ETHEUR
Ethereum / Euro
crypto Composite

> Still have seen zero compelling responses to David Hoffman’s critiques of ETH’s nonexistent value accrual mechanism.
Fees are currently tiny because the network's capacity has increased faster than demand. This is just temporary, and to be honest I struggle to believe that Hoffman doesn't understand that.
The transaction fee is primarily a tool to reduce congestion, when there isn't enough 'space' for all the transactions being submitted then the base fee automatically increases to disincentivize low value transactions, reducing the network load. If there is plenty of 'space' available then the base fee drops to a minimal amount so that the highest number of users can afford to use the chain.
> Get angrier. Demand protocol level changes that optimize for ETH value.
Getting angry about the current burn rate is like getting angry at your government for building more infrastructure to futureproof the transport links or water supply or whatever.
> This whole thing goes to shit if number doesn’t go up.
Demand for blockspace has never stopped increasing and we know that as more and more of tradfi builds on Ethereum this trend will continue. Larry Fink was talking at Davos this year about bringing the entire financial system onto 'one common blockchain' and has since then Blackrock have announced two more RWA tokenization projects, built on Ethereum L1.
At some point the demand for gas will again exceed the capacity and the network will again burn lots of ETH through increased base fees. The asset will again become deflationary, and the concern trolls will switch again to complaining that fees are too high.

As someone new to ETH...when is this going to happen? lol

> Still have seen zero compelling responses to David Hoffman’s critiques of ETH’s nonexistent value accrual mechanism.
Fees are currently tiny because the network's capacity has increased faster than demand. This is just temporary, and to be honest I struggle to believe that Hoffman doesn't understand that.
The transaction fee is primarily a tool to reduce congestion, when there isn't enough 'space' for all the transactions being submitted then the base fee automatically increases to disincentivize low value transactions, reducing the network load. If there is plenty of 'space' available then the base fee drops to a minimal amount so that the highest number of users can afford to use the chain.
> Get angrier. Demand protocol level changes that optimize for ETH value.
Getting angry about the current burn rate is like getting angry at your government for building more infrastructure to futureproof the transport links or water supply or whatever.
> This whole thing goes to shit if number doesn’t go up.
Demand for blockspace has never stopped increasing and we know that as more and more of tradfi builds on Ethereum this trend will continue. Larry Fink was talking at Davos this year about bringing the entire financial system onto 'one common blockchain' and has since then Blackrock have announced two more RWA tokenization projects, built on Ethereum L1.
At some point the demand for gas will again exceed the capacity and the network will again burn lots of ETH through increased base fees. The asset will again become deflationary, and the concern trolls will switch again to complaining that fees are too high.

As someone new to ETH...when is this going to happen? lol

U can swap ETH for staked version of ETH like rETH.

Thats why the chart is ETH/BTC. The chart shows ETH dying.

Who cares about TPS, if you are giving it away for almost free? You have a job or provide some service, I assume you dont do it for free... because your services are providing value.
Eth is charging almost free, meaning they value their service at almost 0.
At these rates small stakers are dying. Whales do well because they create pools and rake 15-30% of the rewards.

Rough week across the board. BTC \~51% off its Oct ’25 high, ETH at 2-year lows, SOL at its lowest since Dec 2023, F&G buried in fear, and \~$1.7B in leverage wiped in a single 24h stretch.
Instead of the “is the bull market over” doom takes, I tried to separate what broke from what just sold off. Going through the drivers, almost none of them are crypto-native:
• Record ETF redemptions — US spot BTC ETFs logged their biggest weekly outflow ever (\~$3.4B); ETH ETFs are on their longest net-outflow streak on record. Direct bid leaving the market.
• Macro risk-off — sticky inflation, stronger dollar, Fed “higher for longer.” Capital rotating to cash/bonds/gold. Every risk asset is getting sold, not just crypto.
• Leverage flush — mostly mechanical, longs cascading into liquidation. Painful, but it resets froth.
• Cycle psychology — we’re squarely in the part of the 4-year window where sentiment historically sours.
What’s not on the list: no protocol failure, no exchange blowup, no broken networks. Chains processing, DeFi functioning, dev activity intact.
The one genuinely interesting divergence I can’t stop looking at: while BTC and ETH ETFs hemorrhaged billions, Solana spot ETFs just posted their best month of 2026 (\~$15.6M net inflows last week, total SOL ETF assets crossing $1B). Smart money rotating into one name during peak fear is at least worth a conversation.
Not calling a bottom — ETH prediction markets are pricing 70%+ odds of a deeper leg down, and BTC’s still in a confirmed downtrend. Just that the cause here reads as liquidity + sentiment, not fundamentals.
Where’s everyone landing — capitulation flush, or the start of something worse? And is the SOL flow divergence signal or noise?