Event JSON
{
"id": "ecd17da31f99aa8bfede72fc2f86ec02eda4ed42906540a0f0ccc10a3e8309c3",
"pubkey": "000688f2e657afd509aac582d45455858360046d67802cc5daafb5cb44fbd1ae",
"created_at": 1694287017,
"kind": 30023,
"tags": [
[
"client",
"yakihonne.com"
],
[
"published_at",
"1694287014639"
],
[
"d",
"xWyXPNs4Pz0ujnKlZmPoQ"
],
[
"image",
"https://yakihonne.s3.ap-east-1.amazonaws.com/000688f2e657afd509aac582d45455858360046d67802cc5daafb5cb44fbd1ae/files/1694287014464-YAKIHONNES3.jpg"
],
[
"title",
"What is a Top 25 DEX worth?"
],
[
"summary",
"Looking at the Top 25 DEXs, it looks like the market is yet to discover #24 Xchange and value it appropriately. This could be the opportunity you have been waiting for.\n\n#23 GMX $438 million\n#24 Xchange $10 million\n#25 Trader Joe $126 million"
],
[
"t",
"value investing"
],
[
"t",
"undervalued"
],
[
"t",
"dex"
],
[
"t",
"amm"
],
[
"t",
"crypto"
],
[
"t",
"cryptocurrency"
],
[
"t",
"X7"
],
[
"t",
"X7 Finance"
],
[
"t",
"Xchange"
],
[
"t",
"GMX"
],
[
"t",
"Trader Joe"
]
],
"content": "As you know I have been tracking the progress of Xchange, a new DEX from [X7 Finance ](https://x7.finance/) which is preparing to exit beta and make its official launch. I noticed it's 7 day volume had already placed it in the TOP 25 DEXs ranked by volume:\n\n\nSource: [Dune Dashboard](https://dune.com/hagaetc/dex-metrics)\n\nThe 24 hr volume bounces around a lot, so I think the 7 day volume is a better indicator. \n\nSo you can see Xchange listed their at number 24, just above Trader Joe at 25 and just below GMX at 23.\n\nSo lets compare the market value of these 3\n\n## # 23 GMX\n### Fully Diluted Valuation: $438 Million\n\n\n\n\n## #25 Trader Joe\n### Fully Diluted Valuaton: $126 million\n\n\n\n\n## How much is #24 Xchange worth?\n\nLets see if we can work it out. If #23 is worth $438 million and #25 is worth $126 million, then the value of number #24 must fall somewhere in between those two, correct?\n\nWhat about if we took the average of #23 and #25 which would be:\n\n``($438 million + $126 million)/2 = $282 million ``\n\nSo lets say $280 million. Does that sound like a fair guess to you?\n\n## What value is #24 Xchange actually trading for today? \n\nXchange is part of the larger X7 Finance ecosystem which is made up of 7 tokens. \n\n\n\n### What??? The Fully Diluted Valuation for #24 Xchange is less then $10 million?\n\nThe gap between $10 million and the $280 million we were expecting is huge. To sum up:\n\n#23 GMX $438 million\n#24 Xchange $10 million\n#25 Trader Joe $126 million\n\nYou can do the math yourself to determine if this is a buying opportunity. Do you think others will take advantage of this valuation discrepancy once they learn about Xchange and X7 Finance. Maybe this is one of those cases where the early bird catches the worm.\n\nAnother question you might ask yourself is what secret sauce does Xchange have that has attracted so much volume. It literally came out of nowhere and is now rubbing shoulders with much better know DEXs. Wait till more people learn about that secret sauce.\n\nThis is not investment advice. Do your own research. Consult your finance professional for advice.\n\nMore information\n[X7 Finance Website](https://x7.finance/)\n[Community Website](https://www.x7finance.org/)\n[Telegram Channel](https://t.me/x7m105portal)\n[X (Formerly Twitter)](https://twitter.com/x7_finance)\n[Other Articles](https://yakihonne.com/users/nprofile1qqsqqp5g7tn90t74px4vtqk5232ctqmqq3kk0qpvchd2ldwtgnaartspr3mhxue69uhkummnw3ez6vp39eukz6mfdphkumn99e3k7mgpremhxue69uhkummnw3ez6vpj9ejx7unpveskxar0wfujummjvuq3gamnwvaz7tmjv4kxz7fwv3sk6atn9e5k7yz8062)\n\n",
"sig": "bcb966fe561a65bd16fa2bec48c32d3a3d1cc2cf36b0a2a3ae0ee0a07802852323c724a38645e67d2384828fbbcf66127444900709b6ca2de34c0096098145dc"
}
Source: Dune Dashboard
