Ethereum continues to decline, neither resembling the beginning of a bull market nor the end of a bear market. How much longer will this strange symptom persist?
First, let's take a look at how Ethereum's structure seems to be facing real challenges lately. The numerous “false breakthroughs and true breakdowns” have left many feeling dizzy. So the question arises: are we in a bear market? Bitcoin has lost the 100,000 mark and even briefly dropped below 88,000, with altcoins in disarray. Personally, I believe that the long-term impact on altcoins comes not from Bitcoin or Solana, but rather from the king of all chains, Ethereum $ETH .
Many have likely heard this name, and even if you haven't, it's okay; at least now you know. Ethereum is currently the most widely used public blockchain in the world. In simple terms, Ethereum is like an upgraded version of Bitcoin—Bitcoin was born in the blockchain 1.0 era, while Ethereum became the pioneer of the blockchain 2.0 era.
About four years after Bitcoin's birth, after conducting long-term and in-depth research on Bitcoin, Vitalik Buterin published the Ethereum white paper and began recruiting developers and raising funds. After the project started crowdfunding, it raised 31,000 Bitcoins in just 42 days. A year after the fundraising, the Ethereum mainnet officially went live, marking the beginning of the blockchain 2.0 era.
Ethereum's founder, Vitalik Buterin, believes that if Bitcoin is compared to a portable calculator, then Ethereum is like a smartphone. In simple terms, Ethereum is a decentralized application platform built on blockchain technology, and the existence of smart contracts and DApps (Decentralized Applications) provides Ethereum with the potential to offer a broader framework for users and developers.
In the Ethereum white paper, Vitalik Buterin mentioned, "The goal of Ethereum is to provide a blockchain with a built-in mature Turing-complete programming language, which can be used to create contracts for coding, thus achieving arbitrary state transition functions."
Technically speaking, the Ethereum blockchain is a digital asset system, thus the transition from Bitcoin to Ethereum, from blockchain 1.0 to 2.0, represents a shift from digital cash to digital assets. Fast forward ten years, shortly after Ethereum emerged, no one would have thought it could break through the 100-1,000 mark when it was at 1 dollar, and it is still in its early stages.
