We mentioned above that we should pay attention to the eth/btc exchange rate pair. Next, I will briefly explain how eth has set off a bloody storm in the world through smart contracts. The emergence of smart contracts has brought a new spring to blockchains except btc. The launch of the function of consuming a little bit of eth and issuing tokens with one click directly detonated 2017. Many people entered this market through 1co this year. That is to say, the first coin in most people’s wallets is not btc, but eth, which caused the takeoff of tens of thousands of coins in 2018 until the arrival of the bear market. Then the emergence of rebase continued to detonate the activity on the Ethereum Phoenix Chain. The arrival of DeFi directly subverted the traditional matching transactions. Yi, with the AMM automatic market making, we can see that ETH has split into too many billion-level projects and EVM-like chains, such as Avax, Pol and other chains, but the emergence of restaking this time has brought new games to ETH, that is, ETH has indeed become more slippery after the Cancun upgrade, and gas is relatively cheap, but the invisible increase in ETH has brought huge resistance to ETH, but at the same time, such a turbine effect is both pressure and engine. We can almost be sure that when the turning point appears, all the additional ETH will become a copycat buy order and appear in various projects and all AMM pools, so I am optimistic that after the turning point appears, the general trend of ETH will be 4000 6000 10000. These three stages, I will explain the main impact of the second layer and meme on ETH later. #加密市场反弹 #TerraformLabs破产清算 #美联储宣布降息50个基点 #美国8月零售销售环比好于预期 $ETH