Ethereum is evolving from a 'world computer' to a **decentralized bandwidth network**, and its value capture will depend on:

1. **The irreplaceability of the settlement layer in the modular stack**

2. **The tax transmission efficiency of L2 economic activities**

3. **The speed of building compliant institutional capital entrances**

In the short term (1-3 years), volatility will be exacerbated by macro cycles and regulatory disturbances, but in the long term (5-10 years), it is expected to become the foundational protocol layer of digital civilization, with the market cap ceiling depending on whether it can achieve seamless interoperability with traditional economic systems while maintaining decentralization.

Although there are so many advantages, the current price is not something to look at too high. Can it reach 5000?