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There are suddenly more people talking about Ethereum in the market. It is obvious that on social platforms, the slogans of the rise of Ethereum have appeared again and one after another.ETH price pictures.Not long ago, this former leader of the copycat was once looked at by everyone intentionally or unintentionally.In the final analysis, in this bull market, ETH’s performance is really unsatisfactory. People who are interested even compared the price of ETH when BTC broke through $100,000 for the first time to the seventh time. The result was that ETH fell all the way, even one step away from $1,300. ETH/BTC hit five-year lows in succession. When will the copycat season arrive and whether it can still come has become an unsolvable problem in the market.
Compared with previous bull markets, this round of bull market is a bull market for Bitcoin, but not a bull market for crypto markets.Bitcoin has been going high, and diamond players have received rewards, but some are happy and some are worried, while Ethereum holders complain.last yearOn December 17, Bitcoin broke through the $100,000 mark for the first time, and ETH reached the peak of this round of $4,100. Since then, Bitcoin has hit $100,000 many times, but correspondingly, ETH is weak. In the seven breakthroughs, ETH fell from $4,100 to $1,900. In the Liberation Day tariff farce on April 6, ETH was even smashed and hit a low of $1,385 in a short period of time.
In terms of content, the important content of upgrading is the execution layer hard fork andThe Electra consensus layer upgrade covers 11 Ethereum improvement proposals (EIPs). For example, EIP-3074 and EIP-7702 introduce account abstraction, EIP-7251 increases the maximum mortgage amount of the verifier from 32 Ethereum to 2,048 Ethereum, and EIP-7691 adjusts the number of blobs and pricing mechanisms, etc.Specifically, Pectra has made major updates to the core user experience by implementing smart account and delegation functions; upgraded the pledge function to make it easier for institutions and individual investors to ensure network security; and greatly improved integration with the second-tier network (L2), doubled network efficiency.Overall, this upgrade focuses on practicality and security, reflecting the migration of Ethereum from computing infrastructure attributes to financial infrastructure attributes, and still has a profound impact on the subsequent development of Ethereum.
Affected by this, global financial markets began to rebound, and the Dow Jones Industrial Average rose from the previous trading day254.48 points, closing at 41368.45 points, an increase of 0.62%; the Nasdaq Composite Index rose 189.98 points, closing at 17928.14 points, an increase of 1.07%.The crypto market responded quickly, and the following effect was highlighted. Bitcoin broke away from the volatility zone and returned to US$100,000. ETH rose by more than 20% in a single day, and XRP, BNB, and Solana also had good gains.
Against this background, some industry insiders have also proposed that Ethereum isThe big show of muscles after “changing the dealer” makes the latecomers pay for the new narrative.For example, X user @Murphychen888 used the Herfendal index for analysis, pointing out that after December 24, the concentration of ETH’s chips was rising rapidly.However, some people believe that compared with the 3.45 million ETH held by institutions in ETFs, the total amount of POS pledge exceeds 31 million, accounting for 28.3% of the total ETH volume. It is quite a sense that the gains are not worth the loss.
It is worth noting that although the rise is gratifying and even the market is confused, it is far from the point of view of the ecology itself.FOMO degree.In terms of price, ETH is only US$2,500, and the price performance can only be described as unsatisfactory in the cycle. The ETH/BTC exchange rate is now at 0.02423, which is an unquestionable historical low.Even from the perspective of the ecological perspective, except for strong blue chips, other currencies have very limited follow-up rises. Most of the copycats are still more than 70%-80% away from the previous high, and new projects are even less popular.It can be seen that perhaps due to the previous heavy losses, the market seems to be in a wait-and-see and hesitation.<span yes’; font-size:10.5000pt;mso-font-kerning:1.0000pt;”>
Overall, although it has not yet reached its peak, the macro market is gradually improving, combined with the current situationETH only has a market share of 9.26%. There is indeed room for relatively underestimation in the price of ETH, but whether the short-term sprint can ignite the charge in the next round of market is still questionable, especially in the current unpredictable market, which is afraid of missing out on the opportunity and being trapped, and the difficulty of operation is increasing.But no matter what, Ethereum’s strong rise has finally brought the market’s attention back to this long-silent counterfeit leader, which may be more important for Ethereum today.
