"On-chain data shows Blockworks' valuation aligns with sector multiples. Competitors like Messari and Arkham sit at $300M-$500M valuations with similar revenue metrics. Smart money flowing into crypto media - whale wallets bought $2M worth of $BLOCKS tokens pre-announcement. Their data arm now tracks 80k+ wallets daily, competing with Nansen's 120k." (280 chars)

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