ETH has finally reached an ATH, Bitcoin has been waiting for you for nearly six months, this historical new high indicates that institutional entry has changed the value of ETH itself. Some institutions are already using ETH as a base public chain to issue their own products, but the sample size is too small to determine the future adoption trend of ETH. If you believe that ETH will be the blockchain used by global institutions, then you should hold. If you think that the world will adopt other public chains or issue their own public chains for their use, then you should gradually sell and switch to some cross-chain products. Because if ETH does not see a new narrative, it will gradually reach its peak after hitting a historical high.
My understanding is that ultimately the world will converge into a few major chains, similar to the "Hundred Regiments Offensive" of the internet, the "Hundred Exchanges Battle" in crypto exchanges, and so on. In the initial phase of adoption, some enterprises may choose consensus public chains like ETH or SOL, but soon they will issue their own chains to minimize costs. Past examples include: $TRX $EOS http://CYPTO.COM and the recent execution of Xlayer's $OKB.
Traditional enterprises like Sony, Rakuten, IBM, JPMorgan, etc., are currently issuing enterprise-level public chains on Ethereum L2 or directly using some networks of Ethereum L2 (such as Arbitrum, Polygon, etc.). In the future, self-transformation is likely unavoidable, so looking at a timeframe of 5-10 years, I believe that ultimately the public chain will have a "three kingdoms" situation, where ETH may be a public chain claiming complete decentralization. In the medium term of 1-3 years, various parties will gradually abandon ETH and create their own public chains. In the short term, over the next year or two, blockchain adoption will start with ETH. Therefore, the future path of ETH should still be characterized by significant ups and downs, with constant twists and turns. Ultimately, whether it can emerge from the multitude of chains depends on Vitalik's luck and innovation capabilities.
