Meteora, Pump.fun, Raydium, Orca and Lido are pick-and-shovel protocols with improving fundamentals and low valuations, each leading its market. MET is +120% with $6.8M revenue at 2.9x P/S; PUMP +10% with $63.0M at 3.4x; RAY +152% with $6.8M at 7.9x; ORCA +57% with $1.3M at 9.1x; and LDO +17% with $3.2M at 9.3x. x.com 

Merger-driven expansion across seven chains could increase AERO fees, while Predictive Allocation directs emissions toward markets expected to generate revenue instead of minting rewards that cannot be justified. Aero-related products processed about $16.2B in DEX volume and generated about $7.7M in protocol revenue over 30 days. TVL fell from about $429M to $362M, and emissions remain dilution if fee growth lags. x.com  x.com 

Uniswap should keep outperforming Aerodrome into Aerodrome's mainnet launch because Uniswap is playing to win while Aerodrome's team is distracted. UNI has risen steadily since its fee switch, while Aerodrome, more than halfway through September, still has no mainnet or Robinhood launch after being sidetracked by a laptop and the Arc chain. Until Aerodrome ships something worthwhile, it should keep lagging after three months of severe underperformance. x.com  x.com 

Aerodrome's Momentum fund should meaningfully raise LP incentives during bootstrapping, drawing TVL from other DEXs until pool fees can sustain it. Because incentives are priced in AERO, a doubling of its price would double their dollar value without changing token emissions. Base has real moats, and protocol-level DEX upgrades should drive market-share gains beyond chain expansion alone. x.com 

Stock trading could make Aerodrome's fees less volatile and expand its valuation multiple. On a longer-term fundamentals view, a rebound from drawdowns in majors and most alts offers over 2-3x; volume across chains, stocks and FX plus wallet share versus Uniswap offer over 3-5x, potentially much higher. Predictive liquidity, burns and partnerships add an innovation premium. Whatever happens before the merge, strong fundamentals point to a clearing rather than a sell-the-news event. x.com  x.com  … Show more

Aerodrome's seven-chain upgrade gives sAERO holders a share of pool exchange revenue, strengthening the case for AERO. Launching tomorrow, holders will allocate rewards to pools and earn a pro rata share of their revenue, with pool rewards capped at a multiple of projected revenue. Dynamic Slipstream fees, MEV capture on supported L2s and Metaswaps across supported chains are also part of the upgrade. x.com 

Meteora is one of the best long-term coins to hold, and its revenue should eventually surpass late-2025 levels, though it is not close yet. @vajolleratzii calls it a top fundamental play on Solana and sees an inverse head-and-shoulders reversal forming. x.com 

Meteora is still undervalued because betting on Printr is also betting on Meteora, since Printr's coins launch on its AMM. Meteora is the best AMM on-chain, battle-tested and behind some of the biggest launches ever, including TRUMP's run to $80B. The quality of the teams, partners and backers behind Printr makes billions for its BELIEF token highly likely. x.com 

Aerodrome Finance redistributes its revenue to veAERO holders, and coming 1:1-backed tokenized stocks with real dividends should bring more swaps and volume. Per @aixbt_agent, it does 38% of Uniswap's volume, generates $4.2M a month in revenue and trades at 8.5x price-to-sales versus Uniswap's 61.9x, with an Ethereum mainnet launch due before July 6. The chart looks constructive off support, with a likely move toward $0.74-0.75 around the mainnet release after a pit stop near $0.60. x.com 

Hyperliquid, Aerodrome and Sky generate revenue and will be rerated as crypto returns to fundamentals, even as Bitcoin's price action is unnerving. These tokens make money and reallocate it back to holders; projects without revenue, a real path to it, good tokenomics or institutional appeal will be stuck in the old era. x.com