What are the driving factors for crytpocurrency valuation?
Scarcity? Utility? Use? Demand? Network? or am I off base already?
You are not off base all of those things are very important, but what happens with cryptocurrencies is that probably hype can be more important than all of those factors, if the marketing team of a coin is able to create great enthusiasm in the forum about their project there is almost no limit to the price the coin can reach but if there is not such hype the growth of the coin will be a lot slower.