Opinion: The market cap/TVL ratio of Ethereum tokens is significantly inverted, far exceeding those of Solana, Tron, BSC, and other ecosystems

According to Odaily, crypto KOL rip.eth posted on X stating that, based on the gap between total value locked (TVL) and market capitalization, Ethereum is currently the most undervalued blockchain. Ethereum holds 59% of the crypto market’s TVL, but its token ETH only accounts for 14% of the total cryptocurrency market capitalization. In comparison, Solana’s token market cap/TVL ratio is 3%/7%; Tron’s token market cap/TVL ratio is 1%/3.7%; and BNB Chain’s market cap/TVL ratio is 4.5%/5.5%.