As Ethereum moves to proof of stake, the proof of work infrastructure won't just disappear.
Many will move to Ethereum Classic, as it is the original Ethereum protocol without developer interference and chain rollbacks.
All it takes is for one popular TikTok trend to start saying that you can buy Ethereum at sub $100, $200 or whatever the price is, and people will pile in.
If this is fundamental analysis maybe mention how much better the fundamentals are? On chain dapp development and useage has skyrocketed over the past two years, especially the last year. Also with new grant money getting issued encouraging new development and existing projects to migrate, useage will continue to rise. Add in unstoppable style domains (I own 😎.etc and payme.etc lol) a new play to earn game and animated NFT collection (Classic Rewards) the future is lo looking very bright despite macro headwinds.
Hash rate and number of daily transactions remain elevated at or near record highs.
Hash rate and number of daily transactions remain elevated at or near record highs.