Looking at TVL/MC of the top 4 L1's (by TVL), it is clear that LUNA is severely undervalued. Assuming the market values 1$ the same on each chain, LUNA would have to appreciate 73% to reach a "fair value". 
P.S
There are many reasons why the market might discount $1 of TVL on $LUNA compared to ETH/SOL. Could be due to lack of utility (Col-5 should solve) or could be a myriad of other reasons so take this with a grain of salt. This just assumes 1$ TVL is = valued across all chains
There are many reasons why the market might discount $1 of TVL on $LUNA compared to ETH/SOL. Could be due to lack of utility (Col-5 should solve) or could be a myriad of other reasons so take this with a grain of salt. This just assumes 1$ TVL is = valued across all chains
Although definitely not the best assumption to make. I do think $LUNA provides fundamentally one of the most attractive value props for a layer 1 token. Because of the $UST burn/mint mechanism. I would put my money on market undervaluing $LUNA TVL. NFA DYOR
When looking at $UST supply change vs $LUNA supply change the value prop is pretty obvious. Thesis is also Algo stables will 📈 as % of stablecoin MC. $UST biggest algo stable.
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