In summary its going great!
Below is a screen shot from the site https://ultrasound.money/, this is a great site to watch some of the monetary and usage aspects of the Ethereum main chain.
What you are seeing in the above chart is the net issuance of the Ethereum blockchain starting from its move to proof of stake, as reminder check out this post… Ethereum Merge. There is way too much to talk about here for a single short post, but I just wanted to illustrate the changes in the market dynamic. Over the last 46 days the Ethereum blockchain has only increased its total issuance by a .016% (about 2000 Eth total so far) on an annualized basis. We are very close to the chain actually shrinking its total issuance.
If the merge had not occurred something like 500,000 ETH would have been issued in the last 46 days, that is something in the range of $750,000,000 of assets that would have had to be absorbed by the market. The price hasn’t done much in the last 46 days, but this process probably won’t be seen for multiple more months, not to mention all the other compounding factors that could help or hurt the asset in that period of time, many of which are more important than this. But I find it exciting to see a programable asset in action, the behavior of this thing was purposefully changed and we can monitor its output on a real time basis.
As a side note to the market in general, I’m getting more and more sure that we have a long road ahead of us until the next crypto run occurs. There is a lot of issues to work through, new things need to be built and tested, the macro environment needs to clear up. I’m settling in to a relaxed slow accumulation stage, buying a little here and there and trying to decipher where the market may end up in the end, right now there seems to be a titanic battle between Ethereum, Solana, and Cosmos (yes and many others), all pursuing different aspects of what makes this technology so awesome. My investment plan at this point is to hold approximately the same % of each token that is outstanding, that way if one of these truly becomes the one chain to rule them all I will capture the same value no matter which one it is.