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![incryptfol Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1844348415083413507.png) folva [@incryptfol](/creator/twitter/incryptfol) on x XX followers
Created: 2025-07-09 23:36:30 UTC

2/
$4B FDV is this a lot or not?

to judge and not just blindly bash @a1lon9, let’s take a clear-headed look at the project’s metrics:

Annual revenue: $374.97M (fees = revenue);
Monthly DEX volume: $2.936B;  
Quarterly revenue growth: 

• Q1 2024: $2.45M;
• Q2 2024: $47.9M;
• Q3 2024: $63.53M;
• Q4 2024: $207.32M;
• Q1 2025: $252.66M;

alright, since we’re at it, let’s calculate the P/E ratio and compare it with other companies already in the market.

• Conservative P/E 15x: $374M × XX = $5.6B FDV;  
• Standard P/E 20-25x: $374M × 20-25 = $7.5-9.4B FDV; 
• Growth company P/E 30-40x: $374M × 30-40 = $11.2-15B FDV.

and the last boring bullshit (probably not) is comparing it to the big boys:

• Coinbase (2023): Revenue $3.1B, Market Cap $13B (P/E ~4.2x);  
• Robinhood (2023): Revenue $1.9B, Market Cap $8.5B (P/E ~4.5x).  

i dare say, based on my observations, that for fast-growing fintech, P/E 10-20x is standard.

![](https://pbs.twimg.com/media/GvctDPnXcAA00CS.jpg)

XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1943091925721964701/c:line.svg)

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[Post Link](https://x.com/incryptfol/status/1943091925721964701)