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Token Terminal 📊·2025-10-07 20:45
RT gphummer.eth 🦇🔊 (@gphummer)Last year, a number of VCs and crypto influencers were expressing “concern” over Ethereum’s cash flows. Alternate chains (whose cash flows are now collapsing and/or flowing to more centralized competitors) were extracting millions of dollars per day in memecoin MEV, acting like a Vegas casino on steroids.The premise underlying this critique was that ETH should be viewed and valued as a tech stock. Somehow, this same critique never applied to Bitcoin, which now only has $5B of e ...