Svmuu, ARK Invest Director of Digital Asset Research Lorenzo Valente posted on X, stating that the crypto space now has a "graveyard" that no one wants to walk into, but it is filled with overlooked, high-quality protocols. Their token prices have fallen 70%, 80%, or even 90% from all-time highs, yet they still generate fees, continue to grow, and maintain leadership in their respective fields — they just lack attention. He gave examples:
Aave: P/E ratio of only 9x
Solana: P/E ratio of 12x, holding $6 billion in free cash flow
Ethereum: P/E ratio of 17x, yet treated as a "has-been asset"
Uniswap: EBITDA of 8x, chain influence covering approximately 2 billion users
Avalanche (AVAX): Trading below the liquidation value of its own treasury
Valente noted that many protocols were venture capital favorites in 2021 but are now market orphans. Compared to chasing the currently trendy Hype and Near, greater opportunities lie in finding value among assets that have fallen into "rubble territory." He emphasized: "You don't get rich by buying the assets everyone loves; you get rich by buying assets that are temporarily out of favor but have solid fundamentals."