Friday Open Thread: Are DeFi tokens overvalued?

Are DeFi tokens overvalued?

Timestamp this thread. Top 5 DeFi tokens are:

- COMP at $1.7b
- SNX at $460m
- MKR at $439m
- BAL at $400m
- 0x at $392m

Does this look right? Or are we already in a bubble?

They said ETH was a bubble when it hit $20 for the first time. They were dead wrong. And these are protocol shares for a new money system. Maybe they’re massively undervalued?

Market cap of all DeFi tokens is around $5b today.

Is this expensive? Is it cheap? Why do you think so?

Are DeFi tokens overvalued or not?