Token utility in a strong ecosystem results in more demand for a rapidly decreasing supply of the token leading to increase in token value over time.
Looking at BGB, has the ecosystem done well to support this trend?
I think this is where the token is created like for example there is a token under ETH and then there is also under Solana, and the list goes on... Choosing a strong ecosystem can indeed contribute. For some, they can also go with a trendy ecosystem over the other. It works like a charm too. I still think ecosystem won't really matter but what important is the usability of the project.
2 key words there (investors and devs). Investors are driven by utility created by innovative devs who strive to evolve the cosystem to meet the contemporary demands of users.
That should how a crypto project work, although before, that it is already how most things are working but unfortunately later on, there are now lots of copy-cats, low-quality, and fake projects. What is only surprising is that all of them can still be successful due to hype and massive marketing or manipulations.
Yeah you are right about hype and marketing but if onchain data does not corroborate with the price movement, there are high possibilities of a massive dump in price later on.