crypto market is shifting from narrative to fundamentals. traditional equities trade on p/e. in crypto, the closest analogue is fdv/fees - protocol fees, network usage, actual cash flow. here’s a quick table I put together on top stocks vs crypto assets. AAPL ~37x NVDA ~45x TSLA ~294x ETH ~120x SOL ~58x HYPE ~29x UNI ~25x as more traditional traders enter crypto, assets won’t be priced on belief alone anymore. this isn’t just a valuation shift - it’s a design shift: > from narratives to value capture > from vibe yield farming to risk-priced yield > from pure points speculation to curated allocation the question is no longer "stocks vs crypto." it’s which assets can consistently convert usage into durable value for holders.