Good time to remember the importance of stock vs flow of $ETH. Current inflation is around 5% yearly, which is shy of 16B a year at current prices.
Most of that ETH is paid to miners that have to pay electricty, pay back equipment, so they generate a high selling pressure.
1/n
The #Ethereum Kiln Merge testnet just successfully completed the Merge and has fully transitioned from PoW to PoS!
So excited to be a part of this momentous occasion!
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ETH valuation will highly depend on this figure. It's not a very stable business, so right now valuation seems to be entirely based on expectations on future blockspace value.
Keep attention to watch the burn:
Burned+tips at 2.3M daily, down from 15M daily. That's the price people pay for blockspace, and it's part of the rewards users will get by holding/stacking eth longterm.
Sitting at 0,7% annualized compared to marketcap.
@UniswapCalls Got 50% stables, it didn't feel right not to be exposed to BTC/ETH, but do you still think we will go lower and now is time to exit some of the positions?
We have refunded gas fees to everyone who made a transaction that failed due to network conditions caused by the mint. The fees have been sent back to the wallets used for the initial transaction. Here’s how to find your refund… 🧵
Bitcoin Long-Term Holders continue to capitulate, with a huge divergence between their purchase price (blue) and their selling price (pink).
This is the largest LTH capitulation in Bitcoin history.
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In the 6+ months leading up to the last two major bear market capitulation events we saw large amounts of #BTC moving to the exchanges.
The last 6+ months we have seen the exact opposite, we have seen large amounts of #Bitcoin being taken off of the exchanges.
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