In fact, Ethereum has never been absent in every market cycle. Looking back at the past few waves, 2020 was DeFi, 2023 was the first inscription, and 2024 is the meme of SOL. Now we are in RWA and AI!

The reason for this situation mainly comes from the lag of institutions and major players. Hot money tends to rush into illiquid assets first, quickly driving up prices and creating a FOMO effect in designated tracks. However, for large funds, they need to consider the environment and the future recognition of the market, which usually reacts a bit slower than the market.

In every market rotation back to Ethereum, some interesting phenomena occur, such as OGs and whales starting to frequently transfer large amounts of ETH from the chain to Web3 wallets, as they are actually transferring it to institutions interested in Ethereum!