> Seeing as stonks trade for often >40x the company's actual output, sounds pretty similar, doesn't it? Most coins should be worth a fraction of their traded va

> Seeing as stonks trade for often >40x the company's actual output, sounds pretty similar, doesn't it? Most coins should be worth a fraction of their traded value, and the same with Wall Street. Well for one “40x their output” is meaningless. Ideally stocks are valued at their expected net present value of future dividends; implicitly assuming it’s baked in for growth stocks. Second, I don’t care at all what you think is overvalued. The question was “why was this thing valued without crypto fundamentals?” And the answer is because the market cares very little for those things.