@dhai.eth
The ETH pump is not only good for your bags, but very important for the protocol as well:
- attacking the network becomes more expensive
- validators are paid in ETH. higher ETH price buys more security in dollar value for the same amount of ETH
- if ETH is worth more, the USD value of the burn per unit of gas rises. this can outpace issuance and keep ETH’s supply growth low or negative
- high ETH price → more secure chain → more confidence for high-value transactions and DeFi TVL → more usage → more fees/burn → strengthens ETH price. it is a flywheel
- L2 settlement fees become more valuable too
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