According to CoinMeta, Bitwise's Chief Investment Officer Matt Hougan stated that there are two misconceptions when evaluating DeFi applications: firstly, the $2 trillion cryptocurrency market is mistakenly regarded as the target market, when in fact the target is a $500 trillion asset market; secondly, the value capture capability of transaction fee revenues is underestimated. He pointed out that projects such as Hyperliquid, Uniswap, AAVE, Morpho, Aerodrome, Lighter, and Pump possess larger market scales and stronger pricing power than anticipated.