DYOR founder Hitesh Malviya predicts that based on on-chain usage data, LayerZero (ZRO) is expected to have a Fair Market Value (FDV) ranging from 5.30 billion to 9.70 billion USD. This valuation is derived from a relative valuation analysis with Axelar Network, considering both are building cross-chain communication infrastructure. Axelar is primarily a B2C platform, while LayerZero focuses more on B2B2C, with its revenue model still unclear. LayerZero's message volume is 11 times that of Axelar, supporting its higher FDV valuation.

Odaily Planet Daily News: Hitesh Malviya (@hmalviya9), the founder of the crypto analysis platform DYOR, stated in a post on X that based on on-chain data analysis, the fair FDV of LayerZero (ZRO) is estimated to be between 5.30 billion and 9.70 billion USD: 
"First, we need to choose Axelar Network for a relative valuation of ZRO. Both are building infrastructure for cross-chain communication. 
Axelar is more like a B2C platform, serving as both a communication platform and an asset transfer infrastructure, earning money by directly charging users AXL. This provides strong value capture for AXL. 
On the other hand, LayerZero is more like B2B2C, managing communication while asset transfers are typically handled by independent bridges like Stargate. In this case, how LayerZero will generate revenue is not yet clear. 
My best guess is that it may involve some models around OFT and protocols built on LayerZero. ZRO may be used as a payment token for protocols built on LayerZero. 
LayerZero also has a validator network called Relayers, so if they plan to further decentralize, they may introduce staking services. 
Currently, GMP is a key metric for Axelar, including messages and asset transfers. It processes about 4,000 GMP per day in the past 30 days, totaling about 120 thousand GMP, with an FDV of 885 million USD. 
Messages are also a key metric for LayerZero. They process 44 thousand messages per day, which is 11 times the traffic of Axelar. Its FDV may also be in the same range, 6-11 times higher than Axelar's FDV. 
Therefore, the estimated figure is around 5.30 billion to 9.70 billion USD.

DYOR founder predicts that the market value of LayerZero may reach 5.30 billion to 9.70 billion US dollars.