SUI and APT have been experiencing significant growth lately, and DropsTab decided to compare the metrics of both projects:

Sui:
▫️ Price increased by 200% in the last 2 months following the launch of Grayscale's $SUI Trust.
▫️ TVL grew by 69.4% over the past month.
▫️ DAU increased by 72.4% in the last 3 months, with daily transactions reaching an all-time high of 117M.

Aptos:
▫️ Franklin Templeton added the Aptos blockchain to support its $435M tokenized money market fund.
▫️ TVL increased by 57.2% over the last month.
▫️ DAU grew by 333% in 3 months, with daily transactions increasing by approximately 310%.

Just dropped the list of protocols that managed to achieve PMF in 2024.

Some interesting data here, with restaking being the main PMF narrative this year.

After nearly 2 years since the FTX crash, it's interesting to analyze how the industry has been recovering.

The recovery was primarily driven by the price increases of key assets like $SOL, $TON, and $TRX, which have almost doubled in value.

Arbitrum became the first L2 to cross $200B in swap volume on the Uniswap Protocol.

Arbinauts are conquering the DeFi space with unprecedented strength.

Artemis shared an awesome stablecoin market map for this year.

Check it out!

The Ethereum ETF is facing a downturn in interest, as outflows have been recorded, while the Bitcoin ETF has seen substantial inflows.

After 79 days of trading:

• $BTC ETF Inflows: +$29.1B
• $ETH ETF Outflows: -$4.1B

Chainlink, Ethereum, Bitcoin, Solana, and XRP are among the assets drawing the most negative sentiment from the crowd during this moderate crypto downturn.

Interestingly, coins that attract the most bearish narratives often have the highest potential for a rebound. You can check the full list of such coins in the post.

To prevent October from being a complete disappointment due to market drops, I suggest taking a look at the new DePIN sector map from Messari – there are plenty of projects worth exploring here.

You can view the Messari map and report on DePIN at the link.

Let's talk revenue as the best indicator of a product sustainability.

Some numbers ↓

• Tron: $194M / month.
The absolute leader in the L1 landscape by revenue.
Yeah, 200% more revenue than Ethereum ($93M / month).

• Solana: $15.5M / month.
That's more than the amount earned by TON ($2.7M), BNB Chain ($1.2M), and Avalanche ($656K) together.

• Uniswap: $7M / month.
The most successful DeFi app ever.
Btw Velodrome has $2M in 30d revenue – 200%+ more than what Optimism earns ($870K).

• Lido: $6.8M / month.

• Jito: $1.4M / month.

• Aave: $4.5M / month.
In the lending category, btw, Maple and Goldfinch are at less than $100K.

• GMX: $1.28M / month.
More than dYdX ($533K) and Synthetix ($497K) together.

• ENS: $850K / month.

• Opensea: $645K / month.

• Layer3: $480K / month.

• Convex: $450K / month.
For context, this is comparable to the revenue of Arbitrum ($545K).

On a side note (so you can compare):

Bethesda's average revenue per game is $39.6M.

Discord generates $48M / month.

Zoom has $330M / month.

Tether generates $400M / month.

Husqvarna (not even sure all of you know this Swedish brand) generates $350M / month.

Samsung has $15B / month.

The data comes from Token Terminal and quarterly revenue reports from Web2 companies from 2023-2024.

Despite the fact that the market has been volatile over the past three years, the number of useful applications has increased.

This trend may continue, and the applications will keep generating revenue.

Bitcoin's current market movement resembles the 2013 and 2020 cycles, with two profit peaks for long-term investors, unlike 2017.

As global interest rate cuts begin, liquidity may take time, but positive price movements are expected by 2025, making long-term investment the smarter strategy.

Short-term traders drive memecoins, with $DOGE leading the way.

Remarkably, $DEGEN matches Shiba Inu’s 23,000 active traders despite having just 10% of its market cap, far ahead of other memecoins.

The more I research Web2/Web3 revenues, the crazier the picture gets.

Nvidia earned $30B in Q2 2024, which annualizes to $120B.
Its market cap stands at $3.31 trillion.
Revenue-to-market cap ratio: 0.036.

Sony's revenue in 2023 was $87B.
Market cap: $116B.
Revenue-to-market cap ratio: 0.75.

Zoom's revenue in 2023 was $4.2B
Its market cap is $21B.
Revenue-to-market cap ratio: 0.2.

Ethereum earned $1.5B from Q1 to Q3 2024.
In Q3, it had its lowest recorded revenue due to Dencun and market sentiment effects.
Assuming Q4 will be similar, the annualized revenue for Ethereum is approximately $1.7B.
Its current market cap is $290B.
Revenue-to-market cap ratio of 0.0058.

I began investigating why the discrepancies between market cap and revenue are so significant and found a compelling explanation on Reddit ↓

Valuations are often of questionable value in determining a company's "importance."

Tesla, for instance, will be remembered in automotive history for proving that mass manufacturing of good and practical EVs was possible, leading other automakers to follow suit. As for Tesla's economic importance, it doesn't even rank in the top 10 automotive manufacturers by volume—VW produces nearly ten times as many cars.

It's unclear if the above is bullish or bearish, but it highlights the speculative nature of the markets, especially for large companies.

As long as brands stay solvent, revenue isn't crucial.
Innovation is.

Liquid staking on Avalanche is booming, with total staked $AVAX on Benqi Finance steadily rising.

Notably, less than 20% of all depositors have withdrawn from the protocol so far.

Berachain sentiments reached an all-time high recently.

Mainnet coming soon? 🐻⛓️

Prediction markets...
Something fun and degen, you say.

You may not realize it yet, but prediction markets could be as transformative as the emergence of ChatGPT or Ethereum.

Key findings from Delphi's latest report on prediction markets ↓

Market sentiment is gradually improving, according to Kaito AI.

Low caps have contributed to this upward trend.

Who became the price gainer over the past week?

Let’s take a look at the statistics from DropsTab.

The recent launch of cbBTC led to rapid growth, and the token's market capitalization exceeded $350 million in just one month.

To surpass its competitor WBTC, the token still has a long way to grow.

On October 14, Bitcoin spot ETFs saw an inflow of $556 million.

This is the largest net inflow since early June 2024.