🧵 At a fundamental level, Ethereum is in a dire situation:
1. Demand for its block space is at an all-time low 2. L2s cannibalize ETH users and security 3. EVM wallets now offer non-ETH gas options 4. Largest DEX in crypto is not on ETH 5. Vitalik pivots from EVM to RISC-V
Lately, the level of market manipulation is frankly disturbing.
▫️ Trump announces dinner with top $TRUMP holders = token pumps 70% ▫️ Days before that, the first major TRUMP unlock started ▫️ Trump imposes 245% tariffs on China, then appears to change his mind, then that is denied = market dumps → pumps → dumps ▫️ China confirms they are not even in discussions with US on tariffs = market dumps
Someone is literally printing billions with every tweet and news from Trump.