Robert Koschig

Narratives vs. price moves - what drives what?
Data from @KaitoAI:

1) Mindshare over time: the trend is your friend

2) Some narratives (Runes) see mindshare lead price; others (DeFAI) the opposite; mostly unclear though

3) Tokens: same as 2), though e.g. @02_SPX6900: mindshare -> price, contrary to the Meme category

Details👇

Narratives vs. price moves - what drives what?
Data from @KaitoAI:

1) Mindshare over time: the trend is your friend

2) Some narratives (Runes) see mindshare lead price; others (DeFAI) the opposite; mostly unclear though

3) Tokens: same as 2), though e.g. @spx6900: mindshare -> price, contrary to the Meme category

Details👇

@McKinsey came up with an attention equation - I wonder how those values compare to incomes from @BAT_Token:
https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/the-attention-equation-winning-the-right-battles-for-consumer-attention

Having great discussions at #IEEEICBC Pisa DePIN workshop today.
It was only 944 days ago that @Old_Samster and @Selkis_2028 put the term DePIN out there via Twitter poll- we‘ve come a long way!

While others chase attention with @stayloudio, DePINs just build silently.
E.g. @ArweaveEco:
ATH #nodes (now >500)
ATH endowment
ATH revenue in May (token & $)
ATL P/S ratio (FDV/ annualized rev.)
AND - the Network is profitable (using est. miner cost, YTD numbers)

While others chase attention with @stayloudio, DePINs build silently.
E.g. @ArweaveEco:
Record #nodes (now >500)
Record endowment
Record revenue in May (token & $)
Record low P/S ratio (FDV/ annualized rev.)
AND - the Network is profitable (using est. miner cost, YTD numbers )

Some points on REV/valuations:
1️⃣ Valuation dynamics similar w/ or w/o MEV
2️⃣ BTC: price barely moves with REV
SOL: dynamics driven by REV
ETH: trying to figure things out in the middle
3️⃣ Peaks of SOL & ETH val's at similar levels of P/S ratio and REV as % of token supply

We @1kxnetwork just released part 3 of our DePIN Tokenomics Series with @tech_metrics and @dylangbane from @MessariCrypto:
What Drives Valuations? Let's look into
1️⃣ Revenue
2️⃣ Token liquidity
3️⃣ And more
with data from 80 DePINs incl. details on @helium , @ionet, @GEODNET_ , @Hivemapper, @Arkreen, @GlowFND, @Covalent_HQ , @ArweaveEco,
@NATIXNetwork, @WeatherXM and more

Prices are ripping again- time to revisit fundamentals. Using data from 180+ protocols ( @DefiLlama , @tokenterminal, @Dune)- here are 3 key aspects you should know when looking at Price‑to‑Sales ratios:
1️⃣ Sector cluster
2️⃣ Trendline slope
3️⃣ Trendline history
Let me explain🧵👇