$ETH bulls finally offer a strong bullish narrative but...
.... for a violent upward move I want to see strong onchain metrics for L1:
1. Transaction count finally breaking a 3-year slowdown
2. Active addresses starting to rise
3. However, price increase, transactions, and active addresses have yet to make ETH deflationary
Over 30d, 6k ETH burned vs 79k issued.
- Need to scale the L1
- Need new dApps on mainnet
- Need more activity on the L1
Then $ETH will be unstoppable.



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