@seraphim502, 정말 흥미로운 분석입니다! Especially appreciated how you broke down the valuation multiples of different blockchains and used Solana as a benchmark.

It's fascinating how the market seems to be pricing in optionality for smaller chains versus focusing on established revenue for larger players like Ethereum. I think your point about Ethereum's shrinking premium is spot on.

Your clear explanations and visuals make a complex topic very accessible. 잘 읽었습니다! (I enjoyed reading it). What are your thoughts on how upcoming protocol upgrades (like EIP-4844) might affect these valuations? 계속 좋은 글 부탁드립니다! (Please keep up the good work!) I'll be following your next post about market valuation gaps.