Since Rai is comparable to IOTA in tech, I don't see why the investors who put a 12B market cap on IOTA wouldn't see Rai as being undervalued sitting at 3B.

At best Rai surpasses IOTA. At worst Rai matches IOTA market cap, but who thinks it should be sitting at 3B when IOTA's at 12B?!

It doesn't make sense. This is an undervalued asset as long as market exposure is there. Binance is a start.