A simple comparison of the top 10 on-chain applications by revenue on $SOL will explain why $Cards is undervalued.
$Pump's 30-day revenue is $38 million, while $Cards' revenue is $3 million, a difference of 12.6 times. Their circulating market capitalization differs by 90 times, and their FDV by 27 times.
$JUP's 30-day revenue is $9.6 million, while $Cards' revenue is $3 million, a difference of 3.2 times. Their circulating market capitalization differs by 46.2 times, and their FDV by 15 times.
Conclusion: If revenue and market capitalization were directly proportional, then based on the comparison between Pump and Cards, $Cards' circulating market capitalization has 7.1 times the upside potential, and its FDV has 2.1 times the upside potential.
Compared to $JUP, its circulating market capitalization has 14.4 times the upside potential, and its FDV has 5 times the upside potential. 👀
This is a comparison based on revenue. In reality, the smaller the market capitalization, the easier it is to manipulate the price. Furthermore, $Cards has plans for share buybacks.