🤔Which Protocols for Fundamental Investors?

In crypto, we often jump from one narrative to another (memecoins, AI, etc.)

But this time, fundamentals-based investing could win out.

This morning, I'm presenting five protocols that haven't yet pumped as much as meme coins 😏but are developing and growing strongly.

🔹 Fluid (FLUID)

- DeFi super-app combining a DEX and a money market.

- Impressive growth: +21,202% annual fees.

- Already ranked 6th in DEX volume despite a presence limited to Ethereum and Arbitrum.

🔹 Hyperliquid (HYPE)

- L1 dedicated to perps, with a highly engaged community.

- 407,000 users and >$5 billion in volume.

- Direct competition with Binance.

🔹 Pendle (PENDLE)

- Leading yield trading protocol.

- TVL of $4.3 billion (25x higher than its direct competitor).

- Future upgrades: "Boros" and "Citadel".

🔹 Ethena (ENA)

- USDe stablecoin ($5.4 billion market cap).

- New product: USDtb (backed by BlackRock's BUIDL).

- Institutional blockchain project: 'Converge'.

🔹 Jupiter (JUP)

- All-in-one trading platform on Solana.

- $2.3 trillion in aggregated volume.

- Planned launch of 'JupNet', a multi-layer 1 blockchain.

These protocols combine growth, innovation, and long-term potential. It would be interesting to follow these protocols very closely. 🧐