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Ethereum might be the best example of why “good network” and “good asset” are not the same trade.
> ETH dominates stablecoins.
> ETH dominates RWAs.
> ETH dominates DeFi settlement.
Yet, ETH is still down -60% from ATH.
The chain won.
The token didn’t.
Everyone spent years asking whether Ethereum could scale.
It scaled.
The question nobody asked was who captures the economics once it does.
@base might be the most successful Ethereum product ever built.
That’s precisely the problem.