Solana publicly challenged Starknet's valuation, highlighting discrepancies between reported trading volume and real economic activity on blockchain networks. Analysis reveals that much of some networks’ perpetual futures volume is incentivized or 'mercenary' trading, which artificially inflates valuations without commensurate fee revenue. Comparative metrics like Real Economic Value (REV) and volume concentration expose which blockchains exhibit sustainable user demand versus those relying heavily on reward-driven activity.