2026-01-07 15:39:19

A certain mainstream trading platform extracts approximately $6.35 million daily, originating from 40,000 token launch projects, of which 97% of traders ultimately incur losses. The platform's revenue reaches $610 million in 2025, with an expected surge to $2.3 billion in 2026. Its current valuation is around $1.25 billion, based on a revenue multiple of 2.4x.

In comparison, another well-known platform achieved $1.25 billion in revenue last year, but the market assigned a valuation multiple as high as 9x. With the same Web3 infrastructure, why do the two differ so greatly? Essentially, the market is voting with its feet — valuing not who grows faster, but whose business model is more stable and reliable. The high loss rate of trading platforms, while startling, actually reflects the primitive nature of the market; meanwhile, platforms that offer more value layers naturally command higher market premiums.

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GasGrillMaster

· 01-08 18:15

97% loss... This is the true portrayal of the crypto world, with new retail investors coming in wave after wave.

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UnruggableChad

· 01-07 16:05

97% loss rate, this is the current state of the crypto world, it's so brutal.

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GrayscaleArbitrageur

· 01-07 16:00

97% Loss Rate... This number is a bit hard to believe, is it true? --- The valuation multiples are so different, indicating that the market still has a good eye; a bad business is just a bad business. --- Why is a platform that cuts leeks every day worth so much money? Laughable. --- That's why I only play on top-tier platforms; small platforms are too risky. --- $6.35 million daily withdrawals, sounds like a lot, but it's actually retail investors' hard-earned money, a bit terrifying. --- A stable business model is indeed valuable; this is the most genuine aspect in the crypto world. --- 40,000 tokens launched, over 90% are probably air coins, hilarious. --- Same infrastructure valued six times differently, this is the premium of brand + trust. --- The losers are all small investors, while the big players are making a killing. --- The market voting with its feet is spot on; it perfectly describes reality.

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LiquidatedThrice

· 01-07 15:54

97% loss, am I part of that 3%? Haha, laughing to death --- The valuation multiples are so different, it's all because of the different fates of the retail investors --- They keep cutting us every day, yet revenue can still reach 2.3 billion. Capital tricks are really clever --- Stable and reliable? Haha, who is it stable and reliable for? --- 40,000 tokens launched projects, how many people must die to support this number? --- It sounds like high premium when said nicely, but when said harshly, it's just the market makers telling better stories --- Having been liquidated three times, I just laugh when I see these numbers. Anyway, we're all working for the platform

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DegenMcsleepless

· 01-07 15:49

97% loss, this is the crypto world haha, we're all working for that 3% lucky ones.

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GasFeeBarbecue

· 01-07 15:43

97% loss rate... Oh my, this data is quite brutal, no wonder the valuation has been hammered down like this.

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