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ETH this big pump, the fundamentals haven't really changed, TVL hasn't increased significantly, GAS hasn't surged, developer activity is mediocre, and on-chain transactions haven't "returned to prosperity."
But institutions are buying, ETFs are being approved, narratives are being hyped, so prices are rising, but not due to on-chain prosperity, rather because of off-chain stories.
Understand this point clearly: short-term trading is driven by emotions, while long-term investing focuses on fundamentals. ETH is not without value; rather, the current rise is not value-driven.
However, institutions are buying, ETFs are being approved, and narratives are being hyped, so the price is rising, but it is not due to on-chain prosperity, rather it is driven by off-chain stories.
Understand this point clearly: short-term trading relies on emotions, long-term looks at development. ETH is not without value, but the current rise is not value-driven.
But institutions are buying, ETFs are being approved, and narratives are being hyped, so the price is rising, but it's not based on on-chain prosperity, rather it's relying on off-chain stories.
Understanding this point, short-term trading is based on emotions, while long-term views focus on construction. ETH is not without value, but the current rise is not value-driven.