DeFi researcher Ignas stated that fewer than 20 crypto projects currently generate daily revenue of $50,000 or more for token holders. After accounting for valuations, token unlocks, and revenue sustainability, the pool of viable long-term investment options shrinks further as many tokens suffer from unfavorable market cap to fully diluted valuation ratios. Most crypto assets remain driven by narratives and market sentiment rather than fundamental cash flows, with investors betting that demand growth will outpace supply inflation from token unlocks. Ignas noted that recent DAO disbandments highlight insufficient decentralized accountability mechanisms, though this trend may concentrate capital toward proven revenue-generating projects. He expressed anticipation for new token generation events from revenue-positive protocols, citing VAR as an example and calling for Polymarket to adopt a TGE model.