Unpacking $FLUID’s Potential as a DeFi Powerhouse

On March 23, 2025, Emperor Osmo shared a compelling thread on X, spotlighting $FLUID as one of the most undervalued tokens in the decentralized finance (DeFi) space. The post claims $FLUID could be an "easy 10x" investment, backed by five data-driven charts. Let’s dive into the thread and explore why $FLUID is generating buzz in the DeFi community.

Explosive Fee Growth Signals Strong Fundamentals

The first chart highlights $FLUID’s impressive fee growth: a staggering 21,202% increase over the past year, 155% in the last 90 days, and 21% in the last 30 days. Despite this, the token’s price has dropped by 25% and 47% over the past 30 and 90 days, respectively. This disconnect between revenue growth and price suggests $FLUID might be undervalued, as its fundamentals are outpacing market sentiment. For context, fees in DeFi protocols often reflect usage—higher fees typically mean more transactions and activity on the platform.

Dominating Key Trading Pairs

$FLUID has made waves in the DeFi space by surpassing Uniswap, a leading decentralized exchange (DEX), in USDC-ETH trading volume within just four months of launching. With a market cap of $197.5M, $FLUID’s ability to compete with established players like Uniswap and Curve is notable. A chart shared in the thread shows $FLUID capturing significant volume in this trading pair, a key metric for DEX platforms. This rapid rise indicates strong user adoption and positions $FLUID as a serious contender in the DeFi ecosystem.

High Trading Volume Across Chains

Another chart from DefiLlama ranks $FLUID fifth in trading volume across all blockchain ecosystems, despite being live on only two chains. For comparison, top platforms like PancakeSwap and Uniswap operate across multiple chains, yet $FLUID is already nipping at their heels with $1.73B in 24-hour volume. This suggests $FLUID has room to grow as it expands to more ecosystems, potentially boosting its market share and token value.

A No-Compete Strategy Fuels Volume Growth

$FLUID’s strategy of integrating with aggregators—tools that route trades through multiple platforms to find the best prices—has helped it capture more trading volume. A chart comparing $FLUID’s volume on Ethereum to competitors like Uniswap and Curve shows it leading with a 31.2% share as of March 21, 2025. This "no-compete" approach allows $FLUID to facilitate more trades, which in turn generates higher fees. In DeFi, fees are often redistributed to token holders or used for buybacks, directly benefiting investors.

Lending Arm Shows Strong Growth

Beyond trading, $FLUID’s lending arm is gaining traction. A chart from Token Terminal reveals that $FLUID has seen $658.65M in active loans, a 13.4% increase, making it the second-largest lending protocol behind Euler. Over the past year, its lending volume grew by $580M, yet it only holds 4% of the total lending market. This growth, paired with its relatively small market share, suggests $FLUID has significant potential to capture more of the lending space, which is a core pillar of DeFi alongside trading.

Smart Money Is Taking Notice

The final chart, sourced from Nansen, shows $FLUID as the second most-added token by "smart money" investors over the past 24 hours. In the crypto world, "smart money" refers to experienced investors or whales whose moves often signal confidence in a project. This interest, combined with $FLUID’s strong fundamentals, could create a "flywheel effect"—where increased attention drives price action, similar to what was seen with tokens like $HYPE.

Why $FLUID Could Be a 10x Opportunity

Emperor Osmo wraps up the thread by emphasizing $FLUID’s utility and market fit. As a DEX, lending, and vault platform, $FLUID offers multiple revenue streams, making it a versatile player in DeFi. The token also benefits from a buyback mechanism triggered at $10M in annualized revenue, which could further fuel price growth. With Messari projecting $FLUID to reach 10% of the stablecoin and ETH borrowing market by Q4 2027, valuing it at $700M, the potential for a 10x return seems plausible if these trends continue.

Community Reactions and Risks

The thread sparked discussion, with The Advisor.btc noting that while $FLUID is impressive, the DeFi space is highly competitive. Uniswap, once a "consensus winner," has been overtaken by $FLUID, but new, more efficient protocols could emerge in the future. This highlights a key risk: DeFi evolves rapidly, and $FLUID will need to maintain its edge to sustain its growth.

Final Thoughts

$FLUID’s combination of strong fundamentals, strategic growth, and increasing attention from savvy investors makes it a DeFi token to watch in 2025. While risks remain in the fast-moving DeFi landscape, the data presented in this thread suggests $FLUID could indeed be undervalued with significant upside potential. If you’re interested in DeFi investments, $FLUID might be worth a closer look—especially as utility tokens often outperform during market reversals.