以太坊在 4,000 美元以下是便宜貨。這就是為什麼

眾所周知，以太坊（加密貨幣：ETH）今年經歷了艱難的時期。儘管目前情況看起來黯淡，但有理由相信以太坊仍然具有巨大的潛力。

As Ethereum (CRYPTO: ETH) continues to trade below $4,000, some investors may be wondering if it's still a bargain. After all, the second-largest cryptocurrency by market cap has had a tough run this year, along with the rest of the crypto market.

隨著以太幣（加密貨幣：ETH）的交易價格繼續低於 4,000 美元，一些投資者可能想知道它是否仍然便宜。畢竟，按市值計算的第二大加密貨幣今年與加密市場的其他部分一樣經歷了艱難的運行。

But while things may look bleak at the moment, there are reasons to believe that Ethereum still has immense potential. A rebound won't happen overnight, but for the long-term investor, I'm not sure there are as many cryptocurrencies out there with such a clear path for future value appreciation as Ethereum.

儘管目前情況看起來黯淡，但有理由相信以太坊仍然具有巨大的潛力。反彈不會在一夜之間發生，但對於長期投資者來說，我不確定是否有像以太坊那樣具有如此清晰的未來升值路徑的加密貨幣。

Here are three reasons why I think Ethereum is a bargain buy below $4,000.

以下是我認為 4000 美元以下以太坊值得買入的三個原因。

1. A slip in Bitcoin dominance looms

1. 比特幣主導地位的下滑迫在眉睫

For almost two years now, Bitcoin (CRYPTO: BTC) dominance (a metric that quantifies Bitcoin's value relative to all of crypto) has been on the rise. This trend, while sometimes frustrating for altcoin enthusiasts, is a typical hallmark of a recovering bull market. Bitcoin often acts as the gateway for capital entering the crypto space, drawing investor interest as a relatively "safer" asset.

近兩年來，比特幣（加密貨幣：BTC）的主導地位（一種量化比特幣相對於所有加密貨幣的價值的指標）一直在上升。這種趨勢雖然有時會讓山寨幣愛好者感到沮喪，但卻是牛市復甦的典型標誌。比特幣通常充當資本進入加密貨幣領域的門戶，作為一種相對「更安全」的資產吸引了投資者的興趣。

But as markets stabilize and confidence builds, capital tends to flow outward from Bitcoin and into altcoins. As the largest altcoin, Ethereum stands to benefit enormously when this shift inevitably occurs.

但隨著市場穩定和信心增強，資本往往會從比特幣流出並流入山寨幣。作為最大的山寨幣，當這種轉變不可避免地發生時，以太坊將受益匪淺。

There's no telling when this shift will happen, but the longer Bitcoin dominance remains elevated, the more likely we are to begin seeing it fall. And when that occurs, Ethereum could make up some ground.

目前尚不清楚這種轉變何時會發生，但比特幣的主導地位保持較高水平的時間越長，我們就越有可能開始看到它下跌。當這種情況發生時，以太坊可能會彌補一些基礎。

2. Ethereum's central role in the DeFi ecosystem

2. 以太坊在 DeFi 生態系中的核心作用

The case for Ethereum goes beyond just broader market trends. By almost every metric, Ethereum is the backbone of one of the most important sectors in the digital economy, DeFi.

以太坊的案例不僅限於更廣泛的市場趨勢。從幾乎所有指標來看，以太坊都是數位經濟中最重要的領域之一 DeFi 的支柱。

DeFi applications cover a wide range of financial activities, from lending and borrowing to trading and staking, and they're disrupting traditional finance with the promise of lower costs and fewer intermediaries. Platforms like Aave, Uniswap, and Maker are just a few of the many DeFi projects built on Ethereum, and each has contributed to Ethereum's position as the go-to blockchain for decentralized finance.

DeFi 應用涵蓋了廣泛的金融活動，從借貸到交易和質押，它們正在以更低的成本和更少的中介機構顛覆傳統金融。 Aave、Uniswap 和 Maker 等平台只是以太坊上構建的眾多 DeFi 專案中的幾個，每個平台都為以太坊作為去中心化金融首選區塊鏈的地位做出了貢獻。

Today, over 50% of all value within the DeFi ecosystem calls Ethereum home. While some might expect this dominance to gradually decline as competitors emerge, the reality is quite the opposite. Ethereum's grip on DeFi remains strong thanks to a crucial factor: reliability.

