1. Ethereum “crashed”?

If we want to summarize the performance of Ethereum in 2024, it is really - falling and falling, and the same suffering. The overall environment is like a never-ending storm, with soaring interest rates, high inflation, and the lingering clouds of war. The entire cryptocurrency market has been hit to pieces. Ethereum, as a veteran player, has not gained a firm foothold.

To make matters worse, competitors emerged:

  • Solana: Fast transactions, low gas fees, developers exclaim “it’s really good”.

  • Polkadot: The cross-chain technology is amazing, it’s like a fast lane between different chains.

  • Cardano: Making strides in smart contracts and DeFi, attracting countless fans.

These newcomers have taken a piece of Ethereum's cake, and with ongoing issues regarding the Ethereum 2.0 upgrade and frequent bugs, investors have fled, and the coin price has stagnated.

II. Trump family's 'bottom fishing' operation

While everyone was pessimistic about Ethereum, the Trump family made a surprising move. Their project World Liberty Financial (WLFI) directly purchased 1,325 Ether using $5 million in USDC, and they are continuing to increase their holdings! This sparked widespread discussion in the market: What does this family mean? Did they misjudge the situation?

III. Why is the Trump family interested in Ethereum?

Don't be quick to call them foolish; let's analyze why they are doing this:

  1. Look for long-term value
    Although Ethereum is struggling now, it is one of the 'pioneers' of the crypto market. With a strong technical foundation and a wide range of application scenarios, who dares to say it has no chance of turning things around?

  2. Hedging economic risks
    The global economy is confusing, and cryptocurrencies have become an alternative safe-haven asset. Holding some Ethereum can diversify investment risks and create opportunities for future significant gains.

  3. Layout DeFi and NFT
    Fields like DeFi and NFT are currently extremely popular, and Ethereum is the foundation of these ecosystems. The Trump family may want to take advantage of the low coin prices now to position themselves for future gains.

  4. Political and economic integration
    Don't forget that the Trump family are big players in politics and capital. Getting some Ethereum may not just be an investment; it could also help build good relationships with players in the crypto world for long-term development.

IV. Market reactions: Some are confused, others are following the trend

The Trump family's 'low position buying' has confused many, but some have started to reassess Ethereum's potential. Some institutions are even beginning to follow suit in secret, as the instincts of big players are usually sharper than those of ordinary investors.

However, to turn things around, Ethereum has to tackle a bunch of tough challenges:

  • Technically, Ethereum 2.0 must be more stable and faster, without any more issues.

  • Market competition is fierce, with up-and-coming stars like Solana and Polkadot eyeing Ethereum's market share.

  • Regulation is also a sword of Damocles, with policy changes in various countries happening rapidly.

V. What does the future hold? It depends on opportunities and luck

Ethereum's current period of downturn in 2024 might just be the 'darkest hour' before its future rise. If they can endure this, when DeFi and NFT continue to explode and market regulations become clearer, the Trump family's actions could become a textbook case of successful 'bottom fishing'.

Of course, if the technology doesn't keep up and competitors are chasing hard, Ethereum's leading position may indeed be at risk. But to be fair, among so many blockchain projects, Ethereum's resilience and strength are still among the best.

Ethereum in 2024 has suffered greatly but is not dead. The Trump family's 'counter-trend operation' may seem radical, but it actually hides a lot of thoughtful consideration. If you are an investor, is it time to follow their lead? Don’t rush; the market changes quickly, opportunities exist, but risks are also high. Whether Ethereum can turn around in the future depends on whether it can endure this 'darkest hour'!