Arca's Jeff Dorman calls Vitalik Buterin's ETH store-of-value case misguided
- Severity
- Low
- Sources
- 1
What happened
Jeff Dorman, CIO at Arca, criticised Vitalik Buterin's 8 November X thread arguing ETH should be a store of value rather than a fee-burning token under EIP-1559, saying a store-of-value claim requires ETH to be a currency with use beyond Ethereum. Citing DefiLlama data of about $6.2m Ethereum revenue over 30 days, he valued the network at a couple of billion dollars and estimated about $200bn of a roughly $246bn valuation as social value. ETH traded near $1,930 (about $236bn) on Friday per CoinGecko. Dorman also argued Ethereum could tax apps such as Uniswap and Circle, and called Hyperliquid the only successful layer one.
For experienced traders · Written by AI from 1 source · Wrong?
What to do
- No action needed.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Who and what is in it
Products