Yuval Rooz, the co-founder of Canton, has highlighted a notable value gap across many smart contract blockchains built for financial infrastructure. He argues that valuations frequently surpass the level of on-chain activity and realized revenue. He warns that many networks struggle with transaction volume and tangible financial use cases to justify their valuations; stablecoins are still concentrated on a small number of chains.
As investors increasingly prioritize actual income and usage metrics, a revaluation of smart contract blockchains may be on the horizon. This shift could influence how markets price these networks relative to real-world activity.
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