🥛$ETH's fees are back baaaby! 📈 We have the charts to prove it...

PLUS: 3 charts, signaling 3 potential trend reversals 🐕                                                                                                                                                                                                                                                                                                                                                                                                                 September 25, 2024 | [Read Online]( 🥛$ETH's fees are back baaaby! 📈 We have the charts to prove it... PLUS: 3 charts, signaling 3 potential trend reversals 🐕 Today's edition is brought to you by [Blockscout]( - the block explorer that’s smoother than your morning milk. Browse dApps and data across 600+ EVM chains, and start your day right. [Explore like never before with Blockscout.]( [breaker] GM. This is Milk Road – the all-in-one body wash of crypto (news, insights, laughs). Here’s what we got for you today: - ✍️ $ETH’s fees are back (just like that) - ✍️ Three charts signaling potential trend reversals - 🎙️ The Milk Road Show: [Can Sui or Aptos dethrone Solana?]( - 🍪 Caroline Ellison was sentenced to two years in prison for her role in the FTX collapse [Prices as of 9:30AM ET. Click here for our Fear & Greed Index]( [breaker] $ETH’S FEES ARE BACK (JUST LIKE THAT) 🤑 “I’m back baaaby!” That’s what Dereck Stevenson (a dude from our high school) yelled – fist raised in the air – while standing proudly atop the kitchen table at our graduation after party. 🥳 The moment held particular weight, ‘cause not 5 minutes before that – Dereck had fallen 10ft through a plate glass window and onto our friend’s mom’s azalea patch. We’re telling you this, because right now Ethereum is giving big Dereck Stevenson energy. $ETH’s fees are back baaaby! 📣 Since[rate cuts were announced on September 18th](, [$ETH]( has made a tidy gain from $2.3k to $2.65k – and all of the increased trading that helped lift prices, has brought fees up along with it. [Source: TokenTerminal]( Which is neat! …but it doesn’t paint the full picture of $ETH’s ‘fee revenue renaissance.’ See, back in March, EIP-4844 launched – [essentially lowering the amount of fee revenue paid in rent to the Ethereum L1, by L2’s.]( There was a big hullabaloo about how “Ethereum’s lowered rent is going to hurt its price.” (Yeah, that’s right: ‘hullabaloo.’ We said it – and we’re standing by it). In the short term, that theory appeared to prove itself out (we’ve all witnessed $ETH’s struggles in 2024). 📉 But it overlooked the bigger picture. Long term, the lowered running costs for L2s meant they could scale more effectively (keeping fees low, even as their user base grew) – which, in theory, would eventually lead to an increase in fee revenue on the L1. With the magic trick being attempted here, looking something like this: $ETH maintains/grows its fee revenue → while L2 ecosystem users transact at lower costs, at scale. And that – right there 👆– is what’s making up the other half of the ‘$ETH fee revenue renaissance’ picture… Transactions within the L2 ecosystem are up – way up – like, ‘breaking all-time highs’ kind of up! 👇 [Source: Growthepie]( While engagement is following suit. 👇 [Source: Growthepie]( Zooming out, what do we have? - Increased fee revenue for $ETH ✅ - Low cost transactions for L2 users, at scale ✅ Add those two things together, and – so far – it looks like Ethereum is pulling off its magic trick. (“I’m back baaaby!” – D̶e̶r̶e̶c̶k̶ ̶S̶t̶e̶v̶e̶n̶s̶o̶n̶ Ethereum). [NOT YOUR AVERAGE BLOCK EXPLORER]( [Meet Blockscout](, the most versatile and smoothest block explorer across 600+ EVM chains, including [Ethereum](, Optimism, Base, Arbitrum, all the Roll-Ups, and many more. Can your block explorer do this? - Data Deep Dives: Make informed decisions with stats covering chain performance, accounts, transactions, blocks, tokens, gas, and smart contracts. - Dappscout Marketplace: Discover and [explore dApps]( safely with security ratings and reviews from verified users. - Daily DeFi Routines: Bookmark favorite dApps, and tap shortcuts to swap, disperse, send payment links, and get gas with minimal clicks. The Swiss Army knife no crypto scout can live without. [Explore Blockscout now!]( [breaker] THREE CHARTS SIGNALING POTENTIAL TREND REVERSALS 🐕 You know that trope in films where a dog will predict danger, and somehow inform the lead character? Dog: *.ears perk up, starts barking.* Lead character: *.eyebrows raise.* “What is it boy? Trouble at the old mill??” Yeah, well – we’re that character, and these charts are the barking dog. Check this out: 1/ [$BTC]( looks like it might be in the midst of a good old fashioned ‘vertical accumulation.’ [Source: @nestayxbt]( 2/ Funding rates indicate futures traders may be about to flip bullish on $ETH [Source: @cryptoquant_com]( 3/ [Solana]( is making its seventh attempt at breaking out of this long term wedge pattern [Source: @KyleReidhead]( *.Eyebrows raise.* “What is it boy? Banana zone approaching??” 🍌 [breaker] CAN SUI OR APTOS DETHRONE SOLANA? 👑 [Sui and Aptos are on one helluva tear right now!Â]( (Pumping 44% and 38.9% respectively, over the past 7 days). So in today's episode of [The Milk Road Show](, we brought in Milk Road’s Head of Research, [Kyle Reidhead](, to discuss whether Sui and Aptos have what it takes to challenge Solana's dominance in the market. In this episode, we grill Kyle for answers on questions like: - Are either Sui or Aptos the next Solana killer? - Who will win in terms of price in this cycle? - Why is Sui going up in price right now? Click below to listen now! 👇 [YouTube]( | [Spotify]( | [Apple Podcasts]( [breaker] BITE-SIZED COOKIES FOR THE ROAD 🍪 [Caleb & Brown – Your 24/7 personal crypto broker.]( Get expert help with buying, selling, swapping, and securely storing your crypto, with dedicated support whenever you need it. * [Caroline Ellison, former CEO of Alameda Research, was sentenced to two years in prison for her role in the FTX collapse.]( Her cooperation with prosecutors, including testifying against Sam Bankman-Fried, led to a reduced sentence​. [Visa will launch its Tokenized Asset Platform (VTAP) in 2025, enabling banks to issue fiat-backed tokens on the Ethereum blockchain.]( This initiative aims to improve transaction privacy and security​. [Join forces with the Milk Man!]( We’re looking for a Twitter Specialist + Content Creator who can mix crypto knowledge with top-notch tweets. Think you’re the one? [Apply today and let’s get this show on the road!]( *this is sponsored content [breaker] MILKY MEMES 🤣 [Source: @naiivememe]( [Source: @AutismCapital]( [Source: @boldleonidas]( [breaker] RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( ROADIE REVIEW OF THE DAY 🥛 VITALIK PIC OF THE DAY [breaker] DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. [tw]( [ig]( [yt]( [tk]( [in]( Interested in reaching smart readers like you?  [Sponsor Milk Road]( Update your email preferences or unsubscribe [here]( © 2024 ImpactDM Inc. operating as Milk Road 1257 Dundas St W Toronto, Ontario M6J1X6, Canada [Terms of Service](