Been looking at some depin projects lately and it's wild how disconnected the token prices are from what these networks are actually generating. Like, most depin tokens have tanked 94-99% from their peaks, right? But apparently the underlying protocols pulled in around 72 million in on-chain revenue last year. That's real money flowing through the system. The whole depin market is supposedly valued around 10 billion now, which honestly seems low if you look at the actual usage metrics. It's one of those situations where the market seems to be pricing in doom while the fundamentals are quietly doing their thing. Worth keeping an eye on whether this gap eventually closes or if depin projects need to figure out better tokenomics.