jakiro
Source: Daoshuo Blockchain
In the message at the end of Thursday’s article, a reader mentioned: The last round of market was a double-headed top.
The last round of market did indeed come out of two tops.
But there is a factor that cannot be ignored for it to emerge from such a market: that is, after the first top, Ethereum has a new round of innovation led by NFT.
And NFT’s innovation is more unique than DeFi—–it’s become out of the box.It has influenced celebrities from all walks of life in the traditional ecosystem: sports stars, talk show stars, entertainment stars, etc., and has also influenced traditional art institutions – some contemporary art museums including the United States, Germany and other countries have used some classic NFTs in Ethereum (such as crypto punk) as artworks to include their contemporary art collections; Christie’s and Sotheby’s auctioned several batches of top NFTs in the Ethereum ecosystem.
This influence is very rare among all innovations in the crypto ecosystem.
It is under the leadership of this innovation that the entire crypto market has reached the second top, and the second top has surpassed the first top.
This is the importance of innovation, and it is also the reason why the internal factors of the crypto ecosystem are far more important than external factors.
So I wrote in the last issue:
“If the crypto ecosystem itself does not show disruptive and continuous innovative applications and business models in the second half of the year, it is likely that Bitcoin’s trend in the second half of the year will still be strongly affected by the US stock market.”
“If the crypto ecosystem itself can have miracles in the second half of the year and produce disruptive innovation and applications, then the rise of Bitcoin will be another logic.”
This is true for Bitcoin, and even more so for Ethereum.
This round of Ethereum fell from nearly $4,000 to as low as $1,500, and then rebounded to $2,500 now.It seems to make the market more popular again, but this passion seems to me to have limited significance.On the one hand, this increase was largely driven by Bitcoin, and on the other hand, this has a little bit of an oversold increase.
If Ethereum wants to achieve stable and solid market conditions in the second half of the year, it also requires strong innovation.
Although the AI + Crypto sub-ecosystem has begun to recover a certain amount of vitality, its influence has not been enough to spread to the entire crypto ecosystem at least so far, and it is not enough to become the main driving force driving the rise of the Ethereum market.
Therefore, if the crypto ecosystem still does not have strong innovation in the second half of the year, and it is still like this now, it may be difficult to break through the previous round of new highs.Even if it can break through the previous round of highs, that price is not solid and may collapse at any time.
A reader asked in an online exchange on Saturday: If Ethereum rose to $10,000 per coin in the second half of the year, would I sell it?
First of all, I think if the entire crypto ecosystem develops as lukewarm as it is now, the possibility that Ethereum can rise to $10,000 is very small; but if it really rises to $10,000 unexpectedly, I will probably sell a considerable portion of it because that price is obviously overestimated.
Unless there is an innovation miracle in the ecology, that $10,000 may not be high and is worth keeping.
Therefore, whether to sell or not depends on the development status of the ecology at that time, rather than simply using the absolute price as the standard.
Regarding the possibility of the development of the Ethereum ecosystem, it seems that more and more traditional institutions have begun to build their own infrastructure around Ethereum, especially the layout of domestic Internet giants in this regard is worth noting.
For example, Ant Group recently announced a news that it will build a second layer of expansion based on Ethereum.
The relevant senior management talked about the details of this layout in an interview, and the general idea was:
Ant builds an alliance chain in the country and handles domestic business completely in the form of domestic laws.
Overseas (Hong Kong), a license-free Ethereum layer 2 expansion is built as a “public chain”.This second-layer expansion will not issue coins.But because it is license-free, anyone can deploy the app on it.However, the projects issued by Ant itself will still operate in a licensed manner.
In addition, Ant will use a cross-chain bridge to communicate domestic alliance chains and overseas second-layer expansions.
I guess this may be a typical way for many traditional financial institutions or companies to enter the crypto ecosystem in the future.
These institutions will benefit Ethereum into the Ethereum ecosystem, but most of the projects they issue have nothing to do with us retail investors.So far, the second-layer expansion built by a pure crypto ecological team is a blessed place for retail investors.
