Are Fundamentals Back?
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- 🇮🇳 Indian Exchange WazirX Hacked for $230M. The massive theft of user funds was perpetrated by North Korean hackers, Elliptic says.
Read more on Bankless.com - 🟦 BlockFi's Creditor Repayments Start this Month. Distributions via Coinbase will begin in July for eligible U.S. clients.
Read more on Bankless.com - 😓 New U.S. Unemployment Numbers Higher Than Expected. Higher-than-expected unemployment claims are the latest bear signal for investors.
Read more on Bankless.com
📸 Daily Market Snapshot: Crypto markets seem to be banking on a Trump win relaxing regulation in the space; media reporting indicating a potentially imminent Biden exit out of the Presidential race sent prices dipping amid election uncertainty. Early reporting seems to be betting on his exit over the weekend, though his campaign has not indicated anything publicly either way.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.34T | ↘0.9% | ↗10.4% |
|
BTC $63,763 | ↘1.1% | ↗11.0% |
|
ETH $3,423 | ↗0.3% | ↗10.3% |
|
MNT $0.85 | ↗10.5% | ↗21.5% |
While narrative and sentiment certainly play a huge role in short-term price action for tokens, this cycle’s tides seem to be shifting back to fundamentals.
In the past month, older, revenue-generating protocols with most of their tokens already in circulation have caught a bid. While this may be partially due to the inflow of institutional interest this cycle, there's value in keeping a close eye on tokens with solid fundamentals, whether they be revenue-generating, have most of their tokens unlocked, or, ideally, have both of those properties.
This article will do just that, mapping out protocols and their tokens in all three categories to identify which may attract fundamentals-focused investors.
This list of 23 tokens is far from exhaustive, but we think there's still plenty of value below 👇
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