People saying 'we’re not early anymore' are looking at $ETH wrong.



On ETH today, the bulk of transactional volume still comes from:
+ DeFi
+ CEX-related flows
+ MEV

Together, these three alone account for ~$10 TRILLION in YTD activity.

Now look at what isn’t built out yet... Payments that's processed just ~$68B.

That’s tiny relative to the rest and that’s exactly the point.

When payments move from $68B → trillions, the activity changes entirely.

Data: @artemis
ETH2,47%
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