🐋 WHALE WATCH: 1. A Comprehensive Technical & Economic Audit of Ethereum (2015–2026). We are witnessing the most ambitious engineering feat in history. From a $18M ICO to a network settling $8T in stablecoins per quarter. Here is the state of the World Computer in 2026. ↓ 2. The Architectural Inflection Post-Merge, ETH is no longer just "tech"—it’s a high-grade financial asset. With the Spot ETFs (July '24) and the shift to PoS, ETH has become the "Internet's Bond." Current Staking Yield: ~3-4% L1 Gas Fees: Down 99% since 2021. 3. The 2026 Roadmap (Glamsterdam & Hegota) We’ve moved past the "Beta" phase. • Glamsterdam (H1 2026): Introduction of parallel processing. Gas limits jumping from 60M to 200M. • Hegota (H2 2026): Verkle Trees & Statelessness. You’ll soon be able to verify the chain on a phone. 4 Transactional Supremacy Don't let the "L2" talk fool you—L1 is a beast. • Dec 2025: Record 2.23M daily transactions. • Feb 2026: 2.41M daily txs (81% YoY growth). The network is processing more volume than ever, but doing it *efficiently*. 5 The Staking Economy DeFi has matured. TVL is healthy at $58B+, but "Total Value Secured" (bridged assets + L2s) is the real metric to watch: $97.5 Billion. EigenLayer & Restaking have created a hierarchical capital structure that didn't exist 3 years ago. 6 Final Verdict Ethereum isn't just "scaling"; it’s specializing. L1 for security/DA, L2 for the masses. With FOCIL (censorship resistance) and ePBS (MEV fairness), the "World Computer" vision is ~55% complete. The endgame is near.