$ETH 3400 has seriously deviated from the value bottom line, even institutions can no longer sit still.
Many people feel that ETH is quiet, not interesting, and not rising, but those institutions that make value judgments have started to build positions continuously.
ETH is consolidating in the 3500-3400 range, which is essentially a mismatch between value and price. On-chain activity, L2 ecosystem expansion, staking ratio, supply deflation—any one of these indicators, if presented in the stock market, would be considered a "core asset."
Yet the market is currently ignoring it. You may think the market is quiet, but in fact, capital is reallocating power.
When ETH rises back to 4000 or even 5000, all the reasons for "looking back" will turn into "why didn’t I buy at that time."
