ETH is also the most used app on Ethereum with over 300M direct ETH transactions in the last year alone
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Mhh seems like Grok got tired. Here is chatGPTs answer.
@bellnatalie101 I totally get your point, but as of right now, no one can know whether this will work out. The numbers we have so far aren't super optimistic and paying $50++ for a transaction is steep for normal users.
And especially with so much Blockspace avaains like Ethereum.
@bellnatalie101 I totally get your point, but as of right now, no one can know whether this will work out. The numbers we have so far aren't super optimistic and paying $50++ for a transaction is steep for normal users.
And especially with so much Blockspace avaains like Ethereum.
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I want to sharpen my own thinking around why I think ETH has the potential to become the best SoV in the world.
Would love to hear arguments for/against any of my conclusions!
First things first - at it's current stage, I cannot confidently call ETH the best SoV, yet.
Why?
- eats are real
- Price action in the past 5 years was worse than other SoVs
BUT, imho it has the best chances to become the leading SoV.
The AI and PQ threat is being worked on full steam - the Ethereum community agrees that this has top priority.
Once Ethereum has successfully transitioned to post-quantum cryptography, I currently don't see any other asset with better properties.
This transition could quickly grow the assets adoption (esp. if cryptography of banks and tradfi start to fail).
When I compare ETH against other SoV contenders, I'm coming to the following conclusions:
ETH vs real estate
- reals estate isn't transportable (I cannot just bring it with me when I travel/move)
- real estate markets are more inefficient
- local factors might heavily influence the value appreciation/depreciation of my property
- upkeep costs are necessary (but generally lower than the generated rental income) and are dependent on availability of workers
ETH vs Fiat
- higher inflation (varies by country, but basically all have them)
- depending on the currency, there might be issues with accessibility
- one would need to pick a basket of currencies in order to diversify geopolitical risk properly
- dependent on decisions from central banks
ETH vs Gold
- gold is hard to verify, hard to break down into smaller amounts, and harder to trade in general
- you cannot easily transfer gold without a physical handover
- won't be useful to AI agents
ETH vs BTC
- ETH is programmable, which allows you to use your ETH natively on the underlying blockchain (Ethereum) whereas swapping/borrowing/lending BTC introduces additional trust assumptions (because Bitcoin chain is a ledger for token transfers and you'd have to go through centralized exchanges or other 3rd parties for more expressivity)
- Bitcoin is also working on PQ solutions (BIP-360 & BIP-361), but the migration path appears less defined compared to Ethereums more explicit and time-bound roadmap
- Bitcoin's fixed supply and declining PoW block rewards create an unresolved long-term security-budget question
Other pro ETH points
- it's programmable
- it's green
- it has the coolest brand (the logo is just amazing and goes with anything)
- it is productive (i.e. it can generate a native staking yield)
As mentioned, would love to discuss this publicly to sharpen my own thinking.
Also: never put all your eggs in the same basket. Even if one asset has the best "properties", it doesn't mean that the chance for success is 100% - there are always risks involved.
Would love to hear arguments for/against any of my conclusions!
First things first - at it's current stage, I cannot confidently call ETH the best SoV, yet.
Why?
- eats are real
- Price action in the past 5 years was worse than other SoVs
BUT, imho it has the best chances to become the leading SoV.
The AI and PQ threat is being worked on full steam - the Ethereum community agrees that this has top priority.
Once Ethereum has successfully transitioned to post-quantum cryptography, I currently don't see any other asset with better properties.
This transition could quickly grow the assets adoption (esp. if cryptography of banks and tradfi start to fail).
