"Creator's Say" is a dialogue column launched by Foresight News, where we pose questions to outstanding creators selected each month on hot market topics and compile the collected results into an article, gathering a wide range of opinions and uncovering deeper reflections.
Written by: Foresight News 2024 October Outstanding Content Creators
Organized by: Foresight News
Since 2022, Ethereum's price performance has remained sluggish, and this veteran public chain, which has gone through three cycles, seems to be stuck in development. Doubts about the Ethereum Foundation, Vitalik's sell-offs, negative comments on DeFi, poor performance of ETH ETFs, and Ethereum's absence from emerging trends have led to a flood of negative information, with increasingly vocal criticisms of Ethereum. In the midst of FUD, is Ethereum's future still bright?
This episode of 'Creator's Say' is themed 'Caught in a FUD Dilemma, Is Ethereum's Future Still Bright?' We invited YBB Capital, TokenInsight, Coordinates Snow, WOO, and 'Blockchain Insights,' all of whom made the Foresight News list of outstanding creators in October 2024, to join this discussion.
Surrounding the topic of the 'Ethereum Dilemma,' we posed five questions: 'What are the reasons for Ethereum's price drop?', 'What is the real dilemma facing Ethereum?', 'How do you view Vitalik's future goals for Ethereum?', 'What do you think of the claim that Solana will challenge Ethereum's status?', and 'Recharging faith.' Here are the answers we collected:
1. In a market where price rises are seen as justice, Ethereum's recent performance has been unsatisfactory. What do you think are the reasons behind Ethereum's price drop?
YBB Capital: I believe that the ETF is the primary reason for Ethereum's price stagnation in recent months. For retail investors, ETFs offer no cost-effectiveness. Purchasing Ethereum through exchanges or on-chain incurs no high management fees and can yield higher returns through staking. In this case, the liquidity of ETFs is already limited and must withstand significant selling pressure from Grayscale. At the same time, Ethereum has not politically gained the dividends that Bitcoin has, ultimately leading to a starkly different performance of ETH ETFs compared to BTC ETFs after approval.
The secondary reasons include a lack of fresh narratives at the application layer, attention being diverted by heterogeneous chains, etc. The application scenarios of tokens have gradually shifted from being on-chain currencies to collateral. This has made Ethereum less attractive for purchases. In the past, whether you were an Ethereum supporter or not, to purchase mainstream NFTs, participate in project public offerings, engage in mainstream GameFi, or take part in mining on-chain activities, you needed to buy some Ethereum. Now, these narratives have become a thing of the past, and after Ethereum embraces modularity, you can even complete an operation on Layer 2 with just a few U. Making large purchases of Ethereum for on-chain activities is no longer the norm. In short, unless you participate in airdrops or staking arbitrage, Ethereum is basically useless. If you want to participate in on-chain activities, you only need to purchase a few U of Ethereum from an exchange. From this perspective, the drop in Ethereum's price is not unexpected.
TokenInsight: Ethereum's recent poor price performance has been influenced by multiple factors, among which the most important is the market's questioning of Ethereum's identity, leading to an 'identity crisis' for Ethereum. Ethereum's choice to focus on Layer 2 as its core development direction has improved scalability, but at the same time reduced the base fee burn on the mainnet, where the burning mechanism has not been able to offset new issuance, leading Ethereum to enter an inflationary state. The positioning of Ethereum as a potential store of value has been questioned.
Moreover, after the launch of the Ethereum ETF, ETH failed to attract institutional investors' interest like Bitcoin did. Recent data shows a continuous net outflow of Ethereum spot ETFs, while BTC ETFs continue to attract significant net inflows. Institutional and traditional market investors are clearly lacking interest in Ethereum.
Coordinates Snow:
1) Layer 2 ecosystem diversion
The core goal of L2 is to solve the scalability issues of the Ethereum main chain by processing transactions outside the main chain, thereby reducing transaction costs and increasing throughput, alleviating the burden on the main chain. However, the Cancun upgrade did not bring the anticipated L2 prosperity. With the rise of L2 solutions like Arbitrum and Optimism, more and more protocols have shifted transaction processing to L2, which not only lowers transaction costs but also increases transaction speeds. Although these L2 solutions do not change Ethereum's core advantages in decentralization and security, they have siphoned off a large volume of transaction fees and revenues from the mainnet, directly affecting Ethereum's economic model.
