Ethereum is worth so much more than its 42bn marketcap ?

I don’t understand how it is never mentioned that the Eth blockchain is the backbone of multiple tokens worth billions of dollars all together.

Literally, there is already an ecosystem of tokens existing on top of ETH and using the smart contracts for the ICO part yes, but some of them will keep using the blockchain after the offering ?

Edit : ERC-20 tokens

Submitted December 06, 2017 at 10:32PM }
via reddit