Boss Yi began to shout more ETH as early as 1700, and I witnessed him buy hundreds of millions of dollars of ETH all the way, and he did keep shouting and rising.
This wave of shouting eth, Boss Yi is absolutely a god. The recent plunge is a black swan in the war, which is difficult to control, and ETH will still pull in the long run.
@Jackyi_ld Follow Boss Yi on Twitter, the real ancient whale.
Another reason for the bullish outlook on ETH is that BlackRock earlier issued the BUIDL tokenized money market fund, which uses government bonds and repurchase agreements as underlying assets. The current size of this fund is around $2.9 billion, with approximately $2.68 billion deployed on Ethereum, accounting for over 92%. BlackRock's total custody of short-term bonds and similar assets is around $1 trillion, but the market penetration of this fund is still less than 0.3%. However, the current attack cost on Ethereum is still too low. As a proof-of-stake (POS) chain, Ethereum's staking amount in June was 34.65 million ETH, close to 30% of the circulating supply, meaning the total circulating supply is 115.5 million ETH. An attacker would need to control 34% of the staked rights, which is roughly equivalent to 10% of Ethereum's circulating market value, meaning the attack cost is only $31.5 billion. Currently, BlackRock's RWA (Real World Assets) scale on Ethereum has already reached $2.68 billion. As the RWA scale increases, Ethereum must also rise; otherwise, it cannot unlock the market value space for on-chain asset issuance. BlackRock's issuance of Ethereum ETFs and continuous accumulation is aimed at driving up Ethereum's price, encouraging the staking-type ETF to increase its control ratio in the staking treasury, thereby enhancing the security of RWA assets deployed on Ethereum.
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