Added to my
$BMNR bet this week and will buy the final tranche on Friday. Also adding to
$SBET based on the pedigrees of Chalom and Lubin (The "TWO Joes")
Right now,
$ETH sentiment is a mix of hopelessness with many proclaiming the chain and its native token s as failed projects. Understandable given the price is 25% LOWER over the past 5 years. It's really hard to find a more frustrating performer over that time frame. Many Early OG Whales have rung the register swum off in other directions. Tom Lee booked $10 BILLION in losses providing that liquidity. The supply/demand equation is beginning to shift as more
$ETH is locked up via staking.
There are some POTENTIAL positives:
1)
$BMNR BitMine Immersion Technologies, Inc. (NYSE: BMNR) is making waves after FTSE Russell preliminary lists from late May included the Ethereum-focused treasury and mining company for addition to the Russell 3000 Index. The final changes are set to take effect after the market closes on June 26
2) CLARITY ACT PROGRESS The Senate Banking Committee advanced the bill with a 15-9 bipartisan vote. It was officially placed on the Senate legislative calendar, but must clear a floor vote before a month-long August recess. I'd put the odds at 50/50 for passage prior to midterms. if it passes, volume in the space will explode.
3) MARKETING EFFORT ETH community FINALLY understands technical prowess alone is insufficient. I expect we see a coordinated marketing effort likely financed by a small transactional "tax". : Groups like Etherealize have emerged to educate Wall Street, drive corporate application builds (such as proprietary Layer 2s), and advocate for
$ETH as a superior institutional monetary asset.
So, the asset is hated from a sentiment point of view(look at RSI) YET real world adaption is accelerating. Joe Lubin makes the case here:
youtu.be/WIcVbdEw6uU?si=xWtFโฆ
Watch the video, not hype just facts from a VERY SMART man.
So, I continue to hold my nose and ass to my stack,
GLTA
WST
@fundstrat @ethereumJoseph @joechalom