Degen

Was scrolling and came across the upcoming theory, and I'd like to hear some thoughts about it ; 

Coinbase probably has a lot to do with the constant sell pressure on $ETH. It generates tons of fees in $ETH on its Base protocol. It doesn't hold $ETH; it sells it all off to cash. Coinbase's recent analysis, over a 30-day period, shows Base generated $30 million in top-line revenue from sequencer fees, which, if annualized, equates to approximately $360 million per year. So, right there, that's $1 million a day in sell pressure. I'm sure there's more, too.

Investor, Trader, & Market analyst. 📊 Web3 explorer👾🟪 Degentleman🎩

 /smellcheckmate 🌐