1/ You can theoretically have quadrillions ‘passing’ through Ethereum and ether could still not acquire much of a SoV monetary premium, and deep inside you know this to be true.
I agree. I’d also add that, if ETH doesn’t become seen as a SoV, interoperability + abstraction + frictionlessness + seamless DEXes + atomic swaps will make that “near-term” period get shorter and shorter, potentially driving ETH velocity higher, and hence, price lower.
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Higher velocity doesn’t always translate to lower price. If the rate of velocity growth exceeds the rate of “GDP” growth (PQ) then yes, it will translate to a lower price & weaken the case for hodling.
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Could you clarify what we are looking at with this chart?
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Looks like NVT left axis and network value right axis
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I love this tool - it's great tool for quick rebuttal of not data driven tweets ;) Usually intuition about SoV/Velocity is wrong
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I agree with your point - velocity isn’t exerting itself yet for many reasons - but Ethereum NVT is misleading there (my bad...) going to publish something on the topic soon
End of conversation
New conversation -
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