Wrote a thing about ETH, I heard lots of ETH maxis migrated to Farcaster, so thought you might be interested...

I have a weekly call with @hjmomtazi to discuss the market. We spent almost the entire call this week debating whether ETH is doomed.

kain.near

Wrote a thing about ETH, I heard lots of ETH maxis migrated to Farcaster, so thought you might be interested... https://x.com/kaiynne/status/1906908798826221584

the original sin was to lean into the narrative that the ETH valuation model is what burn in the block
pure midcurvery 

the biggest demand for ETH is what gets locked up in AMMs as the quote currency
ETH stopped going up because ecosystem (new asset launches) stopped
SOL went up because coins launch there and SOL gets locked up against it