Speaking of Ethereum: We cannot ignore the price, but we also cannot look only at the price. If you've been in the industry long enough, you will know that innovations often appear suddenly and unexpectedly.
I resonate with this statement from Blue Fox @lanhubiji.
It's politically correct to support Bitcoin, but starting from this cycle, Ethereum has become the target of public scorn. Even when I bought ETH, I would be criticized for supporting Ethereum. I find this unhealthy!
We cannot ignore the price, but we also cannot look only at the price. It's normal for price and value to not match, and they will never absolutely match; they will just oscillate between being undervalued and a huge bubble. You just need to know what stage Ethereum is currently in.
I have always emphasized that I agree with all the issues surrounding Ethereum now, but I have never been so pessimistic about Ethereum.
If you've been in the industry long enough and have experienced more than two times of despair and market crashes, when you saw Ethereum drop to 80 in 2018 and heard the endless despair before DeFi entered the market, you know what I'm talking about.
If you've been in the industry long enough, you know that what Blue Fox said is very true. I discussed this in my previous tweet. The reason our CRYPTO circle is fascinating is that CRYPTO is a mysterious and unknown world, constantly changing. We cannot predict what innovations will suddenly emerge in the future; most things just appear out of nowhere. Before ICOs and NFTs became popular, who dared to say they could foresee these things exploding on Ethereum?
We can only trust things that are foundational and have been validated by time, recognized by the world, and connected. The consensus and ecological framework that Ethereum has built over the years are not so easily collapsible. It's rare for a blockchain to endure so many ups and downs without falling, capable of withstanding financial games.
Perhaps the Ethereum community and developers need to continue pushing for technological innovation while attracting more applications and users back to L1 or L2 through economic incentives and ecological construction. There may be disruptive applications emerging from Ethereum; how exactly it will return to its former glory, I do not know.
However, the security consensus and underlying value built by Ethereum are actually the more valuable assets. New knowledge often emerges after connections are made, and new functionalities often appear after functionalities are connected.
The time for Ethereum's innovation has not yet arrived; the fundamentals remain unchanged, only people's sentiments have changed. I will patiently wait!