2) Reduction of Blob fees
During Ethereum 2.0's upgrade process, the EIP-4844 proposal introduced Blob space. Blob transactions significantly reduce storage and transaction processing fees by compressing data. The fees for these transactions are lower than previous gas fees. The direct consequence is that if Blob transactions are widely adopted, miners and validators' income will decrease significantly. A decline in income could affect the network's security and operation.
WOO: Ethereum lacks a killer narrative, that is, it lacks a wealth effect.
The main narrative of Bitcoin is the entry of traditional finance, as evidenced by the continuous net inflow and trading volume of BTC ETFs, indicating that traditional financial institutions' interest in Bitcoin has not diminished over time.
Additionally, Solana has Pump Fun, a meme frenzy driving the entire public chain, Pump Fun can earn about 1 million dollars a day, with total revenue exceeding 170 million dollars.
Looking back at ETH's strongest narrative, Restaking, related token protocols have seen a decline in value. In retrospect, ETH is not even as good as lending on Aave. EigenLayer, which claims to be the leader in the restaking space, faced issues such as Twitter hacks and investment personnel email hijacking leading to losses after launch.
* This refers to the price performance and does not represent that Restaking has no technical significance.
Additionally, in terms of ETF preferences, traditional finance still favors BTC more, and ETH continues to suffer from strong selling pressure from Grayscale. Once data improves, it may be ETH's time to shine.
"Blockchain Insights": Aside from the increasing uncertainty in the macroeconomic environment, tightening regulatory policies, intensifying industry competition, and the rise of competitors diverting attention, I believe it may also be related to the following reasons:
Uncertainties brought by technological upgrades: Ethereum is undergoing a series of significant technological upgrades, such as The Merge, Sharding, etc., which, while helping to improve performance and scalability, also bring uncertainties in the short term, with effects falling short of expectations, affecting market confidence.
The game between L2 and L1: The grand strategy of Layer 2 development over the past four years has not brought incremental value to the secondary market, lacking empowerment for L1, while triggering competition between L2 and Ethereum L1, resulting in ETH transitioning from deflation to inflation, leading to Vitalik calling for 'Ethereum alignment.'
Lack of grand narratives and phenomenal ecological applications: The previous cycle saw the emergence of phenomenal applications such as DeFi, NFTFi, SocialFi, and the metaverse, leading the development of the entire crypto industry. However, in this cycle, there have not been any phenomenal applications or grand narratives emerging from the Ethereum ecosystem, with people's expectations shifting from high hopes to disappointment, even to FUD.
2) Aside from prices, what is the real dilemma facing Ethereum? What are the self-rescue methods?
YBB Capital: The current feeling about Ethereum is one of internal division and confusion about the future. I have mentioned in articles about Ethereum that its recent infrastructure advancements have not been failures but rather very successful and swift. However, what exactly is Layer 2 meant to do? How should the business model shift from C to B? I feel Ethereum hasn't figured that out. In this situation, second layers have seen various interest groups continuously draw from the main chain's ecosystem and funds, while feedback to the main chain is scant. Setting aside uncertainties like U.S. politics and sudden explosions at the application layer, Ethereum's self-rescue still needs reflection on the business model, and the entire ecosystem indeed needs to realign.
TokenInsight: The dilemma facing Ethereum mainly lies in balancing scalability and the value loss of the mainnet caused by Layer 2, as well as the fragmentation between different Layer 2 solutions.
1) Second-layer solutions lead to reduced ETH demand
Ethereum's second-layer solutions, such as Rollups, emerged as a remedy to alleviate congestion on the Ethereum mainnet. By processing transactions off-chain and then bulk uploading back to the main chain, these solutions offer faster and cheaper transactions, significantly enhancing the user experience. However, this shift poses potential challenges for Ethereum's value capture.
As more transactions are processed on second-layer solutions, the fees and economic activities that would benefit the Ethereum mainnet are increasingly being redirected. This shift may lead to decreased demand for ETH as users interact more with second-layer networks like Arbitrum and Optimism rather than using the Ethereum base layer. The economic incentives driving ETH's value may weaken, potentially impacting its price and utility as the primary asset within the ecosystem.
Although Ethereum can serve as the data availability (DA) layer for these second-layer protocols, the fees and value captured by ETH remain significantly lower than if these transactions occurred directly on Layer 1. While the DA role is crucial, it does not fully compensate for the reduction in direct transaction value on the Ethereum mainnet.
