🔶Ignoring the technicals to focus on price prospects:
📌 More than 155 million $ETH holder wallets are in profit.
📌 The Taker Buy/Sell Ratio on Binance has dropped to 0.87 – the lowest level of the year, indicating that buyers are losing strength.
The buying side needs to return soon, or ETH will soon fall to deeper levels.
📍It has been 3 years since The Merge, what has Ethereum achieved?
📌 The Merge (09/2022) transitioned #Ethereum from PoW to PoS without interruption. Energy consumption decreased by ~99.95%, new ETH issuance dropped by ~95%, laying the groundwork for $ETH deflation.
📌 After the Merge:
- Daily transactions increased from ~1.17M to 1.32M (+13%)
- TPS: from 13.5 to 15.3 (+13%)
- Daily transaction fees plummeted from ~7,464 ETH to just ~964 ETH (−87%)
- DAA slightly increased from 573k to 602k (+5%)
📌 Shanghai (04/2023) unlocked ETH withdrawals for validators, making staking a flexible capital cycle. As a result, staking exploded to become the backbone of DeFi: >35M $ETH staked with >1M validators.
📌 Dencun (03/2024) upgraded Proto-Danksharding (EIP-4844) with blob transactions, reducing rollup data costs by up to 90%. The consequences:
- Arbitrum, Optimism, zkSync became even cheaper, and on-chain activity surged.
- L2 data posting costs decreased by ~90%
- L2 transactions increased by +196% in the first month
- Total Ethereum fees in 2024 reached $2.48B (+3% YoY) despite individual tx fees decreasing.
📌 Next will be full Danksharding with more blobs per block, expanding data and reducing rollup costs. Ethereum is taking steps towards solving the blockchain trilemma: Scalability – Security – Decentralization. After 3-6 months following upgrades, ETH price typically rises by an average of 30%.
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