May 27, 2026

It has been a while since I last updated; recently, I've been quite busy with some matters, and coupled with the market being pretty boring, after a wave of imitation coins, it has dropped again. I will still update intermittently in the future, mainly to keep track of some major directions. I noticed that recently there have been a lot of news about Ethereum, mostly negative. The most straightforward is that many people are selling tokens, whether institutions or early investors, with various reasons—either saying Ethereum's ecosystem development is limited, or that Ethereum's price has fully reflected its value, or that Vitalik is preparing to step back, which is also bearish.

The last time I saw such dense bearish sentiment was when the SOL exchange rate surged past Ethereum. At that time, SOL stood out among public chains thanks to its meme coin rally, and its exchange rate suppressed Ethereum heavily. Various opinions emerged then, collectively bearish on Ethereum. I remember when I was still optimistic about Ethereum, I was also criticized by many. As it turned out, SOL's explosive rise driven by meme coin hype was just a short-term wave. The subsequent trend is well known—ETH rose from 2000 to 5000, and those who swapped ETH at high SOL prices are now crying helplessly.

Of course, Ethereum's weakness is also a fact, but the amplitude of this wave's highs and lows has been more moderate. The current sluggish ecosystem development is an undisputed fact. Regarding Vitalik's stepping back, according to his statements, he wants to gradually detach ETH from his personal opinions and influence. I feel this is a positive development.