Why I Dumped My ETH—Even at a Massive Loss

Crypto’s core narratives are clear:

1. BTC dominates as an asset—high returns, high Sharpe ratio, macro hedge.

2. ETH was supposed to represent innovation and productivity. But let’s be real—it’s failing.

Look at OpenAI—real innovation with ChatGPT that changed how we work and interact. ETH? Just more infrastructure, wallets, and Layer 2s that mean nothing to regular users. No killer app, no real-world utility, just endless hype.

Institutions aren’t interested—BTC outperforms, and even tech stocks beat ETH in risk/reward. Layer 2s only care about themselves, and Vitalik avoids commercialization like the plague. Without real utility, Ethereum risks becoming irrelevant, stuck in its own bubble.

When will I buy back ETH? Only if real innovation happens—and not just fancy updates. For now, it’s clear: if ETH doesn’t adapt, the next big blockchain will.