In July and August 2024, Ethereum experienced a significant drop in gas fees, reaching levels unseen in over five years. This trend is primarily attributed to the ongoing effects of the Dencun upgrade and increased interaction activities on second-layer solutions.
By mid-August, Ethereum's gas fees had dropped to as low as 0.6 gwei, with low-priority transaction records at just 1 gwei or lower. This is a drop of over 95% from the peak of 83 gwei observed during the network's active period in March 2024.
The Dencun upgrade implemented in March 2024 played a key role in reducing transaction costs on the second-layer network. The most significant aspect of the Dencun upgrade is the introduction of proto-danksharding. This mechanism allows Ethereum to utilize a new type of temporary data known as 'blobs' to process second-layer (L2) transaction data more efficiently. These blobs are cleared from the blockchain after a set period, significantly reducing the storage costs associated with L2 transactions.
The significant drop in gas fees has also affected the amount of ETH burned, as determined by the EIP-1559 mechanism. EIP-1559 establishes a base fee for each transaction, which is the minimum gas price required for the transaction to be included in a block. This base fee adjusts dynamically based on the network's demand for block space, increasing when blocks are full and decreasing when underutilized. The base fee is burned, permanently removing ETH from circulation. This mechanism introduces deflationary pressure on ETH, reducing the total supply over time if the burn rate exceeds the issuance from staking rewards. However, if there is insufficient demand for paying gas fees with ETH, the issuance from staking rewards may lead to an increase in the total supply of ETH.
2) Interoperability and complexity issues of the second layer
The push towards second-layer solutions has created interoperability issues and increased developer complexity, making it more difficult for users to have a seamless experience compared to other Layer 1 networks (such as Solana).
Each second-layer solution—such as Arbitrum, Optimism, and ZKsync—operates as an independent environment with its own set of rules and standards. This decentralization means that assets and data cannot seamlessly move between these different second-layer networks, creating islands within the Ethereum ecosystem. Developers must build or integrate complex cross-chain mechanisms to achieve interoperability between these layers, which can be time-consuming and error-prone.
Currently, there are 64 second layers, 18 third layers, and 81 upcoming second and third layer projects entering Ethereum. Because different L2s operate in isolated environments, it becomes difficult for decentralized applications (DApps) and users to interact seamlessly across these networks.
Additionally, multiple second-layer solutions have significantly increased the complexity of building and deploying decentralized applications (DApps). Developers must decide which second-layer network to build on, weighing factors like user base, transaction costs, and technical specifications. Moreover, maintaining DApps across multiple second layers increases the development and maintenance workload, as each second layer may have different tools, APIs, and performance characteristics.
These interoperability and complexity issues not only affect developers but also have a cascading impact on user experience. Users may find navigating between different second-layer networks confusing, as each network has its own wallet, transaction processes, and fees. This decentralized experience can hinder adoption and reduce the seamless experience Ethereum aims to provide.
3) Does ETH have a monetary premium?
Monetary premium refers to the additional value of an asset beyond its intrinsic or utility value, often due to being seen as a store of value, medium of exchange, or unit of account. For a long time, Ethereum has been considered to have a monetary premium, contributing to its status as the second largest cryptocurrency by market capitalization.
For Ethereum, its monetary premium stems from several factors:
Utility in the ecosystem: Ethereum is the pillar of a large number of decentralized applications (DApps), decentralized finance (DeFi) platforms, and non-fungible tokens (NFTs). The demand to pay gas fees with ETH and participate in on-chain activities gives it value beyond just technical functionality.
Perception of value storage: Due to Ethereum's widespread use, larger market capitalization, and belief in the long-term growth of the Ethereum network, some investors view ETH as a value storage similar to Bitcoin. This perception adds a monetary premium to ETH.
Staking and earning potential: ETH holders can earn rewards by staking their tokens, further enhancing its value proposition and increasing its monetary premium.
However, unlike Bitcoin, which has a hard cap of 21 million coins, Ethereum does not have a fixed supply limit. Critics argue that this lack of a cap undermines ETH's ability to serve as a reliable store of value, as its supply may increase over time, diluting its value. According to EIP-1559, when demand for ETH is high, ETH becomes a deflationary asset because part of the gas fee is burned. However, when demand decreases, ETH becomes an inflationary asset, undermining its value proposition as a store of value.
Furthermore, Ethereum is often seen as more focused on becoming a 'world computer' rather than merely a monetary asset. This multifaceted role, while providing utility, may weaken its perception as a simple and reliable value storage, in contrast to Bitcoin's focus on becoming 'digital gold.'
