The bull market in 2023 seems to have nothing to do with ETH? Is ETH still the same thing it used to be?

Follow me and let the time come to 2016, which was the year when the explosive development of ETH's grand narrative began.

This year, countless people with dreams of getting rich have squeezed their heads to join the generous road of POW graphics card miners. The wave of ICO in 2017 was also led by raising more ETH. The bull market also reached its climax at this moment, and ETH The status of Ethereum was also achieved at this moment. Rather than the ICO coin issuance that led to the beginning of Ethereum, it is better to say that we are greedy and yearn for the blockchain spirit and the blockchain world. ETH was achieved, and then the September 4th regulations were implemented. Entering the stage of a bear market.

In 2019, as the lock-up volume of DeFi tripled, we call 2019 the first year of DeFi. As the largest public chain platform, ETH is undoubtedly the biggest beneficiary. We have also experienced a small-scale bull market. , ETH once again consolidated its second position.

20 years...21 years... In the following time, the ecological scale of ETH has continued to grow, and it has become the largest ecosystem in the currency circle. This is also the era of ecological dividends of Ethereum, and countless VCs have made a lot of money, so More people are more firmly supporting and following everything advocated by the ETH ecosystem and Vitalik.

Let’s move the timeline back to 2023, the bull market that started in March. We need to ask, is Ethereum still the largest ecosystem in the currency circle that can support the blockchain world and fill half of the bull market? In this hot bull market, the most exciting thing is Inscription Market, Solana and the overall ecology, POW small market value tokens.

What we seem to feel is that this large-scale bull market that started in March is more often led by emotions and funds, not fundamentals. Just like memes, many coins/projects are not It is necessary to understand various analyzes of the track/data situation/team situation/what problems have been solved, but more people’s investment logic revolves around these, so those who are still clinging to the Ethereum ecosystem seem to be here During the bull market movement, we did not get the desired rate of return. This also shows that there are no fresh narratives that can make waves in the currency circle at this stage, and some are just new speculations.So this is also the logic why meme can dominate this market.

So facing the world of blockchain, what exactly do we need? What is needed is blockchain technology to change the world and bring us into the next era? All you need is the blockchain spirit? Or do we just need a target for speculation? This is a question left for all of us to think about.

I once had a conversation with a technology guru about the future of Ethereum, about technology/ecology/community/questions.

In fact, it can be summed up in just one sentence. Let’s not talk about the future, but look at the present. There is no shortage of technology in the currency circle. In terms of ecology/community, it is better to have more ETH than to replace ETH.

Hopefully, all practitioners will eventually get what they want.