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>There's no underlying value. It's a 24/7 nothingburger outlet. That's not really true. It may not be everyone's cup of tea, and speculation may be driving most of price, but these are real tech products. Ethereum, Cardano, Avalanche, Solana are decentralized computing platforms, with utility. Uniswap, Aave are exchange platforms, that allow people to swap currency real time. They may not be VMWare, Rackspace, JPMorgan Western Union or Moneygram, but they are real companies, with real products, that offer real services. As of 2021, Allianz, Deutsche Telekom, Intel and Cisco are four stocks where investors that bought at the Dotcom Bubble peak never broke even. Maybe Ethereum, Cardano, Avalanche, Solana are far above their actual potential value, but it doesnt mean they are worth 0. https://www.coingecko.com/en/categories/smart-contract-platf...
https://www.coingecko.com/en/categories/decentralized-financ... |
That is still speculation and most of the existing financial system can do payments (the supposed original use case) already.
Take a look at UPI, Pix, etc. A safer, faster and better future of payments is already being built and used to the tune of hundreds of millions of real people. And it is not a complete pyramid scheme.
That cannot be said for crypto, nobody is using it for anything other than speculation, crime and ransomware.