The cryptocurrency market is changing rapidly, and the throne is about to be replaced! This morning, as soon as I opened my eyes, the cryptocurrency market was blown up by a heavy news bomb——
ETH's price has skyrocketed to a high of 4200, while BTC seems to have fallen into a slumber, still hovering in place. The ETH/BTC exchange rate has violently surged, breaking through the 0.036 barrier. Just a few months ago, this exchange rate was still deep in the trough, but now it has achieved an astonishing increase of over 100%. This undoubtedly dropped a heavy bombshell on the entire cryptocurrency market, with insiders exclaiming: ETH is about to completely shake off BTC and enter solo mode!
Looking back, when the ETH/BTC exchange rate fell below 0.05, the market was filled with despair, and countless people pessimistically shouted 'ETH is finished' and 'it will inevitably go to zero'. But now, the market has slapped these shortsighted individuals in the face in the most ruthless way. This once again confirms the saying: true value often quietly nurtures and rebuilds in the ruins of collective panic.
This time, ETH's independent market really is different. It is no longer the 'little follower' trailing behind BTC, but has transformed into a leader. In the past, when BTC sneezed, ETH would catch a cold, but those days are gone. Now, the ETH ecosystem has shown a strong self-sustaining ability. The DeFi locked value has surpassed $100 billion, Layer 2 locked value has also exceeded $10 billion, and the NFT market is showing signs of recovery. These prosperous ecological scenes are beyond BTC's reach.
From the supply side, ETH has also welcomed a fundamental transformation. After the merge, ETH has completely bid farewell to the troubles of miners dumping every day, while BTC still faces the looming pressure from miners like a sword of Damocles after the halving. Between this increase and decrease, ETH has achieved a crushing scarcity over BTC for the first time.
Moreover, on-chain data clearly shows that smart whale funds are shifting from BTC to ETH. Coupled with the potential expectations of BlackRock's spot ETF, ETH has undoubtedly become the new darling in the eyes of institutions. One could say that ETH's rise is not accidental, but rather an inevitable result of the crypto world evolving from a single narrative of 'digital gold' to a diverse ecosystem of 'decentralized supercomputers'.
However, amidst the celebration, we must also maintain a clear mind and be vigilant about potential risks. A short-term surge of 100% in the exchange rate has accumulated a large amount of profit-taking positions, which could trigger a violent correction at any time. Moreover, the prosperity of the ETH ecosystem is not without its challenges; issues such as Layer 2 fragmentation, gas fee fluctuations, and regulatory uncertainties are like hidden time bombs.
But the real risk is not the price drop, but rather blindly chasing high prices without understanding the underlying logic supporting ETH's rise. So, is 0.036 the end point or the starting point? Through monitoring three key on-chain indicators, I found that the main force's asset adjustment is far from over, and ETH's upward trend may just be beginning.
Want to learn more about the secrets of whale movements and exchange rate trends? Follow @财月女神 , in the next issue I will directly reveal my monitoring dashboard, helping you to layout in advance and seize the next wave of exchange rate frenzy. In a bull market, following the right people is far more important than blindly working hard. Those who still cling to the old faith in BTC will eventually be mercilessly crushed by the wheels of time. The train of the new world of crypto has changed tracks; have you boarded the right one? Follow @财月女神 , and let me help you navigate the turbulent cryptocurrency world!