Matt Hougan on the three things driving ETH
The first is that ETH became genuinely hated, and the selling that came with it was thorough. Anyone who had lost patience puked out a few months ago around the depths of the foundation reorg, which left almost nobody holding who still wanted out. The second is community momentum, since the formation of new entities after that retreat gave the ecosystem something to point at, and ETH was already outperforming Bitcoin going into the move. The third is narrative, with stablecoins and tokenization emerging as the dominant meta theme and ETH widely seen as sitting at the centre of it. Stack those together and you get the explosive move, though his emphasis is on the first one. It’s a no seller move, which is why even modest demand sends price sharply higher.
#Ethereum #Crypto #Markets #ETH #Macro
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