The core issue revolves around what Ethereum's value proposition truly is. If Ethereum's primary goal is to operate as a world computer, it needs to transfer transactions to second-layer solutions to achieve faster processing and lower transaction costs. However, this transition inevitably shifts some value to the layer 2 protocols, undermining the value accumulation of ETH as an asset. The challenge lies in how to balance the demands for scalability with the desire to maintain and enhance the value of ETH.
To maintain its status as 'Ultra Sound Money,' Ethereum must ensure that second-layer solutions provide low-cost transactions for users while not diminishing the value of its native assets. This delicate balance is crucial for ETH to continue to hold its monetary premium.
Coordinates Snow:
1) Although Ethereum 2.0 and multiple upgrades have significantly improved network efficiency, its scalability issues remain a major challenge. Ethereum's TPS is still relatively low compared to public chains like Solana, especially during high network load when transaction fees spike, slowing processing speed and affecting developer and user experience.
2) While Ethereum remains the most widely accepted smart contract platform, it faces significant competition from new public chains. Public chains like Solana, Polygon, and Arbitrum have attracted a large influx of developers and capital by offering lower transaction fees and higher throughput, especially Solana, which has become a significant competitor to Ethereum with its unique consensus mechanism and high-performance architecture.
Methods:
Ethereum needs to optimize user experience and developer friendliness. Although Ethereum has advantages in security and decentralization, its development complexity and high transaction fees remain bottlenecks.
Secondly, promote the diversification of the L2 ecosystem and cross-chain interoperability, ensuring Ethereum can seamlessly connect with other blockchain protocols.
WOO: There is still a lack of applications.
Ethereum has built a lot of infrastructure to make this public chain faster and easier to use, but the current situation is not that the infrastructure is functioning well, but rather that there are no users.
It's like building many highways but having no cars on them.
To predict the future development of ETH, one can glimpse some clues from leading indicators in financing:
From August 2024, the overall investment direction remains focused on infrastructure, with completed funding reaching 660 million dollars, while DeFi ranked second with 330 million dollars in funding, a noticeable increase compared to 2023.
Currently, the ETH ecosystem dominates in terms of DeFi TVL, accounting for over 70%. Although there have not yet been any breakout products, one can look forward to whether more high-quality DeFi projects can replicate the DeFi Summer of 2020 in the further maturation of L1 & L2 in 2025, thereby revitalizing the price of Ether.
"Blockchain Insights": The dilemma may lie in the balance between long-term sustainability and short-term commercial viability. On the basis of focusing on long-term sustainability, it is necessary to also pay attention to commercially viable applications in real-world development. While focusing on technological upgrades, each commercial application should also become a ladder towards long-termism.
Among numerous smart contract public chains, Ethereum is recognized more widely in the traditional financial world. Developing business applications on Ethereum can integrate both insider and outsider perspectives, linking the two worlds through RWA, bringing sustainable increments to Ethereum.
3. Vitalik recently published six articles outlining the future of Ethereum. How do you view Vitalik's design goals for Ethereum's future?
YBB Capital: Vitalik's goal has remained unchanged: to make Ethereum adaptable to large-scale applications and to make crypto not just about finance. However, an excellent crypto geek is not necessarily a good businessman, nor a qualified crypto user. Vitalik is often quite idealistic, as can be seen from Ethereum's pricing curve as a DA layer and his statements about non-financial applications in various public events. This idealism can easily lead to incorrect directions in developmental paths. Today, Ethereum, as a giant worth hundreds of billions, cannot only focus on narratives and the future. I think Vitalik's design goals for Ethereum are still too ambitious, and I see no hope for reviving Ethereum in these goals.
TokenInsight: Vitalik has published a series of blog posts (The Possible Future of the Ethereum Protocol) detailing the core content of Ethereum's six major upgrade paths. Let's summarize the core goals of these six upgrades:
The Merge: Completed the transition from Proof of Work (PoW) to Proof of Stake (PoS) in 2022, reducing energy consumption by 99% and enhancing network security. Future goals include reducing confirmation times to about 4 seconds and lowering the staking threshold to 1 ETH to attract more users to participate in network security maintenance.
The Surge: Aiming to increase Ethereum's transaction throughput to 100,000 transactions per second (TPS). Further improving network efficiency through Layer 2 scaling and data storage optimization (such as the 'blobs' data storage in the 2024 Dencun upgrade) and future PeerDAS technology.
