Bathymark Analysis Standard
Is the COMP reading confirmed underneath price?
COMP scores 51: valuation leads (0.1x market cap to protocol depth, 8x market cap to annual fees, 90x market cap to annual revenue), with liquidity depth the soft spot.
- State
- Deepening
- Confidence
- high100% component coverage. Visible risk covers 4 of 4 lanes.
- Observed
Three strongest drivers
- Liquidity depth9 / 100$164.79M market cap, $1.25B protocol depth
- Valuation77 / 1000.1x market cap to protocol depth, 8x market cap to annual fees, 90x market cap to annual revenue
- Real demand