【5 Underrated High-Potential Protocols, Which One Are You Eyeing?】

The recently updated Protocol Rankings show that a number of protocols excel in dimensions such as TVL growth, yield capabilities, and capital efficiency, yet their token market values remain low. Here are 5 projects worth paying attention to 👇

1. Pendle (Yield Trading)

TVL reached 6.75 billion, 1-month increase +40%, daily income of $63,000, unit TVL yield ≈ 0.00093%, higher than most staking protocols. A leader in the stablecoin interest rate market, accommodating high-yield stablecoins like Ethena, with significant growth potential, and a market cap just over 600 million, severely undervalued.

2. Ether.fi (Liquid Staking + Payments)

TVL broke 10.5 billion, 1-month growth +62%, annual income exceeds 36 million. A diverse product line covering staking, DeFi strategies, and payment cards, with income used to repurchase tokens, market cap under 500 million, capital efficiency and growth far exceeding Lido's stage during the same period.

3. Ethena (CeDeFi Stablecoin)

TVL nearly 8 billion, 1-month increase +45%, daily income 91,000, annual income over 100 million, USDe annual interest rate as high as 20%+. The token has just started profit-sharing, and a market cap of 4 billion still does not fully reflect its growth and income potential.

4. EigenLayer (Re-staking)

TVL as high as 18.6 billion, growth rate +59%, yet the token market cap is only 400 million. Currently has not started charging, once value capture is realized, its 'security as a service' model could reshape the Ethereum ecosystem, with huge expected discrepancies.

5. Morpho (Lending Optimization)

TVL reached 6 billion, growth +42%, optimizing daily interest earnings for users exceeding 450,000. The protocol is currently not profitable, but if it collects a 10% interest spread in the future, it will bring in tens of millions in annual income. The token has just been launched, with a market cap of only 580 million.

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📌 These protocols are not just speculative concepts, but represent real growth + real locking in + real income. TVL surges, capital efficiency is excellent, while token market values lag behind, fitting the typical characteristics of 'undervalued value'.

Pay attention to them, perhaps it will be the starting point of the next cycle's doubling #美联储利率决议