Valuation Frameworks: Revenue Multiples, Comparables, DCF

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Once you understand FDV and market cap (previous lesson) as the denominators of valuation, the harder question is: what should the price actually be? This lesson covers the three frameworks practitioners actually use to answer that, each borrowed and adapted from traditional finance. 1. Revenue multiples. The simplest and most widely used crypto valuation shortcut: take the protocol's annualized revenue……

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