Executive Summary: Why Is Ethereum Going Down? (October 2022)
For a while, it looked like ETH would merge with three figures following the Merge. In this article, I assess why ETH has not been turbobullish as predicted after going to PoS.
What you will learn:
- The developments on Ethereum in Q3 2022.
- Issuance is down as planned and addresses are up following the Merge.
- But demand for network fees is flat since the 2017 bull run and the macro sucks.
- L2 scaling is cannibalizing demand for Ethereum blockspace.