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@0xjbaptista "$pump multiples will change as soon as their revenue structure changes over time"
X Link @0xjbaptista 2025-10-15T14:21Z XXX followers, XXX engagements

"Let me reframe it in a different way. With the launch of PumpSwap PumpFun has become more similar to a DEX and the market is given similar price multiples to this sector. 1) Over XX% of the PumpFun revenue is now coming from PumpSwap. With the share continues to grow. 2) Price to Fees for DEX sector ranges between 1;3 Uniswap P/S : XXXX PancakeSwap P/S : XXXX Raydium P/S : XXXX PumpFun P/S : XXXX The market is essentially pricing PumpFun as if it were becoming another DEX with limited upside beyond being a profitable DEX. - I disagree with this view. PumpFun started as a token launchpad"
X Link @0xjbaptista 2025-10-15T14:13Z XXX followers, 2384 engagements