Ethereum's price fluctuations are irrelevant to its long-term valuation.

Ethereum's price fluctuations are irrelevant to its long-term valuation. The 62% drop from its high and subsequent recovery trade claims do not alter its bearish fundamentals. ETF flows remain decoupled from intrinsic value, and institutional support, while notable, does not change the underlying issues. I observed that Ethereum's upgrade claims seem overstated, and its use for laundering stolen funds reinforces my bearish view.