heisenburrr
Have Fun Staying Poor
Ive been thinking about eth price. The thing about it is that it's needed to build on top of ethereum, so there really is a limit on how expensive a single coin can be before it limits the ability to actually create businesses.
No one does actual business on ETH though.
ETH's a giant sandbox for financial experimentation where hedge funds, traders and venture capitalists move money around, orchestrate pumps and rob the pockets of retail amateurs.
It's an interesting and perhaps valuable case study but there's nothing substantial happening on ETH outside of the DeFi bubble right now.
Fees are through the roof because whales are arbitraging the fukk out of every opportunities and paying premium to get their transactions mined first.