August 22, 2024
Recently, Vitalik Buterin posted on social media, listing several views and details of "Ethereum has become more powerful". I will repeat them here for you to see. Transaction fees on L2 are as low as $0.01, and two EVM L2s (ARB and OP) have entered the first phase. The user experience of wallets has been greatly improved. More powerful and mature ZK tools make the work of application developers easier. Account abstraction routes have become clearer. The decentralization of staking remains stable. The identity/reputation/credential ecosystem has become more powerful. There are some others, which I will not list in full.
When we pay attention to the value of a project, we often directly link it to price performance. Ethereum's price trend in the past year has not been as good as that of several other mainstream targets, so it is widely criticized. But if we compare it slightly, the rise of Bitcoin is mainly due to capital recognition (ETF passed first), and the so-called BTC second layer is still in the bullshit stage. The rise of BNB is mainly due to the continuous empowerment of new issuances, and the BSC ecosystem has been inactive for a long time. The rise of SOL is mainly driven by MEME and capital, while MEME is still in the coin issuance stage, let alone the development of the ecosystem.
The development of Ethereum is indeed slow, but the L2 layer is flourishing, and the development of abstract accounts and the exploration of account reputation tracks are still at the forefront of innovation. We cannot deny everything we have done just because there are no substantive explosive products in the innovation. Of course, the ecological development of Ethereum currently lacks disruptive innovative products like DeFi, but it can be seen that it is still in the stage of basic track construction. In addition, the price of Ethereum is only slightly worse than that of several bright leaders. Looking at the price performance of Ethereum alone, I think it is completely acceptable.
In terms of market conditions, Ethereum fluctuates around $2,600, while Bitcoin is around $60,000. We can only wait for a new breakthrough. According to previous judgments, fluctuations are beneficial for digesting low-priced chips. Since we have experienced a wave of sharp declines before, if this sideways period is long and the maintenance cycle is 1-3 months, then we can operate with the bottom fluctuation market, including cottage. I have asked everyone to buy a batch of stocks at the bottom of the previous big drop. After another 1-2 weeks of fluctuations, you can buy some more.
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