Bathymark Analysis Standard
Is the ETHFI reading confirmed underneath price?
ETHFI scores 57: valuation leads (0.1x market cap to protocol depth, 3x market cap to annual fees, 10x 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 depth12 / 100$400.52M market cap, $3.43B protocol depth
- Valuation85 / 1000.1x market cap to protocol depth, 3x market cap to annual fees, 10x market cap to annual revenue
- Trend quality