Ethereum (ETH)

For the longest time, I used to think 50% unique NFT holders was the gold standard. More people holding just one piece, more diversity of owners, more organic reach. A lot of people throw around numbers when talking about “healthy” NFT distribution, but the truth is: there’s no universal rule. It depends on supply size, chain dynamics, mint design, whales, and what the collection is trying to be. But here’s what we do know from industry research: A higher unique holders ratio (unique wallets ÷ total supply) = healthier distribution. Lower concentration means less fragility, fewer whale dumps, and a stronger community fabric. This metric is literally used in NFT analysis, whale risk reports, and collection health scoring. Look at @itsafwog (40%) and @0n1Force (42%) and @goodvibesclub (23%) and @quillsadventure (34%) from Somnia Network (1/2)

truly healthy range is somewhere between 30% to 60%. And for most PFP or community-driven drops, the sweet spot is around ~40% to 50% Above 50% = extremely well distributed. Around 40% = still very solid and stable. Below 30% = higher concentration risk, whale dominance, and weaker community dispersion. If your goal is community reach, broad social identity, or long-term stability, then aiming for ~40% unique holders is actually great. That’s where a lot of thriving collections land, especially with smaller supply or more active ecosystems. But how many whales are in there? and how many of them will dump, look at @BoredApeYC (55%) and @pudgypenguins (56%) and @ChimpersHQ (29%) would that mean there is more risk with Chimpers? Perhaps not, but it does feel that the hype and community is weaker, perhaps yes... but we need to acually look at the number too (2/3)

The bigger thing is concentration: You can have 40% unique holders and a very safe distribution or 40% unique holders and 10 whales holding half the supply. Those two collections might look identical on paper but are wildly different in risk profile. look at @cryptopunks (38%) and @v1punks (22%) So the question isn’t “is 40% good?” It’s: “Is the distribution balanced enough to support a real community?” And keep everyone happy with the floor relative stable... I think v1 punks is strong community, i dont hold one persay, but i do see v1 in events more than the original punks.. In most cases, i think yes 40% is legit. It’s healthy, realistic, and lines up with how successful collections actually behave. (3/3)

1/ What is the Ethereum Fusaka upgrade? What is its impact on $ETH price? Recently, a chart has been circulating showing “blob gas jumped from 1 to 14.7 million wei, a 15‑million‑fold increase.” “Huh, are L2 fees dead?” It’s easy to think that, “But it’s just that the blob, which was almost free until now, finally got a proper price.” A clear explanation below 👇 https://t.co/sN7a1J65jh

2/ 1️⃣ What is Fusaka? 2️⃣ What exactly is a blob? 3️⃣ Why did the “blob gas 15‑million‑fold” event happen? 4️⃣ Why is this price increase justified? 5️⃣ Then why is it calm now? 6️⃣ How does it affect ETH’s price?

2️⃣ What exactly is a blob? A blob is a “temporary data warehouse” that L2 uses to write transaction data to L1 (Ethereum). ✅ Much cheaper than previous calldata ✅ For L2, it’s like a “massive, ultra‑cheap external hard disk.”

Thus, it ends the state where “L2 can use L1 resources almost for free.”

1️⃣ What is Fusaka? In short, Fusaka is “an upgrade that realistically organizes the money flow of Ethereum’s base layer (L1) and the L2s operating on top of it.” Especially important is 【setting a proper usage fee (minimum price) for the “blob” data storage used by L2】

As a result, what was “1 wei (almost free)” jumped to a “properly priced fee.” On the chart, it appeared as a flashy spike of “blob gas 15‑million‑fold!”.

3️⃣ Why did the “blob gas 15‑million‑fold” event happen? Before Fusaka: ✅ blob gas fee was stuck at nearly 0, at 1 wei ✅ effectively “L2 could use the warehouse almost for free.” With Fusaka the rules changed: ✅ “We can’t keep it free forever.” ✅ “Set a minimum fee for blob in line with L1 gas fees.” Thus the design.

However, there are costs behind the scenes. ✅ Verification of KZG proofs ✅ Node storage and network bandwidth etc., L1 side isn’t running for free either.

4️⃣ Why this price increase is correct There are three key points👇 ① Network protection ✅ Proper pricing curbs unlimited abuse of blobs ✅ Prevents overload of network bandwidth and disks → A pricing design akin to “raise fees to control the queue.”

② Combination with PeerDAS ✅ Fusaka also introduces PeerDAS (data sampling) ✅ Even with the same safety, the number and total capacity of blobs that can be handled increase manyfold → While the cost per blob rose, overall it’s a scale‑up structure.

The key point is that the 15‑million‑fold figure only looks that dramatic because the original price was absurdly low. In absolute terms, the current blob gas is still “quite cheap.” We simply moved it from the “abnormal 1 wei” to a “reasonable price range.” It’s less about killing L2 and more about re‑tagging it with a fair price.

5️⃣ So why is it calm now? In the first few days, ✅ the fee rules were switched to the new specification all at once ✅ L2’s configuration (how much blob to use) hadn’t caught up This gap resulted in fees being excessively high.

Of course, this is a bullish scenario assuming “L2 growth continues smoothly”, and blob begins to have a substantive impact on ETH’s cash flow.

③ Benefits from an ETH holder’s perspective (increased burn) A rough estimate: ✅ If this design were in place from June 2025, blob‑derived burns could be about 8× higher. ✅ In Bitwise’s model, by 2026, with increased L2 activity, blob‑gas‑derived burns could reach 200‑400k ETH annually. → Blobs could account for 30‑50% of total burns.

■ Mid‑to‑long term: ✅ L2 usage will increase ✅ Each time, blob fees flow into the Ethereum core ✅ The base‑fee portion is burned, nudging ETH supply downward.

6️⃣ How does it affect ETH’s price? Briefly👇 ■ Short‑term: ✅ It’s not a clear‑cut pump like “Fusaka launches and ETH instantly multiples”. ✅ Price will continue to be driven by macro factors such as - interest rates - USD liquidity - BTC and ETF flows.

Afterward, L2 “adjusted usage because it was too expensive,” and Ethereum’s mechanism (the EIP‑1559 logic that automatically lowers gas fees when demand is low) kicked in. As a result, “it spiked once but has now settled into a realistic price range,” converging to a new common‑sense range.

Summary ✅ The 15‑million‑fold blob‑gas spike isn’t a signal that L2 is dying; it’s simply that “the previously near‑free blob finally got a proper price”. ✅ Fusaka is an upgrade that enables proper invoicing of L2. “Consequently, it subtly boosts ETH’s long‑term earning power,” and can be seen as an update to ETH’s business model.

In other words, the picture is: ✅ Pre‑Fusaka ETH earned by “gas fees on its own chain” ✅ Post‑Fusaka ETH becomes an “infrastructure that can collect usage fees from the overall economic growth of L2” so it’s an upgrade that gradually shifts its character in that direction.

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