The future of Ethereum depends on the speed of technological upgrades, improvements in the regulatory environment, and the sustainability of ecological innovation. In the short term, prices may fluctuate sharply due to market sentiment and capital flows, but in the long term, its leadership position in smart contracts and DeFi, the potential influx of institutional funds, and the implementation of modular strategies still give it the potential to become 'digital oil.' Investors should pay attention to the progress of the Pectra upgrade in 2025, ETF approval dynamics, and the policy direction in the United States. #美国稳定币法案 #欧盟隐私币禁令