Fuel and Bubblemaps, valued at $1 billion by VCs, currently have market capitalizations of only $11 million and $6 million, respectively.

According to CryptoRank's chart comparing VC valuations with current market capitalizations, the market capitalizations of most projects have shrunk significantly compared to their venture capital valuations, reflecting a correction of overvalued valuations following a shift in market sentiment. Data shows that Humanity Protocol, Fuel Network, and Bubblemaps all had VC valuations of $1 billion, but their current market capitalizations are only $285 million, $11 million, and $6 million, respectively. The market capitalizations of Plasma, ICNT, DoubleZero, Camp Network, and Treehouse are also far lower than their VC valuations, at $224 million, $247 million, $373,000, $15 million, and $16 million, respectively.