Why I believe Ethereum and its tokens are way too overvalued compared to Steem

In times like these with a huge bull market forming, I like to take the time to look at specific values of cryptocurrencies and try to evaluate them depending on use. Now before I get started I want to make sure the readers know that this is just personal opinion and should not be taken as investment advice. I am someone who has lost interest in Bitcoin years ago for the sole reasons that it doesn't do things it promised to be able to in the beginning. Since then I moved on to other project such as Ethereum and I have huge respect for the creator of it. I believe that the token economy around it got spammed too fast and too much in a short amount of time. With the general thought process of investors "holding" this may have caused huge over-estimates of the value of tokens compared to their usage and effectiveness in the real world.

I'm not going to lie and tell you I know what all of these do, it's come to a point where there are just way too many for a normal human to be able to follow them all. I'm sure they all have their specific usage for certain purposes and deserve a certain value, but at this point it's mainly being pushed by speculation alone.

Speculation can be a good thing, but after some time if certain projects barely do anything real or are being used by real people for their designed usage, it's just another blockchain on top of Ethereum doing nothing but being a placeholder for its name while being speculatively traded on exchanges.

To start off, here are some of the biggest ERC20 tokens.