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🧵👇