this post was submitted on 03 Jul 2023
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Weekly General Discussion - July 02, 2023 <-> July 09, 2023 (kbin.social)
submitted 2 years ago by refugeddit@kbin.social to c/ethfinance@kbin.social
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[–] kingleo23@kbin.social 4 points 2 years ago (2 children)

Nice investor report from BoA on digital assets.

Key takeaways:

  1. "TradFi" is in their abbreviations list.
  2. Eth's Market Value/Tx fees = 88, this is only beaten by Tron (8) which has had 163% increase in tx fees this year. I suspect this is related to whatever is going on with TUSD. Further down in the Defi section it's noted that 66% of Tron's defi TVL is in 1 application. Polkadot (16395) and Stellar (21652) rounding out the bottom on the Market value/tx fees metric.
  3. Arbitrum and Optimism leading the way (in percentage growth terms) for DeFi TVL with 223% and 198% respectively over the last 1 year. ETH TVL down 8% in that timeframe. I suspect much of that L2 growth is L1 migrations. Arb and Opt also have the lowest Mkt Cap/TVL metrics.
[–] hanniabu@kbin.social 0 points 2 years ago (1 children)

Eth's Market Value/Tx fees = 88

What's the point of this metric? What can be inferred by it?

[–] kingleo23@kbin.social 2 points 2 years ago

Just a way to look at the market cap relative to the protocol revenue via fees. Fees can be a surrogate for usage/utility/financial sustainability, and in cases like ETH, value accrual to the token via EIP1559 burn. A lower value there may suggest relative undervaluing of the token, whereas high values may indicate overvaluing. There's a lot of nuance that's not captured by that metric but I think it's an interesting data point.