Ignas | DeFi Research

Ignas | DeFi Research

Crypto Truths & Lies for the Year 2026

How will crypto perform in a changing world order?

Ignas | DeFi Research's avatar
Ignas | DeFi Research
Jan 16, 2026
∙ Paid

The US stock market is currently in a ‘bubble’ territory, with the valuations seen during the Dot-com peak of 1999.

Image
Source: Gemini. So take the data with grain of salt as i was lazy to double check the data myself

With P/E ratio at x40.5, it’s higher than the x32 before the 1929 crash.

And according to what Warren Buffett called “the best single measure of where valuations stand at any given moment” the ratio of total market cap to GDP now sits at 230%.

It’s 77% higher than the long-term trend. Before the 1929 crash the ratio stood at 130%.

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