Grayscale sees CLARITY Act as catalyst for undervalued crypto protocols

Grayscale has highlighted the potential passage of the U.S. CLARITY Act as a key variable that could lead to a re-evaluation of currently undervalued cryptocurrency protocols. According to Zach Pandl, Grayscale's Head of Research, many revenue-generating blockchains are trading at attractive prices relative to their fundamentals. He noted that these protocols appear even more undervalued when considering profit and cash flow, due to their low operating costs. Pandl added that most of the top revenue-generating protocols are centered on financial services, including essential support services like oracles and staking infrastructure. He suggested that the CLARITY Act could enhance regulatory clarity for crypto and stimulate on-chain transactions. Grayscale also reported that based on protocol revenue over the last 12 months, Hyperliquid (HYPE) recorded the highest at $871 million, followed by Pump.fun (PUMP) with $459 million.