rhea finance trades at $5m market cap. zcash trades at $11b. that's a 2,200x valuation gap between the l1 and its only native defi protocol. rhea has 139 users and $12m in deposits after launching into peak zec euphoria. near's cofounder predicted $100m market cap. the market says otherwise. privacy defi is either the most overlooked trade in crypto or a complete dead end. at $5m you're betting on the former with 95% downside already priced in.
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