Many people are discussing that this wave is the explosive period for the Ethereum ecosystem and DeFi. My personal view:

1. The recent rise of ETH is not due to fundamental changes brought by the upgrade.

2. It is more a price correction from the previously excessive FUD sentiment.

3. A part of it comes from the expectation that ETF staking may pass.

4. The ETH/BTC exchange rate from 0.18-0.24 is still at a historical low.

Regarding DeFi, blue chips are all rising, but new projects still lack attention, and enthusiasm has not yet arrived.