-cut-
- Price Narrative: With fees dropping and many transactions moving to L2/L3 (e.g., for payments or HFT), ETH’s demand as a gas token might weaken. Unlike Bitcoin’s “digital gold” story, Ethereum needs a compelling narrative to drive price. Will staking yields or L2 adoption fill the gap?
I don't see this as much of a problem. It might not be mooning, but less fluctuating price and cheap fees are good foundation to create platforms on.
I don't get this "up only" mentality in most of the biggest coins. If it's supposed to be an utility coin, why would it be beneficial for anyone other then speculative trades, that price could be mooning like nothing else, only to correct the movement in panic? Whom does it serve if people just hoard it for speculative purposes?