Same playbook, new cycle: $ETH yawns early, then owns the stage.

2021: people laughed when it “only” 2×.

Weeks later it ripped from $2K → $4.8K while they chased memes.

2025 setup is even juicier:

• Exchange balances at record lows

• Spot ETFs ready to funnel big-boy money

ETH is the engine: L2s, DeFi, RWAs, AI — all roads lead here.

This isn’t weakness. It’s the hush before liftoff.