Perceived value. It worths what people are willing to pay for. A lot of things work that way. Skeptics might wonder how long it would last, but less about how much it should be worth. People aren't only buying tech.
We do have a lot of scammers and useless coins, but tech is only one indicator of value, not the ultimate method to predict perceived value.
We do have a lot of scammers and useless coins, but tech is only one indicator of value, not the ultimate method to predict perceived value.