I finally figured out why ETH is in such a sluggish state:
Firstly, the holders of ETH have excessively strong financial resources, and their operating mode is too "laid-back." These holders possess a large amount of ETH but are not actively pushing the price up, resulting in a lack of sufficient market vitality to drive ETH's price upwards.
Secondly, most participants in the ETH ecosystem are practical dreamers and idealists.
Take POLYMARKET, a killer application, as an example. Its emergence should have been a significant positive, theoretically boosting the price.
However, the reality is that the price performance remains poor, fundamentally overturning the logic that super applications can drive up coin prices.
It's important to know that price increases require substantial buying support.
Can we still expect those tech guys attending Devcon to continuously buy ETH every day to support the price? Obviously unlikely.
To increase ETH's price, strategies must be in place to attract "old money" with substantial funds.
For instance, we need good-looking, articulate salespeople to directly seek potential buyers. There should also be active cooperation with various sales channels, as well as collaboration with big shots in traditional finance and KOLs (Key Opinion Leaders) for promotion.
Looking at the success path of BTC makes this clear.
Without the active participation of MicroStrategy and Michael Saylor, and the support of BlackRock and those mining companies listed on the US stock market, how could BTC reach its current price level? Follow me to view the homepage introduction and start your wealth journey!
However, the current ETH Foundation is not making efforts in this direction, still entangled in its own ecosystem, technology, and ideological issues.
😇 Of course, from another perspective, the current shortcomings of ETH also imply that it has enormous potential for the future.
Especially after the new administration took office, at least it has brought more opportunities for ETH, and we can only comfort ourselves this way.
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