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L1 projects in crisis: 33 trillion yuan valuation with only 90,000 yuan daily revenue
Source: TokenPost Original Title: [Token Analysis] Daily Revenue of 90,000 Yuan with a Valuation of 3.3 Trillion Yuan… The Dilemma of VC Coins from an L1 Coin Perspective Original Link: In the past 24 hours, the on-chain fee revenue of a certain blockchain L1 project was only $67 (about 90,000 RMB), a figure that is even lower than the daily income of a convenience store worker.
However, the project’s fully diluted market cap (FDV) reaches as high as $2.55 billion (about 3.3 trillion RMB).
The Huge Gap Between Valuation and Revenue
This reflects the core dilemma faced by current VC coins: although they have secured large-scale financing and high valuations, their actual on-chain activity and revenue-generating capacity are severely mismatched. The project is large in scale but has weak fundamental support.
Risk Warning
Similar phenomena of valuation and actual revenue being seriously out of balance are not uncommon in the industry. This reminds investors that when evaluating projects, they should not only focus on the financing background and market cap but also deeply examine the project’s actual operational capabilities and on-chain activity.