@SolarEtherPunk If fee revenue Is the driver then other L1s are even more screwed. Anyways, the insane P/E ratio of eth makes it clear that revenue is lowest priority
Your three bullets of what’s coming are spot on. I think EF rightfully focused on what makes Eth the backbone of global Econ.
@MacroScope17@dampedspring If it is a bubble, it is the first one that I can recall where you do not see the obvious impacts in retail sentiment and buying behavior
@themarketradar The alleged valuation for this thing goes up by a quarter trillion dollars every two weeks. That doesn’t seem like that’s grounded in reality.
@StonkChris I don’t understand how there is not a liquidity tailwind and when every other asset class is at all-time highs. What’s driving the bid there if not liquidity.
@astronomer_zero What do you think it means for the broader environment if, and I’m not saying this to make trivial what you are doing because it is very impressive, but if it is following these seemingly liquidity based paths that seem more easily projected vs more dramatic and volatile moves