#以太坊的未来

Dear crypto friends, today let's talk about Ethereum's “middle

Four years ago, Ethereum set a Flag to become the “deflationary god”, relying on the EIP-1559 burning mechanism to burn a staggering 7.3 billion USD worth of ETH. However, upon weighing in, it was found that the weight (supply) grows annually by an average of 0.805%! Goodness, this operation is akin to signing up for a gym membership but grilling skewers every day—burned calories (amount destroyed) will never catch up with the fried chicken (amount issued) intake. Vitalik looks at the K-line chart scratching his head: “Where are the promised six-pack abs? How did we end up with a beer belly?”

The Pectra shard upgrade was originally scheduled to launch in Q1 of this year, but due to ZK-Rollup's tantrums, it was directly postponed to April 25. After finally squeezing out a “technological feat” with TPS over 20,000 and transaction costs of 0.001 USD, we turned around to find Solana already snatched away 38% of the market share with 9,000 TPS and costs of 0.0001 USD, with daily active users being 5.6 times that of Ethereum. The retail traders angrily slapped their thighs: “Other public chains have already made it to Mars, while we are still fixing bicycle chains!”

Grayscale's ETHE product management fee is as high as 2.5%, leading retail traders to collectively perform “The Disappearing 1.1 Billion” — within seven weeks, funds flowed out frantically, with institutions like BlackRock overnight taking the low-rate train to escape. The SEC was there on the side adding salt to the wound: “ETH ETF is not allowed to stake!” Angry large holders withdrew their investments while cursing: “Ethereum that doesn’t allow staking is like a hotpot without chili—it's lost its soul!”

Future Survival Guide

1. **Middle Age Crisis Self-Help Guide**: Layer 2 slashes gas fees, resulting in a 72% drop in mainnet burn volume—suggest renaming EIP-1559 to “Retail Trader Tear Collector”

2. **Competitors' Low-Dimensional Attack**: Solana snatches users, Polygon intercepts BlackRock's trillion-dollar RWA cake, Ethereum holds the DeFi crown but has turned into “the front waves die on the beach”

3. **Regulatory Love Trade**: The SEC treats 75% of ERC-20 tokens as securities, and the ETH/BTC exchange rate has dropped to a historical low of 0.02—this wave is called “Love is not something you can buy, and you can sell just because you want to”

I heard that a certain whale bought antihypertensive drugs with staked ETH, suggesting renaming PoS to “Buddhist Holding Coin Health Preservation Method”