"ETH is the reserve collateral of the most neutral financial settlement network on Earth. The people who own it are accumulating and locking it up at record rates while the price is weak and sentiment is at a multi-year low."

…I'm not saying ETH goes to $250,000 like Tom Lee's been quoted as saying. That's Tom Lee's number. It's definitely not mine. The scarcity argument that underpins it is broken. Staking yield is mostly new issuance, not fee income, which means that productive money thesis is closer to dilution than to dividends. What I'm saying is this. ETH is the reserve collateral of the most neutral financial settlement network on Earth. The people who own it are accumulating and locking it up at record rates while the price is weak and sentiment is at a multi-year low. The institutions building the next financial system are choosing Ethereum's ecosystem even when they don't emit it publicly. The development velocity is compounding a technical mode that really no competitor is close to matching. Now maybe near would be one of the closer competitors much smaller market cap and they're doing a lot of similar thing…