IMO, people need to start to think of ALGO as a commodity rather than stock.
Good way to think of
$ALGO is looking at it as oil.
The majority of us think about the oil usage only when we are the pump, yet oil is used to produce so many other things.
DeFi and RWA projects are/will use
$ALGO for tx fees, but most of us are not thinking about even greater usage of
$ALGO = creation/maintenance of wallets, NFTs, ASAs, NFDs and SCc.
And just like oil, there is a finate supply of ALGO.
So my theory (NFA) and why I'm hording
$ALGO is due to the fact that I'm seeing it as an 'lubricant' of the future.
So, with that, what is the total market cap of most commonly used coomodity oil?