RT Ignas | DeFi (@DefiIgnas)$ETH potential to pump is capped by its failure to be accepted as SoV.To buy and hold $ETH now you need to believe in its ability to become a store of value asset.Yes, $ETH can run to 10k with no fundamental change, but the current narrative of tokenization and RWAs is not enough to push it much higher without the SoV premium.This narrative can even backfire as new chains ALREADY compete for RWAs and stablecoin adoption with better features like privacy, speed, and low fees.Yet n ...

Store of Value (SoV) Potential - Ethereum's potential for price appreciation is limited by its failure to be widely accepted as a store of value [1] - To justify holding Ethereum, investors need to believe in its potential to become a store of value asset [1] - Ethereum needs to gain acceptance from passive institutional and retail holders, similar to Bitcoin [2] - A deflationary supply is considered a crucial element for Ethereum to become a superior store of value compared to Bitcoin [2][3] Tokenization and Real World Assets (RWAs) - The current narrative of tokenization and RWAs may not be sufficient to significantly increase Ethereum's price without the store of value premium [1] - New chains are already competing for RWA and stablecoin adoption with features like privacy, speed, and low fees, potentially hindering Ethereum's growth in this area [1] Ethereum's Advantages - Ethereum possesses native yield and smart contract utility for usage within DeFi [4] - Some DeFi users already treat Ethereum as a yield-bearing collateral, indicating existing adoption as a store of value [2] Challenges and Future Outlook - Alt L1s are unlikely to be as neutral or decentralized as Ethereum, giving Ethereum a potential advantage [2] - Ethereum needs to find a way to tax the L2s, and adoption needs to grow enough to burn supply for it to become a superior SoV [3]

Token Economy Sustainability - Utility is a key factor for sustainable value in a token economy [1] - Community incentives contribute to the sustainability of a token economy [1] - Deflationary supply mechanisms can bring sustainable value [1] - Governance rights are important for long-term value in a token economy [1]

Token Integration - Bitget's BGB token integrates with Morphlayer [1] - BGB serves as a gas and governance token [1] - The token supply is deflationary [1] Utility Expansion - BGB's utility has been expanded [1]