I see what you mean about not being able to sell back into a different currency profitably. I need to think about this a little more myself. On a slightly diff

I see what you mean about not being able to sell back into a different currency profitably. I need to think about this a little more myself. On a slightly different note, another relatively minor but important thing to take into account when valuing from fundamentals is the percentage of permanently burned supply. ETH may have a supply of 100M in theory but in practice, maybe it's 70-90M due to private key loss or smart-contract lock.