
看不懂的sol|Mar 24, 2025 03:11
Talk about ETH
That's right, the performance of ETH in this cycle is indeed not satisfactory.
I remember buying ETH for $1400 in 2018, but it is still at the $2000 mark today. The return performance during this time span is indeed somewhat surprising.
First of all, I actually don't have much ETH in my hand. The wave of playing NFTs that I bought earlier has basically been squandered. In recent years, I have also been playing SOL for the most part. I have been conducting experiments and have been investing since around 3300. Currently, I have nearly 100 items in hand, with an average price of around 2660.
Recently, I often see people singing down ETH. I can see that there are mainly two reasons:
1. With the emergence of competitors, ETH has fallen behind. A typical representative is the emergence of SOL and some innovative public chains such as TON/SUI
2. BTC has also become available on the chain, such as Merlin; ETH no longer has any value.
For the first viewpoint, the ecological applications and deposited funds on ETH are far ahead of SOL. The application of SOL is actually to issue meme coins; Everything else was copied from the ETH ecosystem. The well-known concepts and leading products in the cryptocurrency industry are all grown under the towering tree of ETH. Meme coin may have beneficial effects (but the issuance of coins by several presidents and the narrative of the most bullish market in history have brought negative effects to SOL. Although we still see SOL's technological capabilities in the long run, this chain still relies on hotspots), but the development of blockchain technology or exploration of new usage scenarios currently seems to be on ETH.
The second viewpoint is more thought-provoking and a consensus among early blockchain enthusiasts. In the blockchain world, Bitcoin is the foundation on which second and higher layer networks are built. The settlement of the entire blockchain is based on BTC, while others are tokens on the BTC chain.
In 2017, it was difficult to imagine implementing smart contracts and token functionality on Bitcoin, but now this idea is easier to understand. The slow block generation speed of Bitcoin, which was a concern at the time, now has a solution: fast settlement between the second layer networks, and then packaging the transaction history to the first layer for final settlement. The L2 solution to its congestion problem on Ethereum is a similar case.
This scenario is highly attractive to Bitcoin believers, meaning that the unification of BTC and other public chains and cross chain demands such as ETH will no longer exist.
However, there are many non-technical factors in the real world, such as the cautious attitude towards upgrading the Bitcoin protocol and the tendency of excellent developers to start anew, which make this idea, although beautiful, difficult to achieve.
Although concepts such as Bitcoin sidechains and layer 2 networks emerged during the bull market in 2017, the ecosystem has yet to be established after many years. However, the inscription technology in the early stages of this bull market reignited this idea.
The opposite concept of a blockchain world is that Bitcoin serves as a value storage chain that does not require frequent updates, while several other public chains are used to provide functional applications and exploration. This idea, although not as concise as the former, is more achievable in the real world.
Of course, there are two main factors that affect the price of Ethereum:
One is practicality, that is, fundamentals;
The second aspect is emotional.
From a fundamental perspective, as long as Ethereum continues to develop and data indicators such as user numbers and locked in funds (TVL) continue to grow, its value will continue to increase, which is certain. Even if it may be undervalued in the short term due to factors such as emotions, such as being currently oversold, as long as the market situation improves and emotions improve, its value will eventually return and prices will also rise accordingly.
That is to say, the price fluctuates around value, and emotions fluctuate around fundamentals, both of which together determine the price of Ethereum. There is both certainty and uncertainty here.
The certainty lies in that Ethereum has effectively solved many problems, the number of users has continued to increase, and it has always maintained a leading position in the industry, and its value Internet track has not been falsified. Bitcoin has embarked on the path of digital gold and has been recognized by mainstream consensus, while the new track pioneered by Ethereum also has enormous potential.
From a philosophical perspective, the monopoly of Internet giants cannot last forever, and the value Internet must have its development space. Under this premise, Ethereum continues to advance on this track with clear goals, constantly practicing its development plan, and being able to adjust in a timely manner when encountering problems. It has great potential for the future.
In addition, the Ethereum community has established an executive director specifically responsible for liaising with Wall Street in response to the previously raised issues, which is also a positive signal of transformation. So, in the future, Ethereum is likely to get better and better (perhaps due to its own whims).
ETH
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