Ethereum ( ETH )'s current market performance has sparked some controversy. With its shift to the attestation ( PoS ) mechanism, stakers have gained considerable returns, which has somewhat driven up the price of ETH. However, under this high price state, the actual applications of the Ethereum network seem to have stagnated.

Many investors are now focusing on ETH, primarily due to its ability to generate returns, rather than its actual value as a decentralized application platform. This phenomenon raises a question: what will happen to its future if ETH loses its profit appeal?

It is worth noting that a healthy ecosystem should maintain a balance between investment returns and practical applications. Over-reliance on stake rewards while neglecting the actual utility value of the network may pose long-term risks to Ethereum.

To ensure long-term sustainable development, the Ethereum community needs to refocus on the practical applications and innovation of the network. Only by maintaining high returns while also attracting developers and users to participate in the ecosystem can ETH truly solidify its position as the leading smart contract platform.

The next few months will be a critical period to observe how Ethereum responds to this challenge. The market will closely watch whether ETH can maintain its investment appeal while also promoting substantial growth and application development within its ecosystem.