When I compare ETH against other SoV contenders, I'm coming to the following conclusions:
ETH vs real estate
- reals estate isn't transportable (I cannot just bring it with me when I travel/move)
- real estate markets are more inefficient
- local factors might heavily influence the value appreciation/depreciation of my property
- upkeep costs are necessary (but generally lower than the generated rental income) and are dependent on availability of workers
ETH vs Fiat
- higher inflation (varies by country, but basically all have them)
- depending on the currency, there might be issues with accessibility
- one would need to pick a basket of currencies in order to diversify geopolitical risk properly
- dependent on decisions from central banks
ETH vs Gold
- gold is hard to verify, hard to break down into smaller amounts, and harder to trade in general
- you cannot easily transfer gold without a physical handover
- won't be useful to AI agents
ETH vs BTC
- ETH is programmable, which allows you to use your ETH natively on the underlying blockchain (Ethereum) whereas swapping/borrowing/lending BTC introduces additional trust assumptions (because Bitcoin chain is a ledger for token transfers and you'd have to go through centralized exchanges or other 3rd parties for more expressivity)
- Bitcoin is also working on PQ solutions (BIP-360 & BIP-361), but the migration path appears less defined compared to Ethereums more explicit and time-bound roadmap
- Bitcoin's fixed supply and declining PoW block rewards create an unresolved long-term security-budget question
Other pro ETH points
- it's programmable
- it's green
- it has the coolest brand (the logo is just amazing and goes with anything)
- it is productive (i.e. it can generate a native staking yield)
As mentioned, would love to discuss this publicly to sharpen my own thinking.
Also: never put all your eggs in the same basket. Even if one asset has the best "properties", it doesn't mean that the chance for success is 100% - there are always risks involved.
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Btw - most gold is held by private households.
Just an interesting fact that I wanted to learn about during this exchange here :)
Just an interesting fact that I wanted to learn about during this exchange here :)
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Monetary policy has indeed changed in the past but it's been down only for issuance.
And since the merge, 4 years ago (!!) nothing was changed anymore.
It's better to iterate + improve early on instead of being stagnant on holding on to systems that won't work imo.
And since the merge, 4 years ago (!!) nothing was changed anymore.
It's better to iterate + improve early on instead of being stagnant on holding on to systems that won't work imo.
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"Step one of winning is surving ~and making sure that we are fully secure with regards to post-quantum and AI~"
The priorities are clear - making $ETH the best post-quantum/AI SoV asap 🫡
The priorities are clear - making $ETH the best post-quantum/AI SoV asap 🫡
"Step one of winning is surviving… then the next step is getting Ethereum actually used at a much higher scale." - @VitalikButerin
Vitalik says @ethereum is making sure it is fully secure against quantum computers and AI, so it can scale into prediction markets, decentralized Os.
He also says private transactions that cost more than 300,000 gas today will get much cheaper and become quantum safe.
I asked him about the next decade of Ethereum.
> What used to be hard or expensive on Ethereum that will become easy and cheap in the next 18 to 24 months? > What becomes newly practical for users and builders over the next 3 to 5 years of lean Ethereum? > What does winning look like for Ethereum in the next decade, and what early signals would show it? > How does Ethereum's edge with institutions compound as more assets move on-chain?
Full Q&A👇
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My Devcon takeaways after a week in Mumbai 🇮🇳
A few observations, opinions, and some constructive criticism:
1. Institutional adoption isn't a business model.
Heard a lot of "we're focusing more on institutions now."
Sometimes that felt more like cope than a strategy backed ou've identified real institutional demand, amazing! Go after it.
But don't blindly pivot towards the next buzzword just because your previous business model isn't working.
2. The grant-funded era is getting tougher.
If your project historically relied on grants but doesn't directly contribute to CROPS, funding seems increasingly difficult to secure.
Speaking as someone who built a company that was heavily grant-funded in its early days: this transition isn't easy, but it's necessary.
My takeaway: start thinking like a sustainable business. Build something valuable that others (apps, ecosystems, institutions, agents, etc.) are actually willing to pay for.
3. It's not just crypto that's changing.
AI is fundamentally changing how digital businesses operate, including established revenue models like advertising.
If your business is struggling to adapt, remember: pretty much EVERY digital business is going through massive changes right now.
