The Ethereum Investment Framework: Q4-23
Everything you need to know in one document
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The Ethereum Investment Framework provides the most comprehensive data-driven coverage of the Ethereum tech stack available in the market today. There. I said it. Just kidding.
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The Q4 update includes the following:
Updated operating, valuation, and comp metrics for Q4 including commentary (our data starts at network inception in 2015, through Q4-23)
Several new data points we are tracking as it pertains to L2s, onchain activity, DeFi, Real-World Assets, etc.
A new portfolio construction section
A new section on the ETH Stake Rate and CESR thanks to Coindesk Indices
A new section on tokenized real-world assets (Treasuries, Private Credit, Real Estate) thanks to Security Token Advisors
Updates on the road map & tech stack including commentary on Eigen Layer and Data Availability networks such as Celestia (as it pertains to value accrual)
A new market outlook section
A huge thank you to our friends at Token Terminal for providing the data to make the Q4 update possible.
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Disclaimer: Individuals have unique circumstances, goals, and risk tolerances, so you should consult a certified investment professional and/or do your own diligence before making investment decisions. The author is not an investment professional and may hold positions in the assets covered. Certified professionals can provide individualized investment advice tailored to your unique situation. This research report is for general educational purposes only, is not individualized, and as such should not be construed as investment advice. The content contained in the report is derived from both publicly available information as well as proprietary data sources. All information presented and sources are believed to be reliable as of the date first published. Any opinions expressed in the report are based on the information cited herein as of the date of the publication. Although The DeFi Report and the author believe the information presented is substantially accurate in all material respects and does not omit to state material facts necessary to make the statements herein not misleading, all information and materials in the report are provided on an “as is” and “as available” basis, without warranty or condition of any kind either expressed or implied.