I like your math where you look at the market cap of the market they're trying to replace or supplement.

I want to say that you should also check out a few good websites that are known for doing solid reviews, Hacked.com is one (although you gotta pay 39 bucks a month for full access) that has Ben refining they're scoring models for a while now and have made me plenty of money.

Coincheckup is another good site and they measure all the metrics.

Lastly but not least make sure the white paper is not copy pasta. Red flag right there! I lost over a thousand US Dollars on Droplex, because I bought into the hype and didn't even check their white paper. If I had done some digging I would have found out pretty quick they are a scam.

Overall good article. It's important to have an idea of the potential Market valuation before you go in thinking you'll have unrealistic gains!

Cheers!
CryptoTrucker