Digital asset treasuries have surged to approximately $135 billion in total holdings, with investment firm VanEck cautioning that Ethereum (ETH) holders face growing dilution risks as the network’s economics shift away from fee-driven yields toward monetary asset status. The warning comes as declining Layer 1 fee revenues coincide with rising ETH dilution for non-stakers, threatening the long-term value proposition for investors who don’t participate in staking. Source: VanEck VanEck Questions DAT Susta ...