Founder of DeFiance Capital: The market will favor crypto projects with product-market fit and resilience proven across multiple cycles

ChainCatcher news, DeFiance Capital founder and CEO Arthur Cheong posted on X that the market may shift to favor crypto projects that have demonstrated their product-market fit (PMF) and resilience across multiple market cycles.

These projects may be re-rated to a higher market capitalization, while those with low circulation and high market cap (FDV), which have been continuously hyped, will see little effect.

Some of these companies are undervalued and have even become more dominant over the past few years. Ultimately, their price-to-earnings ratio will no longer be below 20 times.