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" ... Convincing crypto users to switch to low-energy alternatives was always going to be a hard sell. However, users now have a more tangible incentive for transitioning to Proof of Stake chains: money. Put simply, Ethereum is expensive to use. Demand for block space, fueled by DeFi and NFTs, has pushed gas prices to record highs. With retail users priced out of conducting onchain trades, which routinely now surpass $100 per transaction, Proof of Stake chains that once lay dormant or under development are starting to gain traction. ... "
" ... “Prior to this correction many of our onchain indicators were in the red, indicating that BTC was trading at a high premium relative to Fair Value. The current correction has brought back a substantial number of our onchain indicators into the green.” ... "