Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 30+ AI models, with 0% extra fees
The logic of the bull market has long changed.
In 2021, ETH hit a peak with DeFi; it was a celebration of technological narratives, with hundreds of times coins blooming everywhere.
In 2024-2025, SOL and BNB supported the Meme sky, creating a wealth effect that directly maxed out. Meanwhile, Ethereum, which insists that "technology changes the world," failed to break new highs for the first time in this bull market.
Some say Ethereum's moat still exists. But the reality is, while other chains are competing to capture sentiment and indulge in human madness, it remains polishing its technology in place.
Bull markets never belong to those who stick to ideals; they only belong to tracks that can create hotspots and ignite emotions.
Ethereum's technological advantages have long been crushed by the efficiency, costs, and narratives of new chains.
In the next bull market, can it break new highs again? I see it as uncertain.