Ethplorer’s Aleksandr Vat Says Ethereum’s Altseason Already Happened
BeInCrypto
Aleksandr Vat of Ethplorer argues that altseason has occurred within balance sheet compositions rather than being reflected in traditional token price charts.Summary
Aleksandr Vat, Head of Business Development at Ethplorer, argues that Ethereum's "altseason" has already occurred, shifting from price charts to balance sheet compositions. By introducing an Aggregated Ethereum Rich List that accounts for total USD value—including ERC-20 tokens and stablecoins—rather than just ETH, Ethplorer reveals that 66% of ecosystem capital now resides outside of ETH. Vat emphasizes that Ethereum has transitioned to an entity-centric system where smart contracts and liquidity hubs control significant wealth, and he warns that investors should focus on capital composition and liquidity risk rather than traditional market cap metrics.
(Source：BeInCrypto)