The Scourge: Mitigating centralization risks in block construction and staking. Solutions include 'inclusion lists' and encrypted transaction pools to reduce transaction manipulation issues caused by maximum extractable value (MEV).
The Verge: Making Ethereum nodes more lightweight. By using 'stateless clients' and cryptographic proofs (such as Verkle trees or STARKs), reducing the storage requirements for nodes, ultimately allowing mobile phones or laptops to verify the blockchain, enhancing decentralization.
The Purge: Simplifying protocols and reducing storage requirements. Alleviating node storage burdens through expiration mechanisms for historical and state data while removing rarely used features to improve network efficiency.
The Splurge: Miscellaneous improvements including Ethereum Virtual Machine (EVM) optimizations, account abstraction, transaction fee mechanism improvements, and future cryptographic technology experiments to ensure the network adapts to evolving technological demands.
According to the 'impossible triangle' theory of blockchain, a blockchain network cannot simultaneously achieve security, decentralization, and scalability. If a Layer 1 smart contract platform excels in these three aspects compared to other Layer 1s, it can stand out among many Layer 1 blockchains. It is evident that Vitalik's vision for Ethereum's future is to seek maximum optimization and balance among security, decentralization, and scalability.
Coordinates Snow: Rollup, modular DA narratives have given Ethereum L2 great freedom and scalability. After the Cancun upgrade, the number of L2 projects has surged, but the anticipated reciprocal ecosystem for Ethereum has not yet materialized.
This is why Vitalik needs to redefine the requirements for L2—homogeneous L2s will not form a synergy; a differentiated product strategy is the optimal solution.
WOO: Recently, I saw Vitalik speaking for EF, saying that selling coins was for research funding, etc. I believe that continually selling coins does not have a significant impact on prices; the impact is more on user expectations and short-term trading sentiment.
Such behavior may lead the community to believe that the Ethereum Foundation has abandoned users, exacerbating the already sluggish price and further diminishing confidence in Ethereum.
Ethereum needs to be more grounded, consider user emotions, and start from user needs in order to have a chance to win back public trust.
Vitalik's ambitious design goals for Ethereum are lofty, but sometimes technology and token prices do not present a linear relationship. In addition to focusing on the narrative of ETH's technological development, ETH should also pay attention to:
1) The way the foundation monetizes needs to be adjusted, such as the specific donation solutions proposed by Vitalik, rather than directly selling to Cex (in 2024, the Ethereum Foundation has already sold a cumulative 11.5 million dollars worth of ETH), providing more confidence to secondary market users.
2) The positive cycle of ETH token prices, in the current low gas environment, is difficult to initiate a sustained on-chain burn. More solutions that can boost ETH prices need to be provided; it cannot focus solely on technology. Only with continuous funding from Web2 and Web3 within the ETH ecosystem will further stimulate effective innovation from developers. Currently, more catalysts are needed.
"Blockchain Insights": Vitalik's series of articles includes six parts: the Merge, The Surge, The Scourge, The Verge, the Purge, and The Splurge, covering key directions such as consensus mechanism transitions, scalability improvements, protocol simplifications, EVM optimizations, and account abstractions. Through these six articles, Vitalik Buterin has shown us the Ethereum team's clear planning for future development, which involves not only technological upgrades but also the vision of Ethereum as a global computer.
I hold a positive attitude towards Vitalik's vision, believing that as Web3 continues to develop, Ethereum's importance as underlying infrastructure will become increasingly prominent; the current development of the Ethereum ecosystem is 'far ahead,' and it will also give rise to more innovative applications, potentially driving changes in social governance, the financial system, and more.
However, there are still many uncertainties regarding Ethereum's future development, which are related to technical complexity, competition among public chains, and regulation, while the 'development around Vitalik's roadmap' may also be a double-edged sword.
4) Many believe that Solana will challenge Ethereum's status, and some even claim it has already surpassed Ethereum in certain aspects. What do you think?
YBB Capital: From multiple dimensions, Ethereum remains the center of the crypto world, but it does indeed possess a unique 'arrogance.' For instance, various documentation is still filled with lofty Web3 terminology, making the user experience appear more complex and fragmented. In contrast, heterogeneous chains are striving to simplify and integrate, while Ethereum's infrastructure developers are still researching FHE and chain abstraction. Vitalik is also calling for the entire ecosystem to unite. In terms of rhythm, Ethereum does seem to be somewhat disorganized. Solana and Ton currently lead significantly in user experience and attention economy strategies, but it may still be too early to say they challenge Ethereum. After all, these two public chains have not yet seen any emerging trends in non-DeFi applications, nor any noteworthy major innovations. However, the ideas of being grounded, finding new paths, and creating consumer-grade applications are highly commendable, as I have mentioned multiple times in my past articles.
