ETH is VERY far from dead.
My intro to crypto happened in 2011, so clearly I'm a huge fan and supporter of BTC, but I want to be clear here, I don't think BTC can reach the ultimate levels that we all want to see without ETH also making significant record highs.
BTC is the digital store of value and money of web 3. It's a simple role, requiring little else, but I'm afraid that won't be good enough for the long term.
As a blockchain maxi, I truly believe that nearly all assets of value will eventually trade on a blockchain. This means ALL stock, bonds, real estate and who knows what else. I've always viewed the final boss for acceptance of digital assets will be the merging of the traditional finance world with the digital finance world.
Obviously this can't happen on BTC, but it can and likely will happen on ETH. ETH gives the world something that nothing else can currently. The security, speed and decentralization of ETH is still unrivaled by any other chain. The NYSE or NASDAQ isn't ever building on SOL, sorry, its not happening, but it very well could build on ETH.
I get that it seems like ETH is dead, but perhaps change your perspective a bit, its only dead until it isn't and if you believe blockchain will continue to change and reshape the world, then that future is almost certainly built on ETH.
People significantly underestimate how fast ETH L2 transaction volume will grow. Imagine if this chart represented the cost to send a text or email.
Actually, we know what cost compression did to texting. In 2005, it cost $0.20 to send a text and US users sent 81 billion texts . By 2011, the avg. cost was $0 and users sent 2.3 trillion texts, a 28-fold increase. Of course, there were UX improvements on texting in the intervening time period, but the same is true for L2 transactions. The numbers are going to get really big really fast.
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