The recent market script for ETH has indeed been changing. Some leading holders have already begun large-scale buying, and the holding data from BitME clearly illustrates this—already reaching 4 million coins, accounting for 3.3% of the supply. Behind these big players' actions, there seems to be a deep liquidity locking strategy.

What's even more interesting is the signal from traditional finance. JPMorgan's tokenized fund MONY, to some extent, marks a turning point—Ethereum is being repositioned as the underlying asset for Wall Street's clearing infrastructure. This is not just a technical upgrade but a reorganization of the entire financial infrastructure concept.

From grassroots experiments to institutional-level applications, this process carries significant implications. The market landscape is quietly reshuffling, and the gap between true strategists and onlookers may be much larger than it appears on the surface.