Murphy|Sep 12, 2026 08:36
Congrats to all the ETH warriors...
Recently, ETH has been leading the charge with a clear upward momentum. Since 6/26, Ethereum, as the "second brother," has been holding strong, even overshadowing the "big brother."
Looking back now, don't you think my 3-part Twitter thread from August 15 is aging like fine wine? (See quoted tweet)
At that time, ETH was still around $1,800. At the request of some friends, I objectively analyzed it from multiple angles—supply and demand, token structure, whale costs—and shared my perspective.
In the thread, I clearly mentioned: based on comprehensive data, the bottom characteristics of ETH around the $1,500 low were very evident.
The logic is actually simple: believers were accumulating, while sellers at a loss/profit were decreasing. Large accounts were monopolizing supply, and tokens were becoming increasingly concentrated. Back then, their cost basis was around $2,000.
All of this severely limited ETH's downside potential. So, on July 1, when BTC hit a new low, ETH didn't follow.
Recently, I also noticed that the ETH flow ratio on exchanges relative to BTC has been rising. The previous high for this flow ratio was in early August 2025, and a month later, the ETH/BTC exchange rate peaked at 0.042.
Currently, the E/B rate is 0.032. If the flow ratio continues to rise, it indicates that ETH is attracting a larger share of funds, which will inevitably drive the exchange rate higher.
Lastly, a big congrats to all the ETH warriors who have held on through thick and thin—it looks like the toughest days are behind us.
Hold strong! I won't make any bold claims, but seeing the E/B rate return to 0.04 seems just around the corner.
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