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@basekid
If Eth were to do nothing from now on, it should still be worth trillions of dollars. On a narrative level, the Eth Foundation and @VitalikButerin have been swept away by VC since the last cycle, who have stopped focusing on popularizing the disruptive and great significance of blockchain and DEFI itself, and instead tied ETH future value to an “explosion of applications”. When that didn't happen, people were shaken and confused.
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