PANews reported on November 12th that, according to Alpha Updates, data shows a significant discrepancy between the valuations and transaction fee revenues of decentralized exchanges (DEXs): Uniswap generated $104.2 million in fees over the past year, with a FDV of approximately $8.5 billion; PancakeSwap generated $51.6 million in fees, with an FDV of approximately $900 million; Jupiter generated $95.2 million in fees, with an FDV of approximately $2.4 billion; and Raydium generated $79.6 million in fees, with an FDV of approximately $880 million. However, Meteora, within the Solana ecosystem, generated a staggering $136 million in fees but only achieved an FDV of $521 million, far lower than similar projects, suggesting its valuation may be significantly underestimated.