Depends if you view them as stocks or currencies, no? If it’s stocks then market cap is normal. Anyhow, if it was a giant Ponzi scheme then what about the proje

Depends if you view them as stocks or currencies, no? If it’s stocks then market cap is normal. Anyhow, if it was a giant Ponzi scheme then what about the projects ran by JP Morgan/Visa/Deloitte/etc? I have no doubt some projects are scams, but there are also non-ponzi projects and I don’t agree with painting them all with the same brush.