4. Ethereum is doubling down on its core values (CROPS).
Of the five priorities, I personally think post-quantum security is the most important, followed by privacy.
Good to see a clearer focus on the fundamentals.
5. Ethereum onboarding needs work.
We talked to lots of students at our growthepie booth. Many were completely new to Ethereum.
Would love to see a dedicated area at future Devcons focused on introducing newcomers to Ethereum and helping them find their way into the ecosystem.
6. Mumbai delivered!
Great food, great venue, great people.
And honestly, Mumbai was more walkable than many people made it sound (even though infrastructure still has some catching up to do).
I'll definitely be back! 🇮🇳
A few observations, opinions, and some constructive criticism:
1. Institutional adoption isn't a business model.
Heard a lot of "we're focusing more on institutions now."
Sometimes that felt more like cope than a strategy backed ou've identified real institutional demand, amazing! Go after it.
But don't blindly pivot towards the next buzzword just because your previous business model isn't working.
2. The grant-funded era is getting tougher.
If your project historically relied on grants but doesn't directly contribute to CROPS, funding seems increasingly difficult to secure.
Speaking as someone who built a company that was heavily grant-funded in its early days: this transition isn't easy, but it's necessary.
My takeaway: start thinking like a sustainable business. Build something valuable that others (apps, ecosystems, institutions, agents, etc.) are actually willing to pay for.
3. It's not just crypto that's changing.
AI is fundamentally changing how digital businesses operate, including established revenue models like advertising.
If your business is struggling to adapt, remember: pretty much EVERY digital business is going through massive changes right now.
4. Ethereum is doubling down on its core values (CROPS).
Of the five priorities, I personally think post-quantum security is the most important, followed by privacy.
Good to see a clearer focus on the fundamentals.
5. Ethereum onboarding needs work.
We talked to lots of students at our growthepie booth. Many were completely new to Ethereum.
Would love to see a dedicated area at future Devcons focused on introducing newcomers to Ethereum and helping them find their way into the ecosystem.
6. Mumbai delivered!
Great food, great venue, great people.
And honestly, Mumbai was more walkable than many people made it sound (even though infrastructure still has some catching up to do).
I'll definitely be back! 🇮🇳
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CROPS -> @ethbeat_org
L2BEAT is now ETHBEAT.
5+ years of keeping L2s accountable, now extended to privacy, interop, staking and beyond. One goal: transparency on the guarantees users get on Ethereum.
Thank you to the community that got us here. The next chapter starts today! x.com/i/article/2117…
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Devcon day #2
We already had our first @growthepie_eth booth visitors, make sure to come by today if you want to chat data!
We already had our first @growthepie_eth booth visitors, make sure to come by today if you want to chat data!
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👀👀
ETH is the asset that will secure the future.
growthepie.com/eth
▸ Productive ➡ Yield
▸ Scarce ➡ Store of Value
▸ Trusted ➡ Collateral
▸ Reliable ➡ Bearer Asset
▸ Useful ➡ Digital Oil
▸ Available ➡ Freedom Tech
Everything ETH on one page - more to come!
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State of Crypto October 2026
- Prediction markets
- ETH
- Stablecoins
- Basic Trading
- Prediction markets
- ETH
- Stablecoins
- Basic Trading
Weekly apps recap 🥧 (19–25 Oct)
▸ ETH active addresses nearly doubled to 4.9M (+95%)
▸ 1,092 apps active across Ethereum Mainnet + L2s
▸ 42% (456) on 2+ chains, up 22 on the week
▸ Polymarket led on transactions (14.5M) and fees paid ($299k)
Explore the app:
growthepie.com/applications
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After the fee surge on Sept 4th, the team adjusted the gas pricing and fees came down significantly.
On Sept 4th, the median transaction cost was $0.248! People were willing to pay that much to get their transactions through.
In total, $8.36M were collected in fees that day.
