EthFinance

I saw a take that one reason $ETH price is suppressed is because it's the primary target for hedging via shorts:

1. $ETH has by far the most liquidity against stables, especially on defi/dex
2. If the crypto market crashes, $ETH is very likely going down with it

So whales can ape positions into whatever tokens ($BTC, $SOL, whatever) and hedge their positions by shorting $ETH.

If this turns out to be true, and it's responsible for holding down the price, what should we be doing differently? Is there something that "the devs" should do about this?

Kind of a curse of being the best at something while also correlated with a bunch of other assets.

Fwiw I haven't found public data to support it yet, keep an eye out!