#ETHMarketWatch
All eyes are on the Merge countdown, but the real ETH evolution is happening in the shadows.
Forget "ultrasound money." That's a distraction.
The real story is Post-Merge Reframing:
· The Triple-Point Asset: ETH is morphing into something unprecedented: a consumable (gas), a staked yield-bearing instrument, and a store-of-value collateral. No other asset has this triple-point utility.
· Institutional On-Ramp, Not Exit: Post-merge isn't about selling pressure from miners. It's about the structural shift that makes ETH palatable for pension fund models—predictable yield, negligible emissions.
· The Dencun Blur: With blob data, L2s become hyper-scaled, abstracting gas from users. The narrative shifts from "ETH is expensive to use" to "What are you building on the ETH superhighway?"
Stop watching the Merge clock. Start watching the staking ratios and L2 TVL.
The asset is being fundamentally revalued by its new mechanics, not its old hype.
What’s the most underrated post-merge metric to watch?