On Sept 4th, the median transaction cost was $0.248! People were willing to pay that much to get their transactions through.
In total, $8.36M were collected in fees that day.
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Uniswap was the most used application by share of transactions with 14.6%
and Relay pocketed the most gas fees.
and Relay pocketed the most gas fees.
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. @RobinhoodCrypto launched with a strong first quarter!
- almost 800M transactions
- over $50M in gas fees paid (that's 21K ETH)
- Stablecoin supply grew to $1B+
more here ⬇️
- almost 800M transactions
- over $50M in gas fees paid (that's 21K ETH)
- Stablecoin supply grew to $1B+
more here ⬇️
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great to see these guys working full steam on making Ethereum the best it can be!
& humbled that @growthepie_eth can help with supplying data 🙏
& humbled that @growthepie_eth can help with supplying data 🙏
1/ Ethereum Institutional has a refreshed brand and a new website.
Three months on from launch, we've rebuilt both around the work: helping institutions deploy on Ethereum.
→ A new wordmark, mark and visual system
→ A rebuilt website
→ Deployments: a searchable record of ts on Ethereum and its L2s
→ A dedicated identity for the Ethereum Institutional Forum
Our goal is unchanged: to make @ethereum the foundational layer for institutional finance.
This is an important next milestone for us in building out the institutional interface for Ethereum. More to come on that soon..
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Ethereum Mainnet, Q3 2026:
- 200M transactions processed
- $35M in gas fees paid (@ $0.03 median)
- most successful Layer 2 launch so far
and much more ⬇️
- 200M transactions processed
- $35M in gas fees paid (@ $0.03 median)
- most successful Layer 2 launch so far
and much more ⬇️
🥧 Ethereum 2026 Q3 Report
Another quarter of 100% uptime for Ethereum Mainnet. Dive into all the metrics with our new quarterly report.
growthepie.com/quick-bites/et…
100% free, no sign-up, no BS
PDF with sourcing and selectable text
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Pretty wild - until August 31st, no L2 *ever* flipped Ethereum Mainnet in chain fees on the 7d-average.
Until @RobinhoodCrypto completely flipped the chart and 10x'd it.
Until @RobinhoodCrypto completely flipped the chart and 10x'd it.
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More activity on L2s -> more blob demandy.
Yesterday, a new all-time high in blob demand was reached.
6.69 blobs on average per block.
We are scaling.
Yesterday, a new all-time high in blob demand was reached.
6.69 blobs on average per block.
We are scaling.
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this chart is still one of my favorites - Dencung upgrade, March 2024. Wild how much we used to pay to L2s
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wow, people are really willing to pay quite a bit extra to use @RobinhoodCrypto - median fees often spike well above $0.20. That's significantly higher than fees on Ethereum Mainnet.
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The Ethereum ecosystem keeps on growing and just achieved a new all-time high.
Collectively, Ethereum Mainnet + Layer 2s are now processing 100 MGas/s.
Trajectory? Higher.
Collectively, Ethereum Mainnet + Layer 2s are now processing 100 MGas/s.
Trajectory? Higher.
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Bitcoin vs Ethereum by Weekly Active Addresses
For the past year, Ethereum Mainnet has seen the same or more active addresses than Bitcoin per week.
This data excludes active addresses on Layer 2s, such as Base, Arbitrum, Robinhood Chain, Celo, etc.
For the past year, Ethereum Mainnet has seen the same or more active addresses than Bitcoin per week.
This data excludes active addresses on Layer 2s, such as Base, Arbitrum, Robinhood Chain, Celo, etc.
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Update on the house - we are using the warm and dry days to fully redo the roof.
Almost half of the roof tiles were taken down so far and the beams on the northern side have been reinforced.
Plan is to reinforce all sides and then put the tiles back on.
Almost half of the roof tiles were taken down so far and the beams on the northern side have been reinforced.
Plan is to reinforce all sides and then put the tiles back on.
