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 

Ether's distribution is its biggest weakness, because proof-of-stake enshrines the Cantillon effect and poorly distributed moneys always fail. Proof-of-work spreads supply through forced selling by miners, who have real costs. Ethereum's long proof-of-work history does make its distribution unusual among chains that started as proof-of-stake, and @lex_node raises fair points, but distribution would be a major reason if Ethereum fails. x.com  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

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 

ETH's claim to be DeFi's money is weakening as stablecoins become the real unit of account, even on Ethereum. Aave's TVL on Ethereum has shifted from ETH toward stablecoins over the past three years. That undercuts @ryanberckmans's argument that ETH is a store of value accruing value from utility and confidence rather than cash flows. 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's liquidity is falling further behind Bitcoin's. ETH now has just 35–45% of Bitcoin's liquidity, versus at least 60% in 2025, with median ETH liquidity around $13–14M. x.com 

Ethereum feels weak with no clear catalyst, despite an appealing story of institutional adoption for real utility and infrastructure. The crypto craze may have petered out after about 15 years, and bitter memories of losses from counterparty blowups such as Voyager and FTX may never fade. x.com 

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 

ETH should stay stuck for a long time because of the many trapped buyers created by BitMine and Tom Lee. Nearly every use case for it has been tried since 2019, and tokenization is more exciting than ETH itself. x.com