ercwl
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The ETHBTC ratio did not go down because of ”The Merge”
The ETHBTC ratio collapsed because:
- societal value rotation out of "feminized wef soyboys in unicorn t-shirts" into "bronze age mindset" broadly
- ethereum always occupied a vertical more prone to competition
- l2s confused the ETH asset value capture narrative and caused network fragmentation
- eth does not have a saylor buyer
- bitcoin and gold are maturing into wartime assets whereas the peacetime asset ETH struggles
- ETH also struggles to even look nerdy/smart/futuristic compared to AI which is the new hot ball of money for that investor type
- ethereum also stagnated into a depressingly small number of defi primitives relative to what past expectations were
*Not* the Merge.
The ETHBTC ratio collapsed because:
- societal value rotation out of "feminized wef soyboys in unicorn t-shirts" into "bronze age mindset" broadly
- ethereum always occupied a vertical more prone to competition
- l2s confused the ETH asset value capture narrative and caused network fragmentation
- eth does not have a saylor buyer
- bitcoin and gold are maturing into wartime assets whereas the peacetime asset ETH struggles
- ETH also struggles to even look nerdy/smart/futuristic compared to AI which is the new hot ball of money for that investor type
- ethereum also stagnated into a depressingly small number of defi primitives relative to what past expectations were
*Not* the Merge.
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