Question that I'm sure has been asked a million times, but I've not really seen an answer that satisfies me: What's the fundamental value of Crypto? It's util

Question that I'm sure has been asked a million times, but I've not really seen an answer that satisfies me: What's the fundamental value of Crypto? It's utility? If so, I'm sure there's a calculation you could make that compares the number of "useful" legal transactions (economic activity) vs. the market cap. I'm assuming the numbers are probably ridiculous, however; the equivalent of 1,000s of dollars of "value" per real transaction. My assumption is that the bulk of Crypto's actual value is its ability to hide flows of money from regulators (tax avoidance, drug money, silk road transactions, etc). KYC rules probably have helped in this regard, although I'd be interested in someone in the know having an opinion. Do we have estimates for what % of crypto transactions are not provably legit?