Between wBTC (and others), GrayScale, and most notably DeFi, over 5% of ETH supply is currently locked up in collateralizatio. Earlier this year, we were excited about 1%. It’s becoming very material and increasing exponentially now. This is all before you consider ETH locked up for staking next year, so there’s obvious reason to be bullish on ETH price even if you’re not a believer in ETH 2.0... And the nonbelievers will come around when Phase 0 succeeds.
Most people here on Blind won't understand what you wrote. I am with you.
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That will turn ETH into BTC. A good thing, but Ethereum won’t be used as a currency. Ethereum will be more of an asset if staking > mining. This may be good for ETC or DOGE more than anything. It makes you wonder why they don’t just cap the overall number of ETH like Bitcoin.
That’s easy: ETH supply will begin decreasing in 2022, so there’s no need to cap a deflationary asset.
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