DCinvestor
Ethereum Investor & NFT Art Collector
Ethereum's layer-2 networks are insanely bullish long term because they give every major institution a substrate to build on while reinforcing the use of ETH. There is no good reason to build a modular chain anywhere else, and today's very low fees to do so, without running your own consensus, are a feature, not a bug. Expect many more L2s in the next few years. The L2 roadmap did pull focus from L1 scaling, which is still needed, but zk proving will get there. x.com x.com
Ethereum has a bull case not seen in several cycles: the 'ETH-killer' alt-L1 argument is now mostly moot. Most of this cycle's new token darlings are niche apps, not L1s with a path to high-value global settlement or broad use, though a few other L1s will likely matter long term. Meanwhile Ethereum is scaling rapidly, with renewed R&D energy now that Ethereum Foundation obstructionism is mostly gone and many strong Ethereum organizations are focused on helping it win. x.com
Ethereum's upside looks worth the bet because the payoff to its prior high is much larger than the downside, and buyers still respond to good news. There is roughly 16% down to $1,950 versus a little over 2x back to the prior all-time high. LIT caught a sharp bid around its US regulatory plans, and CHIP rallied 40% around a $1 million buyback; that response looks like a bull-market sign. x.com
ETH is undervalued because collateral and staking create demand L1 fees miss. Aave V3 has 2.2M WETH supplied and 1.75M borrowed on Ethereum. Yet Base reportedly paid Ethereum ~$15K for September data publishing versus $711K to the Optimism Collective, showing weak L1 capture. Absolute stablecoin growth matters more than share, but is not itself ETH demand. The case strengthens when activity creates sustained demand to hold, borrow against or stake ETH, or raises fee burn relative to issuance. … Show more
Layer-2 networks are Ethereum's competitors disguised as allies, slowly draining it in a vampire attack. They take the users, keep the fees and lobby the base layer to stay small, returning almost nothing; the small fraction of fees sent back to ETH only confuses the narrative. L2s will either migrate or become their own L1s, and either way ETH is left holding the bag. x.com x.com
Ethereum is where institutions and smart capital keep their value in DeFi. Its TVL is nearly double the roughly $23 billion combined on BNB Chain, Solana, Tron, Base and Bitcoin, because its collateral is deepest, apps are battle-tested, stablecoin rails are strongest and large capital can move securely. Fundstrat and BitMine could be among the biggest winners in the second half of the decade. x.com
Ethereum's offchain execution and onchain proof verification make its scaling path for the tokenization supercycle very bullish. Correcting an earlier description, high-throughput execution happens offchain, while ZK proofs and transaction-state commitments are posted onchain for verification. Vitalik proposes client-side STARK proofs and EIP-8288 aggregation to keep heavy cryptographic computation and data out of scarce block space. x.com x.com
Ethereum's strong ecosystem is not translating into enough ETH value capture to support significant appreciation unless that changes. The Ethereum Foundation selling ETH again is frustrating; buybacks and stronger incentives for L2s to accumulate and buy back ETH could improve the token's economics. Fundstrat, which owns roughly 5% of the supply, has a huge opportunity to push for better value capture. x.com x.com
Low fees on Ethereum's base layer are the cost of growth, and growth is what ETH holders should want now. A huge flow of money and activity already runs through Ethereum's neutral settlement layer, often unseen by users, and it can be monetized whenever the community chooses. Robinhood chose Ethereum not for its fees but for settlement it could trust, and paying only marginal cost is temporary. @ethereumJoseph expects tens of thousands of companies to build on Ethereum over the next 2-3 years. … Show more
Ethereum is always cheap in an exponentially growing DeFi industry because it is the backbone of $50 trillion of stablecoin transactions, a real business. It has 20,000 developers and a better programming environment than any other layer 1, while Bitcoin is valuable mainly for being the first and the biggest. x.com
Ethereum faces slightly higher near-term selling risk as net inflows raise Binance's sellable ETH supply. Some 55,471 ETH entered and 47,596 left, net 7,875, though both flows have slowed. If inflows persist this week with ETF outflows and high US Treasury yields, pressure could grow around the Fed decision. Rising cumulative ETH 2.0 transactions bode well for network use, not direct demand or relief today. Losing $2,280-2,300 adds downside risk; recovery needs flow and price confirmation. x.com
Ether becomes more reliable as a store of value with every day of uptime, every successful upgrade, every narrative concern derisked, every new organization that integrates and every new user onboarded. x.com
