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Yesterday, The DeFi Report released its Q2 Ethereum analysis, revealing a network in transition.
While protocol revenue and onchain fee activity declined due to upgrades like Pectra and the growing usage of Layer 2s, the data also points to something more significant — Ethereum showing clear signs of evolving into a store of value (cue the Blue Money Gospel).
Here are five key takeaways from the report that frame ETH’s shift from utility token to monetary asset. 👇
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