Given its supply, what would be a realistic valuation for a project like this? I wouldn't price it past 50 dollars but from what I understand, a huge portion of the coins are locked up which gives it relative scarcity. I'd love someone who's more knowledgeable about the project to weigh in
It must be less than 50 dollars. Dfinity has lots of supply that was not yet sending to the market. Remember that there will be more tokens to be unlocked from the airdrop and this will be affecting the price as the airdrop participants will be dumping their money to the market instantly. Did you remember about the seed sale participants? they are also having lots of dfinity.
You must see how much the locked tokens that will be opened before try to buy more ICP.