protocols, it’s always worth considering how much of the fee revenue or usage is tied to token incentives that are paid to users – a data point that we’re actively working on including in all of our dashboards. Check out our brief video on the P/S ratio, i.e. what it means & how it can be used to analyze different protocols.
Protocol revenue is the share of the total revenue that accrues to the benefit of token holders or the company behind the protocol.
Top projects by cumulative protocol revenue in the past 7 days
This week’s top gainers by protocol revenue
Protocol revenue represents the share of revenue generated from a protocol’s business that is subsequently allocated to its treasury or distributed to its token holders. It is important to keep in mind that protocol revenue does not equal profit. To calculate the profitability of a project, you must account for the team's operational expenses and any token incentives being paid out.
📉Price to earnings (P/E) ratio
The 'E' in the P/E ratio is based on protocol revenue, i.e. the share of the total revenue that accrues to the benefit of token holders or the company behind the protocol.
Top projects by latest P/E ratio
This week’s top movers by P/E ratio
Note that we have yet to include cost & expense data in full for these protocols (e.g. off-chain development costs & token incentives), which is why these numbers should be used as directional input for a protocol’s valuation.
*Note: We have excluded dapps & blockchains with revenue figures under $10k/week.
**Note: ‘change’ is calculated as a snapshot comparison, whereas ‘trend’ is calculated by comparing the given time interval against its previous time interval.
📽 This week’s video
🌟 Tweet of the week
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