pure defi metrics are a legacy way to value protocolsjupiter proves it:• $1.2B validator stake + 762k physical units sold• from crypto exchanges to 7-eleven shelves• portfolio product 100% growth 3 months straightprotocols winning in 2025 are building hybrid revenue streams, not just farming tvl ...

My internal investment thesis for this crypto cycle has settled on the following (subject to change of course - winners adapt):- BTC/ETH are going to continue receiving large institutional allo. If you have a decent port size, this is likely where you should be primarily parked- Stables remain fascinating to *everyone* and DeFi yield farming is extremely viable for quite a while into the future. If you made substantial money during the meme cycle, you likely have realize this is how to preserve and grow you ...