Foreign media: Encrypted investor Lark Davis, in an opinion article, lists Cardano, Polkadot, Etheum Classic and Arbitrum as high-valued stairwells. His core judgement is that, while these projects still have a high market value, the chain activity, the size of the locks and the income performance are not sufficient to support existing pricing.

Cardano lives and earns less.

Davis put Cardano first on the list. He mentioned that the value of the chain was still at about $6 billion, with about 30,000 transactions and 10,000 live daily addresses and some $2,000 applied daily income.

Token Terminal data are quoted as indicating that the cumulative cost income of Cardano is approximately $1.9 million, which is significantly behind Solana and Tron. Weekly income for the latter two exceeds $603 million and $581 million, respectively. Davis therefore questioned why ADA could maintain a higher valuation while the network was still under-used.

Polkadot has been questioned about insufficient demand for tokens.

In Polkadot, Davis believes that the problem is not primarily technical, but rather for token use. He claims that Polkadot ' s main chain day-to-day users were approximately 2400 people, and TVL was about $40 million, which was low compared to a number of competing Layer 1 and Layer 2 projects.

He states that governance, pledge and corpime sales did not bring sufficient real demand to DOT, and therefore there was a gap between the valuation of tokens and the performance of the network.

ETC and ARB are also listed.

Davis also criticizes Etheleum Classic for approaching the "empty city" state. According to the text, the value of this chain is still more than $1.11 billion, with approximately 1,300 daily live addresses and about $150,000 for TVL and about $72,000 for the value of the chain.

In the case of Arbitrum, he acknowledged that the bottom-up technology was strong and had a monthly income of approximately 2.2 million live users and close to $570,000. However, in his view, ARB, as a governance token, has limited access to the revenues of the agreement and the holders of the currency have not directly shared in the income generated by Offchain Labs.

At the same time, the article mentions that all four of the above-mentioned tokens have experienced a significant fall in prices: ADA is about $ 0.162, DOT is about $0.838, ETC is about $6.97 and ARB is about $0.0866.

Additional information:It is also mentioned that proponents believe that project valuation does not depend solely on the current level of activity and that technology reserves, space for future expansion and market expectations will affect pricing.