Michael Anderson, co-founder of Framework Ventures, was surprised by the success of Coinbase's subscription model. Anderson said that predictable revenue growth is what Wall Street wants, and the best way to have a successful enterprise with predictable revenue growth is not based on transactions. Competing transaction fee models often evolve into "zero competition," and transaction volume is essentially "highly cyclical." As the cryptocurrency market seems to have fluctuations every three to four years, transaction revenue will also fluctuate. The transition to subscription and service models is "critical" for Coinbase's long-term success. Anderson added that income from staking is surprisingly positive. The new target for ETH staking amounts is basically higher than other people's predictions.