The view you mentioned that "Ethereum is also the $BTC of Bitcoin crowdfunding" does reflect an important historical node in the early development of cryptocurrency. But we can re-understand this relationship from three dimensions:

1. Technology inheritance and breakthrough

As the representative of blockchain 1.0, Bitcoin solves the trust problem of digital cash. Ethereum has achieved a leap to blockchain 2.0 through smart contract technology, and its underlying architecture is fundamentally different from Bitcoin. Just like the Internet has developed from static web pages to dynamic applications, Ethereum has built a decentralized computer platform that allows developers to create various distributed applications on it.

2. Independent evolution of ecological value

Despite the early support of the Bitcoin community, Ethereum has formed a completely independent value system:

- It has the world's largest DeFi ecosystem (locked volume exceeds 40 billion US dollars)

- It carries more than 90% of NFT assets (annual transaction volume exceeds 100 billion US dollars)

- It is building the infrastructure of Web3.0 (Layer2 solution StarkNet, etc.)

3. Differences in market positioning

Bitcoin is positioned as "digital gold" and emphasizes the value storage function; Ethereum is more like "digital oil", as an energy source to support the operation of the entire blockchain economy. This difference is also reflected in price performance:

- Bitcoin's market value accounts for about 40% (digital gold attribute)

- Ethereum's market value accounts for about 20% (blockchain infrastructure value)

It should be pointed out that according to Coingecko data, the Ethereum network processes more than 20 billion US dollars in transactions per day, far exceeding the Bitcoin network's approximately 5 billion US dollars. This gap in actual application value is a direct reflection of the different market positioning of the two.