As the second largest cryptocurrency by market capitalization, Ethereum (ETH) has recently once again become the focus of the market. With the ongoing advancement of the Ethereum 2.0 upgrade, its transition from proof of work (PoW) to proof of stake (PoS) has been initially completed, significantly reducing energy consumption and improving transaction efficiency. This technological leap not only solidifies Ethereum's dominant position in the field of smart contracts but also lays the foundation for the explosive growth of Layer 2 solutions (such as Optimism and Arbitrum).

Meanwhile, the thriving Ethereum ecosystem continues to attract developers and capital into the market. The total value locked (TVL) of DeFi protocols remains at the top of public chains, and although the NFT market has experienced cyclical adjustments, Ethereum still dominates the issuance and trading of high-value collectibles. Additionally, recent discussions about the 'Ethereum spot ETF' have intensified; if regulatory bodies approve it, it could open new avenues for institutional investment, further boosting market confidence.

However, challenges still exist. High gas fees remain a pain point for user experience; although sharding technology is highly anticipated, its full implementation will still take time. On the other hand, competing public chains like Solana and Avalanche are forcing Ethereum to accelerate ecosystem optimization due to their advantages in speed and cost.

In the long run, Ethereum's core advantages lie in its irreplaceable developer community and established ecological barriers. Whether in finance, gaming, or the metaverse, FTU acts as the 'digital oil' of the industry.