Bear with me, long ETH bullpost incoming: I think we're finally going to see the effects of The Merge + EIP-1559/burn overall issuance reduction going forward (which was a 90%+ reduction in newly issued ETH). What was missing over the last couple of years was the demand piece - unfortunately after EIP-1559 and during The Merge, it was a bear market and then ETH didn't capture the meta (memecoins) or any of the new macro buyers (they went to BTC). Now, ETH *is* capturing the macro buyers in a really big way mainly via the ETFs and the treasury companies (and we've only just begun here) + Ethereum has firmly captured the meta of stablecoins/tokenization and companies building their own chains as L2's. All of this puts a massive bid on ETH that we haven't seen under a paradigm where ETH has an extremely limited supply. The ETH ETFs over the last 9 days have eaten all of the net issued ETH (inc. the burn) since The Merge. And that's just the ETFs - I'm not even including the treasury companies here! Now on top of all this net new demand, we can throw in an increasing ETH burn as we scale the L1+L2's and onchain activity goes up which will just further reduce the available ETH for all of these entities to buy. I don't think I've ever been this bullish on ETH - the stars have never been this aligned for it and all of this is extremely reflexive to the upside. ETH to 100 trillion isn't just a dream - it will be reality!