At first, $ETH new technologies and stories were like treasures hidden in the corners, as no one understood them, presenting huge profit opportunities. But once this secret is known to everyone, the opportunity disappears, so people always focus on the new, while the old is left behind, and the blockchain industry is no exception.
Those who tasted success at the beginning are like miners who struck gold, attracting more people to come and pan for gold. Everyone is afraid of missing out on a good opportunity to make money; this fear of missing out has intensified the trend of making profits. Major exchanges like Binance and OKEx are eager to list new tokens, and venture capital firms are closely following, with a huge influx of funds flowing into new projects. Suddenly, new projects are popping up like mushrooms after rain.
In this wave, Ethereum became the star of the market with its hard power and wide application scenarios. Everyone rushed to lock ETH in various applications, forming a virtuous cycle, making ETH appear to have the greatest appreciation potential. However, this prosperity relies on the overall environment for support. Now that the market environment has changed, we need to re-examine blockchain.
Which blockchain is the hottest? Which one makes people envious with profits? Which has new opportunities? These are all questions we need to care about.
In fact, as the market continues to develop, Ethereum's competitors are increasing. Some emerging blockchain projects have won users' hearts with their unique skills and innovative application models. These projects not only attract a large number of projects and venture capital but also drive up the demand for native tokens. If Ethereum is no longer the market leader, it’s not surprising that its price cannot rise.
Of course, the strength of Ethereum cannot be underestimated, but the problem is that its technological updates and market cycles are somewhat out of sync. There seems to be a broken link between infrastructure development, application implementation, and the profit effect, failing to form a close connection. Although Layer 2 scaling solutions have alleviated congestion on the mainnet to some extent, they have not brought about the prosperity that everyone expected. While the cost of launching chains has decreased, large-scale applications are still far from being realized.
Although the NFT boom in 2021 brought temporary benefits to Ethereum, it felt more like a result of market hype rather than the efforts of developers. A good story can indeed make technology more imaginative, but if the story is over-told, it’s like blowing a bubble that will eventually burst. Nevertheless, new stories will continue to emerge, driving the market forward.
For Ethereum ETFs, the problem it faces is that some retail investors do not understand it. Everyone understands Bitcoin as digital gold, but why does ETH increase in value? Where does its importance lie? These questions are not easy to answer. This makes some traditional investors cautious about ETH, feeling that its price is too high. Ethereum's price may need to adjust or find a new way to assess its value.
Recently, I plan to ambush a potential coin that is ready for a breakout; doubling it should be quite simple. At the same time, I also plan to find some potential coins to hold until the end of the year, where an expected return of more than 10 times is not a problem. If you want to keep up, like and comment, and I will share for free.