Something VERY interesting is happening with #ETH's valuation! 🚨 For the first time in a while, Ethereum's ecosystem holds MORE value than ETH's own market capitalization. 🔹 Ethereum ecosystem TVL: $290.6B 🔹 ETH fully diluted market cap: $273.4B 🔹 Ecosystem TVL is now ~6% HIGHER Think about that for a moment. Nearly $300 BILLION in assets are deployed across Ethereum's financial ecosystem. Yet ETH itself is valued at less. I think this highlights one of the most UNDERAPPRECIATED questions in crypto. Are we still valuing ETH like just another speculative cryptocurrency? Or should we increasingly view it as monetary collateral and a potential STORE OF VALUE for the emerging ONCHAIN economy? Of course, ecosystem TVL doesn't automatically translate into value for ETH holders. But the more financial activity Ethereum supports, the more interesting its role as a foundational monetary asset becomes. The infrastructure is growing. The market still seems uncertain how to value the asset securing it. And THAT is where I see the long-term opportunity. 📈