What happened to Ethereum?

Indeed, Ethereum's performance in this round has disappointed many people.

On the one hand, the volatile market has caused the originally inactive market to greatly reduce its GAS due to the emergence of Ethereum L2. Now the Ethereum network has single-digit GAS. Many friends have never seen such a low level even in a bear market, right? If the situation continues, it is not difficult to see that Ethereum will face considerable inflationary pressure.

On the other hand, it comes from competition. Many public chains are chasing hard, such as sol and TON, which is currently in the limelight. They all have their own advantages and characteristics.

And now Ethereum is like a teenager, going through an awkward emotional fluctuation stage trying to mature, but the whole world does not understand him, and the capital market does not recognize him. The most discussed thing is its layer2. Ethereum in this cycle is indeed different from the past cycle, because it basically tells users not to come, we are too expensive.

But there is a good news that we have 100 new layer2s and you will like them. Hundreds of L2 cross-chain bridges have been built to disperse the liquidity of Ethereum. Without liquidity, there is no narrative and no buying.

People who come from traditional finance only buy Bitcoin. They don’t care who has the most capital flow on the chain and who is the mother of DeFi. Maybe in the long run, developing Ethereum L2 is the right way to achieve decentralization.

When some chains may be taking shortcuts, taking the old road that Ethereum took many years ago, Ethereum is gritting its teeth and taking the road it thinks is right and difficult to build its own moat.

Some chains may have 1 million users, but Ethereum has 100 chains at the moment and is their underlying infrastructure. If there are 1 million users on each chain, then the final handling fee will still flow back to the Ethereum chain.

So what do you think of Yitaifang? Is there a future? Welcome to leave a message in the comment area and tell us what you think!