$KERNEL Price Potential: Benchmarking Against $ETHFI and $REZ Let’s estimate $KERNEL’s fully diluted valuation (FDV) and price per token by comparing it to $ETHFI (Ether.fi) and $REZ (Renzo), using their TVL-to-FDV ratios. With a $2B+ TVL and 1B token supply, here’s the breakdown. Step 1: TVL-to-FDV Ratios - $ETHFI: TVL $5B, FDV $687.8M, Ratio 7.27 - $REZ: TVL $783.7M, FDV $187.7M, Ratio 4.18 - $KERNEL: TVL $2B, FDV TBD, Supply 1B tokens Step 2: Estimating $KERNEL’s FDV Using $2B TVL: - Low-End (7.27): FDV ≈ $275.1M - High-End (4.18): FDV ≈ $478.5M - Midpoint (5.725): FDV ≈ $349.3M FDV range: $275M–$478M, likely ~$349M. Step 3: Price Scenarios - Conservative ($300M FDV): $0.30 - Realistic ($400M–$450M FDV): $0.40–$0.45 - Optimistic ($600M FDV): $0.60 Conclusion: FDV Range: $300M–$600M Price Range: $0.30–$0.60 Best Guess: $400M–$450M ($0.40–$0.45), balancing TVL, cross-chain potential, and trends. A TGE in April 2025 could position $KERNEL as a restaking contender.
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