For over five years, Ethereum TVL has quietly acted as a valuation floor for ETH. If that relationship holds, app-layer growth matters more than narratives push Ethereum TVL toward $1T, and that number effectively underwrites the asset powering the system.
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For over five years, Ethereum TVL has quietly acted as a valuation floor for ETH. If that relationship holds, app-layer growth matters more than narratives push Ethereum TVL toward $1T, and that number effectively underwrites the asset powering the system.