斯嘉丽 Scar

Who stole the yield of $ETH ? Now, the staking yield of Ethereum has dropped below 3%, lagging behind yield-bearing stablecoins at around 4%-6.5% and DeFi lending protocols (like Aave, Compound). The maturity and differentiation of the Ethereum ecosystem mean it no longer relies solely on staking yields to attract funds, but has evolved into a diversified yield market. Most of these high-yield products are still built on Ethereum, transforming it from a direct yield provider to a yield infrastructure layer. Although short-term yields are lower, users still need to pay Gas fees to use these products, indirectly enhancing ETH's value capture ability.

Ethereum's dominance in DeFi and RWA fields remains solid, including its security, degree of decentralization, and developer ecosystem, which are still industry benchmarks. With the maturity of technologies like Layer 2 scaling and account abstraction, Ethereum has the potential to further lower participation thresholds, making Ethereum yields no longer solely refer to staking returns, but rather the comprehensive yield opportunities of the entire ecosystem. Therefore, despite short-term yield pressure, Ethereum still achieves another form of victory by empowering the on-chain yield ecosystem. The answer was originally hidden behind all competing protocols.

#Ethereum #DeFi #Staking #RWA #ETH

The view that the price of BTC may soar to $1 million in the future is bold but not without basis. The current market capitalization of BTC is still far below that of gold, which means that if it is truly widely accepted as digital gold or a new generation of value storage, its potential for growth is indeed significant. However, this prediction also faces many challenges, such as regulatory uncertainty, technological risks, and competition from the traditional financial system.

Galaxy Digital CEO Mike Novogratz's optimistic forecast largely stems from his observations of the investment preferences of younger generations. Indeed, millennials and Generation Z are more inclined towards digital assets, with relatively less interest in traditional gold. But we must also recognize that BTC is highly volatile and has not yet undergone a complete global economic recession cycle; its true safe-haven properties remain to be verified.

Novogratz himself has profited significantly from early investments in Bitcoin, which may have influenced his long-term confidence in Bitcoin. While there is some merit to his prediction, market sentiment, policy changes, and technological evolution could alter Bitcoin's trajectory. For example, if major global economies launch central bank digital currencies (CBDCs) or implement stricter regulations on cryptocurrencies, Bitcoin's growth may be suppressed.

Overall, BTC does have the potential to surpass gold in the future and become a mainstream store of value asset, potentially reaching $150,000 or higher. However, the $1 million prediction is more like a long-term vision rather than a short-term reality. While we remain optimistic, we should also be rational, fully consider market risks, and avoid over-reliance on the expectation of a single asset's explosive growth.

#Bitcoin #BTC #Crypto #HODL

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