Why is Graph at 1.5b? (Hint: not technicals)

The value of anything exists in the heads of the minds of involved the market. Most don’t know enough to evaluate tokens on technicals.

So people use emotion (memecoins), and proxies for legitimacy.

For Graph, assuming no puppet masters, the price is because people perceive a quality token.

https://medium.com/coinmonks/why-is-the-graph-a-genuine-web3-blue-chip-protocol-c9cc8bae5488

It explains why Celestia mooned before any usage.

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Optimizing on this dimension is dangerous, granted. My hypothesis would be people’s perception is more important than token design wrt price.

Working on building zkTLS infra/products. A ruthless empiricist and meme connoisseur.

http://opacity.network

Market perception and emotions drive token value more than technical analysis. Graph's perceived quality leads to its $1.5b valuation