The Watchlist
Sushi trades at a 4.1x revenue multiple with 93.7% of supply circulating. Monthly revenue growth of 21% suggests a base may be forming. A patient starter position candidate.
The Watchlist
Usual's trailing P/S of 1.39 looks cheap, but 36.6% of supply is unissued and revenue is down 0.3x from peak. A 45% 30-day revenue rebound offers hope, but confirmation is needed.
The Watchlist
Quickswap, a DEX that survived the 2022 bear, trades below 1x trailing revenue with a live buyback. A fundamentals-first play on a veteran protocol, but diluted P/S and founder focus warrant caution.
The Watchlist
Securitize is a regulated financial infrastructure company issuing a token, not a typical crypto project. With a tiny market cap, real revenue, and a structural moat as NYSE's transfer agent, it's a bet on tokenised capital markets—but diluted multiples and unlock overhang demand caution.
The Watchlist
Warden is a live agentic wallet with named integrations like Uniswap and Messari, at a $3.2M FDV. If agentic commerce grows, the wallet layer agents default to captures disproportionate value.
The Watchlist
OpenGradient is a live verifiable AI inference network on Base, processing 2M+ inferences with zkML proofs. At a $17.3M market cap, it offers a conviction-per-dollar case for auditable agent compute, though token dilution and competition loom.
The Watchlist
Mind Network provides confidential A2A payments and FHE-based verification, with live deployments at BytePlus and Alibaba Cloud. At a $5.97M market cap, the gap between product maturity and price is striking, but a 92% drawdown demands caution.
The Watchlist
ElizaOS is an open-source agent framework with named production deployments and institutional research partners, yet trades near its floor. The asymmetry is real, but so are the risks.
The Watchlist
The Watchlist
The Watchlist
The Watchlist