#eth走势分析
Watching ETH rise, the voices around shouting "to ten thousand dollars" are getting louder. It's indeed lively, but there are a few questions that, the more I think about them, make me feel the need to calmly ponder:
How much has the "upgrade narrative" overdrawn? The upgrade benefits in December, have they already been "satisfied" in the price? If the effects after the upgrade do not meet expectations, or if new bugs appear, how much patience does the market have left?
The prosperity of Layer 2, does it counteract the value of the mainnet? Everyone is playing on Arb and OP, cheap and fast. But is this an addition to the ETH mainnet itself, or a diversion of value? In the future, how high can the story of ETH's "settlement layer" support its valuation?
The biggest variable is not on-chain, but in the Federal Reserve. If interest rate cuts are to counter recession, will institutions continue to increase their allocation to crypto assets, or will they prioritize withdrawing liquidity to preserve cash? This is fundamentally not a question that can be answered technically.
Personally, I believe that ETH's fundamentals are strengthening, but its challenges have never been this complex. It is no longer just competing with BTC for height; it also has to face the internal "value distribution" dilemma within its own ecosystem.
Finally, on a slightly different note, seeing CZ fully invested in Giggle Academy makes it clear that true long-term value often arises from solving real-world problems. In the crypto world, besides price, should we also pay attention to those quietly building and creating actual utility? For example, like the @Max Charity community, dedicated to transforming the energy of Web3 into educational resources on children's screens.
Perhaps this is the "invisible narrative" that can transcend bull and bear markets.
Only sharing personal observations/information!
