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🚨 XRP EXCHANGE WITHDRAWALS REACH FIVE YEAR HIGHS $AAVE — 2–3x $UNI — 2–4x $LDO — 1.5–3x $PUMP — 1.5–2.5x $AERO — 2–3x $RAY — 2–3x $CAKE — 1.5–2.5x $JUP — 2–3x $ONDO — 2–4x $ETHFI — 2–3x $CRV — 2–3x Trailing twelve-month revenue multiples across the listed DEX, lending and liquid-staking protocols remain clustered between 1x and 9x. That range sits well below prior-cycle peaks near 20–40x and below comparable traditional financial infrastructure valuations. TVL-to-market-cap ratios for several of the names continue to exceed those of peers that generate lower absolute fees, while RWA-linked assets show measurable institutional custody flows and tokenized product AUM growth without commensurate equity re-rating. On-chain fee and volume data for the same set remain elevated relative to circulating market capitalizations. Exchange net flows and protocol-level usage metrics indicate sustained real activity that has not yet been reflected in price. The gap between cash-flow generation and current multiples leaves the group mispriced on a pure fundamental basis. Still adding only on weakness. Position size stays conservative. Desk notes for reference only. Independent verification required. Not investment advice. #XRP #Crypto #DeFi