Ethereum has a monetary paradox at its core — it behaves like money, yet continues to think of itself as a commodity. This fundamental tension sits beneath many of the challenges Ethereum now faces: its governance model, its long-term sustainability, and the coherence of its narrative. Ethereum today stands as the largest and most dynamic ecosystem in the crypto world. It is arguably the most decentralized project after Bitcoin — though decentralization itself is such a nuanced concept that, ...

Ethereum has a monetary paradox at its core — it behaves like money, yet continues to think of itself as a commodity. This fundamental tension sits beneath many of the challenges Ethereum now faces: its governance model, its long-term sustainability, and the coherence of its narrative. Ethereum today stands as the largest and most dynamic ecosystem in the crypto world. It is arguably the most decentralized project after Bitcoin — though decentralization itself is such a nuanced concept that, ...