An article just came out on Medium sent to me by the Token Economy newsletter. The article is here: https://medium.com/@cburniske/cryptoasset-valuations-ac83479ffca7. Their methodology is similar, saying that the market cap of the currency is equal to the value of goods/services able to be purchased within the network / VELOCITY. Token velocity is the missing piece to my valuation strategy, and makes sense. It is great to read a discussion on the concept of velocity.