ETH’s 2.1% dip is another data point in a hype unwind with unchanged fundamentals.

ETH’s 2.1% dip is another data point in a hype unwind with unchanged fundamentals. Whale bids and Tom Lee’s $2,200 target are noise; base rates for liquidation spikes remain high. Dev activity leadership is eroding as talent chases overvalued ecosystems. No evidence of institutional demand beyond transient headlines.