TokenInsight: Comparing Ethereum and Solana is one of the most controversial topics in the current cryptocurrency market. As two of the most influential Layer 1 blockchains, they each have unique characteristics and fulfill the needs of different user groups within the crypto ecosystem.
Ethereum has the strongest network effects among all Layer 1 blockchains. As the first smart contract platform, Ethereum has attracted the most users and a large, active developer community. Ethereum boasts a vast ecosystem of decentralized applications (DApps), tools, and resources, making it easier for new projects to build and grow. As more projects and developers choose to build on Ethereum, the network becomes more valuable, further attracting more users and projects, creating a positive feedback loop.
In terms of economic security, Ethereum also stands out in its layer one blockchain. Over a million validators have staked over 110 billion dollars worth of ETH. This enormous amount of staked value creates strong economic incentives for validators to act honestly. Ethereum demonstrates significant maturity and stability. Compared to other blockchains, Ethereum has not experienced any major network-wide disruptions that would lead to a complete operational halt. This reliability is crucial for developers, users, and enterprises that rely on the network for various applications and services.
Solana, on the other hand, is centered on scalability, enabling it to handle up to 65,000 transactions per second. Solana provides low transaction latency, with transactions processed and confirmed within seconds. The network achieves about 400 milliseconds of block time, ensuring rapid transaction finality. Solana's low latency is crucial for real-time applications and competitive trading environments, where speed is of the utmost importance. The ability to provide near-instant transaction finality enhances user experience.
Ethereum's strong network effects, security, and maturity make it an ideal choice for applications requiring high trust and composability. In contrast, Solana's high throughput and low transaction costs are well-suited for applications requiring fast transaction processing and low fees.
Coordinates Snow: Although Solana surpasses Ethereum in transaction throughput and fees, it does not mean Solana has already surpassed Ethereum.
1) Solana's high-speed and low-cost solutions are appealing, but its degree of decentralization is lower, and the network still carries risks under high loads. In contrast, Ethereum, as the first fully decentralized smart contract platform, remains the leader in blockchain technology with its large developer community, decentralized governance structure, and widespread market recognition.
2) Although Solana can offer better performance, Ethereum's decentralization features remain its irreplaceable core advantage in long-term ecological development.
WOO: Each chain has its own strengths; for example, one can see that Solana has gained market attention during this cycle due to Pump.fun. Now, when thinking of SOL, one naturally thinks of Memes.
However, returning to the DeFi layer, Ethereum's ecosystem still accommodates the most funds among chains, with DeFi TVL alone accounting for 70% of the total.
Solana is good, but the two have different orientations; comparing them still feels a bit forced.
"Blockchain Insights": In the short term, Solana indeed has advantages in performance, marketing, and market sensitivity, especially with this cycle promoting the 'Memecoin Super Cycle,' which has garnered widespread attention and liquidity.
However, Ethereum's ecosystem is more mature, with a larger developer community and a well-established DeFi infrastructure; particularly, the traditional financial world's broad recognition and preferential adoption of Ethereum make it likely to first capture out-of-the-box dividends, such as RWA, and its future potential should not be underestimated.
The rise of Solana poses a certain challenge to Ethereum, but overall, both have their advantages and disadvantages, each occupying its ecological niche without an absolute winner.
5) If you are optimistic about Ethereum, please recharge faith in the Ethereum community with a sentence.
YBB Capital: In the context of the growing OP alliance, the Ethereum ecosystem does have the opportunity to regain its heights.
TokenInsight: As an investor, we may need rational faith and avoid confirmation bias, which is focusing only on favorable information while ignoring contrary evidence. Logically, Ethereum remains the first smart contract platform, and this status will not change during this bull market. Thus, buying when no one is paying attention and selling when there is a lot of buzz is the way to go.
Coordinates Snow: Ethereum is the cornerstone of the blockchain financial system. Whether in L2 or L1 applications, it will retain an unparalleled position that other chains cannot achieve.
WOO: The disappointment over Ethereum's low price is proportional to the regret of missing out on the rise when it comes.
"Blockchain Insights": Observing the fluctuations in the crypto market without fighting for a moment. Promoting sustainable value development benefits future generations.
