There are, however, plenty of real projects backed by real money with real employees, open books, and have proven resilient over these handful of years. If the economy gets pumped full of fakeass USD causing stonks and crypto to triple up, I'm not going to be one to say "Yeah that value is so real". My fave stonk Square (SQ) (I refuse to call it block), has net me several boatloads of money since day 1, and now it's dropped to only a couple boatloads. Does that mean it's now bullshit? No. It means the economy has a mind of its own and let's not pretend it makes much sense. It's more powered by emotion and guessing than actual worth.
Citation needed, especially considering what’s been going on with BNB
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.
K that's the topic of this conversation.