Matt Cannon

@ThoughtfulSaint @Nero Yeah.. the one that doesn’t say God is an exalted man. You should read it sometime.

This week, our lead crypto analyst @m0xt_ sold the last of his $ETH. He's still bullish on Ethereum as a network. He just doesn't believe owning the token is how you make money from it anymore. And one of his own teammates thinks he's got it all wrong (save this). @m0xt_'s case starts by splitting two things people usually treat as one... → Ethereum winning as a network is one bet. → $ETH price going up is a separate bet. He's confident in the first. He's no longer sure the second follows from it. His first worry is about people. Top engineers have been leaving the Ethereum Foundation. @m0xt_ thinks having so many of the best people in one place was a big reason serious investors got comfortable buying $ETH. When a large fund does its homework on Ethereum, talent is a green light. Thin it out, and the signal isn't as strong. But the main reason is all about price... $ETH is down more than 60% from its 2025 high (~$5,000). With a stock, a drop like that on a healthy business is @m0xt_'s cue to buy more, because he knows what the company is worth. $ETH gives him no such anchor. Nobody can say what a fair price for it really is. So a 60% fall tells him nothing useful. It hands him no edge and no reason to add. He's open to coming back, on one condition: The market has to start valuing $ETH the way it values $BTC. Right now most people price $ETH like a company, off the fees the network earns. He thinks that's the wrong way to look at it. He wants $ETH valued as money, the way gold and Bitcoin are prized for being scarce and trusted, not for any cash they produce. The day the market treats $ETH as a better Bitcoin, he buys back in. That's one way of looking at it all... Within the same analyst team, looking at the same facts, John Gillen @BitcoinJesusETH has landed on the opposite call. He isn't selling a single coin. Hell, he's locking it up in staking contracts. John's point is that it's far too early to declare the "ETH is money" idea dead. We're still near the very beginning of crypto going mainstream. Calling the game over now, he says, is like calling American self-government a failure in 1781, back when its first rulebook barely worked. Big things take time to settle. And on price, John pushes straight back. You can't value Ethereum off network fees, he argues, because it was never a normal company. The market already pays a premium for $ETH. He says that premium is there for real reasons, and judging $ETH on fees alone misses what it actually is. John's view on $ETH is binary: Either this whole asset class grows into the tens or hundreds of trillions of dollars, or it goes to zero. John sees no world where $ETH just sits between $200-300B forever. And the way he reads the data, the arrow points up: Network use is near record highs, fees are near record lows, the line of people waiting to stake keeps growing, and the Foundation is still shipping upgrades. Most of today's gloom, he thinks, is just fatigue after a long stretch of $ETH lagging everything else. This is the short version of both sides of each argument. @moxt_ is selling and reallocating. @BitcoinJesusETH is taking his $ETH to the grave. To see exactly where @m0xt_ is reallocating, and John's 'ETH hoarding' roadmap - click the link in our bio and join Milk Road PRO (7 days for $1): @MilkRoad

[@opinion] For most of the past 2 years we’ve had a K-shaped economy with an AI boom largely offsetting cyclical weakness elsewhere in the economy, but a continued AI boom is swamping those cyclical soft spots and increasing overheating risks: bloomberg.com/opinion/articl…