Definitive (EDGE)

Hardest Burns in DeFi 👇

% of market cap bought back and destroyed every year

$EDGE → 64.5%
$OVER → 30.0%
$GEOD → 9.7%
$FLIP → 9.7%
$HYPE → 5.1%
$UNI → 3.2%

The whole market prints. These six burn. https://t.co/J2SthPM5TT

EGDE X

Daily chart.
It's typical https://t.co/0WiaBAXGrk

$EDGE is one of those projects that's hard to ignore once you start looking at the numbers.

At roughly $150M market cap, the protocol is generating around $140M annualized fees and roughly $82M annualized revenue, putting it among some of the strongest cash-flow-generating assets in crypto relative to its size.

For a market that spends most of its time chasing narratives, that's not something you see very often.

The problem is that revenue alone doesn't automatically create a great business.

What matters is whether that revenue can actually survive.

That's where I think the investment case becomes much more complicated.

EdgeX has managed to build a profitable onchain perpetual exchange, but the perpetual DEX market is already one of the most competitive sectors in crypto.

Today, traders can choose between #Hyperliquid, #dYdX, #Binance, #Bybit, and dozens of other venues offering similar products.

The real question isn't whether @edgeX_exchange can generate volume during a favorable market environment