Take everything you know about ETH's historic price movements and throw it out the window. Literally, completely forget it. Why? Phase 1: crypto was Ouroboros (first ten years). Phase 2: Ethereum enables open banking via stablecoins and tokenization. Phase 2 allows the world's financial system to graduate from separate banking ledgers around the world running on COBOL (ancient code) to share one ledger: Ethereum. Everything is going to be tokenized. The network effects on Ethereum will be unlike anything we've seen before. L1 and L2 chain fragmentation will soon be solved (within 6 months). The network effects will be massive due to Metcalfe's Law where the value of the network is approximately n². (n is number of users) If you are still thinking $4,000 to $10,000 ETH, you don't understand ETH. You're still stuck in phase 1 mentality. The base case for ETH in the phase 2 universe I'm describing is $300,000 ETH. 100x ETH should be your base case. Few.

Surreal moment. President Trump just signed the first federal crypto bill into law, ushering in a new era for crypto, one that starts today for stablecoins. Market structure will be next and we’re committed to the White House’s September 30 deadline.

. @x and @xai please add stablecoin/crypto checkout to stripe payments. Would be more likely to splurge on yearly grok 4 heavy subscription. cc @XMoney @elonmusk @nikitabier

Why do established companies like Kodak or Blockbuster fail despite strong management? Clayton Christensen's "The Innovator's Dilemma" explains: Incumbents prioritize sustaining innovations for high-margin customers, overlooking disruptive technologies that begin in niche markets but eventually dominate. Thread: How @Coinbase is addressing this challenge through Base, led by @brian_armstrong and @jessepollak .

Coinbase has now entered the top 100 of stocks in the S&P 500 by market cap at $110 Billion. Today passing Lockheed Martin, Nike, Starbucks... $COIN

Hearing even more things 🤣 Send it much higher

Happy ATH @Coinbase! Great job as always @brian_armstrong, strong leadership and vision. $COIN to the Moon!

Think about it, net ETH issuance since The Merge is 388K ETH The U.S ETFs have 2.23M ETH so it represents about 17.24 years of ETH supply at the current historical issuance rate. That's without factoring in Treasury companies or other demand. The supply shock is real $ETH

Net new ETH issuance today: ~1,753 ETH ($6.3 million). Net inflows into the ETH ETFs today: ~175,005 ETH ($600 million). The ETH ETFs bought 100x more ETH than was net issued by the network today. Accelerate!

Just 7 years ago, the Ethereum network was producing 13,000,000 new ETH a year Today, it's producing 870,000 ETH a year Supply has been reduced 94% Demand seemingly just 100x'd over night You figure out what's next...