ManLyNFT

I think the market is judging $ETH with the wrong scoreboard.

Ethereum mainnet fees are important, but they are only one part of the asset’s economic role.

More than 40M ETH is currently staked, equal to roughly 32% of the supply. Ethereum also holds around $41B in DeFi TVL, nearly $150B in stablecoins and close to $15B in active RWAs.

Its scaling ecosystem secures another $34B+ across L2s.

To me, this is a much stronger way to understand ETH:

It is the asset validators stake to secure Ethereum.

It is one of the deepest and most widely accepted forms of collateral in DeFi.

And it is the native asset used by rollups to purchase Ethereum’s settlement and data availability.

The concern around value accrual is still valid.

EIP-4844 made L2 transactions much cheaper by moving rollup data into blobs. That was great for scaling, but it also reduced the immediate fees flowing through the L1.

So the real question is not whether Ethereum can produce the highest TPS.

It is whether growing activity across L2s, stablecoins, DeFi and tokenized assets will eventually create enough demand for Ethereum’s security, settlement and blobspace to flow back into ETH.

That part is not fully proven yet.

But I still believe the market is focusing too much on today’s fee revenue while overlooking the amount of capital already depending on Ethereum.

I’m holding $ETH because I don’t see it as another L1 competing for transaction count.

I see it as a reserve collateral and settlement asset for an onchain financial system that is still being built.

Short-term $BTC holders just moved 32,800 BTC to exchanges at a loss in 24h.

Biggest loss realization in two weeks.

This is the part of the market nobody wants to admit.

A lot of people don’t lose because they picked the wrong asset.

They lose because the waiting becomes heavier than the loss.

$BTC ETF flows finally printed a green week again.

First time since May.

I wouldn’t call this some huge reversal yet, but it does change the tone a bit.

For weeks, the chart looked like money was just leaking out of the door.

Now at least that bleeding has paused.
Sometimes that’s all a market needs at first.

Not hype.

Just less pressure.

BNB Chain is starting to look very different from the chain people remember from the last cycle.

It now has over $4B in tokenized real-world assets, making it the second-largest RWA network behind Ethereum.

The number of RWA holders has also reached around 118K, growing nearly 27 percent in just 30 days.

For years, BNB Chain was mainly seen as a home for retail trading, memes and cheap transfers.

Now US Treasuries, tokenized stocks and other real assets are becoming part of the ecosystem too.

That matters because BNB Chain already has what many RWA networks are still trying to build: users, liquidity and distribution.

The RWA wave is still early, but BNB Chain is already in a very strong position.

Still bullish on $BNB

@CZ @Yi He @BNB Chain

A Bitcoin wallet slept for 16 years and just moved 40 BTC.

That’s the kind of conviction everyone says they have until the first scary candle shows up.

Buying early is rare.

Holding through 16 years of chaos is almost unreal. $BTC

Not every ATH shows up on the price chart.

$SOL just did 1B non-vote transactions in a single week.

That’s actually crazy when you think about it.

While everyone is waiting for the market to “feel bullish” again, the chain is already doing numbers in the background.

No need to overcomplicate it.

Price gets people talking.