💡 $ETH
Reality check of crypto – In crypto, TVL often steals the spotlight, but it doesn’t always tell the whole story. Billions flow into chains via incentives, yield farming rewards, or liquidity rotations, but this does not represent actual usage. Analysts are now tracking revenue efficiency relative to TVL to see which networks generate real fees. Hyperliquid is leading with 4.71%, Injective 2.46%, Solana 1.7%, while Ethereum and Aptos are lagging behind. TVL shows parked capital; revenues show actual demand. Which chain will dominate when efficiency matters more than hype?