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Transaction costs on Ethereum Mainnet peaked yesterday during it's 11th birthday - median is still <$1 though 😎
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Happy 11th birthday Ethereum 🥳🥳
Looking forward to the next 89 years before we celebrate the 100 😎
Looking forward to the next 89 years before we celebrate the 100 😎
Happy 11th birthday @ethereum - but wait, there's more!
Join us in celebrating 11 years of Ethereum uptime: growthepie.com/ethereum-ecosy…
11 years of milestones:
▸ 3.6 billion transactions (65% of which are token transfers)
▸ 308.9 million addresses
▸ $20.6 billion in revenue
▸ ecoins (+$14 billion on Layer 2s)
The list goes on - more here: growthepie.com/chains/ethereum
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We have a bunch of dead branches over our driveway. Most removal options were very costly but luckily we found a very cheap and simple one.
Caution, this can be very dangerous!
Caution, this can be very dangerous!
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Very prominent daily sctivity pattern here 👀
Seems like most users have the same activity hours > live in the same timezone.
Seems like most users have the same activity hours > live in the same timezone.
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Thank you! Some of the early stuff I posted was from a few weeks back when I bought the property (roughly 1 month ago).
I hired someone and only prepared everything as much as possible with my small chainsaw.
But since this was close to the building I didn't want to take any risks and I dof my depth here.
The last one needed a removal of a huge branch as well before we could cut it down.
I hired someone and only prepared everything as much as possible with my small chainsaw.
But since this was close to the building I didn't want to take any risks and I dof my depth here.
The last one needed a removal of a huge branch as well before we could cut it down.
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4/5 trees are down 😎
Main task for this week is to make space around the dead trees so that we can cut them down on Friday.
Since the trees are close to the building, we'll have to be a little more careful.
Plan:
- clear path for trees to fall in
- removing lower branches on trees
- using a winch e right direction
- cut them down
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Another piece of eye candy in the house.
This 400kg cast iron oven from Olsbergerhütte.
No idea how old it is but it looks amazing. Cool to see this level of craftsmanship.
This 400kg cast iron oven from Olsbergerhütte.
No idea how old it is but it looks amazing. Cool to see this level of craftsmanship.
Preparing everything for the dead tree removal is going well 🫡
Whenever I walk through the ground floor door I have to stop and smile because I enjoy the rounded door frame + the colored glas window so much.
Crazy to think that the window was open for many years and lots of ivy grew through it
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Preparing everything for the dead tree removal is going well 🫡
Whenever I walk through the ground floor door I have to stop and smile because I enjoy the rounded door frame + the colored glas window so much.
Crazy to think that the window was open for many years and lots of ivy grew through it
Whenever I walk through the ground floor door I have to stop and smile because I enjoy the rounded door frame + the colored glas window so much.
Crazy to think that the window was open for many years and lots of ivy grew through it
Main task for this week is to make space around the dead trees so that we can cut them down on Friday.
Since the trees are close to the building, we'll have to be a little more careful.
Plan:
- clear path for trees to fall in
- removing lower branches on trees
- using a winch e right direction
- cut them down
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Stablecoin supply on @RobinhoodApp chain is currently sitting at $327M - after only 12 days of being live.
This is the fastest growth trajectory that we've seen so far.
This is the fastest growth trajectory that we've seen so far.
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In the last 7 days, @RobinhoodApp:
- generated the highest amount in gas fees out of all L2s with $801,000
- was the highest rent-paying L2 with $4,400
- generated the highest amount in gas fees out of all L2s with $801,000
- was the highest rent-paying L2 with $4,400
You've underrepresented Robinhood's rent paid to Ethereum by a factor of 4x because you used Arbitrum's rent paid.
0.6% of revenue is the correct figure for Robinhood Chain. With the current low price of blobs, 98.5% of that goes to L1 settlement... You may still want this to be u can now reference the correct figures.
See for yourself: growthepie.com/economics
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