Sorry boys, I’m out.

I have been a big believer in Ethereum and I still am but holding on to the token for financial gain has been incredibly frustrating. I believe in the utility of Ethereum and it was what it first drew me to it. I have been in ETH since mid 2020, my cost average being $1400, I owned 42 shares, but I just sold all of it an hour ago. Its still kind of surreal knowing I sold all my ETH since I've held it for 6 years. I know people are going to ask my why I sold?

1. ETH transaction volume is at record high but its gas fee revenue is at $6 million a day vs $32 million a day a couple years ago. This is hugely beneficial for the utility of ETH as the gas fees are incredibly cheap now but the glaring disadvantage is the record volume of transactions are not creating greater revenue, in essence the fees have become "too cheap" even with all of this volume theyre losing revenue.

2. We are all seeing how ETH will be pushing the new tokenization wave, which is all very impressive but it suffers the same problem as point one, ETH is becoming a "utility" token, so essentially for tokenization you dont need to hold the ETH token, you can use its tech for cheap, you never need to buy the token itself. A lot of tokenization is actually happening on Layer 2 networks like Base, Polygon, and Arbitrum. Some of these L2s have their own gas tokens entirely. So you can tokenize assets on Ethereum's ecosystem without even needing ETH for gas fees, you use the L2's native token instead, which cost fractions of a fraction of a cent.

3. We are hearing about record institutional buying of ETH, yes thats true but look at how theyre buying ETH, a lot of that buying is not on the market. They're doing over the counter buying which is artifically suppressing the price of ETH essentially screwing us retail over and over.

4. I see better opportunities elsewhere, my AI and semiconductor holdings are soaring while ETH has become the real life version meme of a "stablecoin", I feel that I can use the capital in other assets that will offer greater returns. Im in my mid 40s, I want to leave my kids a nice nest egg, I cant be doing that still hoping for a breakout in ETH price action.

5. ETH etfs, these are a double edged sword, the positive is that etfs will drive ETH token price up, the negative is volatility will drastically go down, institutions will not allow previous volatility as we have seen which means the CAGR of ETH will be stabilized. We saw the same scenario with BTC etfs ironically BTC under normal market condition periods BTC volatility is below the SP500 due to institutional pressure which means a lower CAGR, I expect the same to happen to ETH with the etfs. Overall ETH token will go up in price but I dont see a future CAGR that will even beat the SP500 in all honesty.

Best of luck.