Steem is in a unique position where it is quite easy to see tangible utility and adoption due to the Steemit platform. A lot of cryptocurrencies can only use trading volume as their measuring stick for adoption and utility. The problem with this is that you are unable to separate speculators/short term traders from true adopters. Steemit on the other hand being a content platform allows for easy analysis of Steem as it can be analysed on the basis of platform growth.

If you believe Steemit will continue to grow, then you can assume the value of Steem will also grow.