如今，DeFi 生態系統中超過 50% 的價值都以以太坊為家。儘管有些人可能會預期隨著競爭對手的出現，這種主導地位會逐漸下降，但現實卻恰恰相反。以太坊對 DeFi 的控制依然強勁，這要歸功於一個關鍵因素：可靠性。

In DeFi, security is paramount. With billions of dollars in user funds at stake, developers overwhelmingly choose Ethereum due to its proven track record of stability and resilience. As DeFi expands, with virtually all signs pointing to continued growth, Ethereum's role as the backbone of this evolving financial ecosystem is likely to become even more central in the years ahead.

在 DeFi 中，安全至關重要。由於數十億美元的用戶資金受到威脅，開發人員絕大多數選擇以太坊，因為它具有良好的穩定性和彈性記錄。隨著 DeFi 的擴張，幾乎所有跡像都表明它會持續成長，以太坊作為這個不斷發展的金融生態系統支柱的角色可能在未來幾年變得更加重要。

3. Ethereum's pioneering role in asset tokenization

3. 以太幣在資產代幣化上的先鋒作用

Another compelling reason to consider buying Ethereum below $3,000 is its central role in the booming world of tokenized assets. Tokenization, the process of converting real-world assets like real estate, stocks, bonds, and even fine art into digital tokens on a blockchain, is transforming finance -- and Ethereum is leading the charge.

考慮在 3,000 美元以下購買以太坊的另一個令人信服的理由是它在蓬勃發展的代幣化資產世界中的核心作用。代幣化是將房地產、股票、債券甚至藝術品等現實世界資產轉換為區塊鏈上的數位代幣的過程，正在改變金融業——而以太坊正在引領這一潮流。

Tokenized assets offer several benefits, including fractional ownership, faster settlement times, and lower transaction costs. These advantages have captured the attention of major financial institutions eager to streamline and modernize their operations.

代幣化資產具有多種優勢，包括部分所有權、更快的結算時間和更低的交易成本。這些優勢引起了渴望精簡和現代化營運的主要金融機構的注意。

Some of the biggest names in finance are already making strides in this space. In March 2024, BlackRock, the largest asset manager in the world, launched its tokenized money market fund, BUIDL. More recently, UBS followed suit with its tokenized fund, uMINT.

金融界的一些知名人士已經在這一領域取得了長足的進步。 2024 年 3 月，全球最大的資產管理公司貝萊德推出了代幣化貨幣市場基金 BUIDL。最近，瑞銀緊隨其後，推出了代幣化基金 uMINT。

Both funds are built on the Ethereum blockchain and offer investors a way to gain exposure to traditional financial products within the crypto ecosystem. As more financial institutions launch their own tokenized funds, and as the demand for tokenized assets grows, Ethereum is well-positioned to benefit.

這兩檔基金都建立在以太坊區塊鏈上，為投資者提供了一種在加密生態系統中接觸傳統金融產品的方式。隨著越來越多的金融機構推出自己的代幣化基金，以及對代幣化資產的需求不斷增長，以太坊完全有能力受益。

Currently, over $3 billion worth of assets are tokenized on the Ethereum blockchain, compared to just $390 million on Stellar, its nearest competitor. This significant lead places Ethereum in a prime position as financial giants increasingly adopt blockchain-based solutions for tokenization.

目前，以太坊區塊鏈上價值超過 30 億美元的資產被代幣化，而其最接近的競爭對手 Stellar 上的代幣化資產僅為 3.9 億美元。隨著金融巨頭越來越多地採用基於區塊鏈的代幣化解決方案，這種顯著的領先優勢使以太坊處於領先地位。

Long story short, Ethereum remains a bargain buy

長話短說，以太坊仍然是便宜貨

Investing in Ethereum under $4,000 may feel risky in today's market, but the upside potential is hard to ignore. With Bitcoin's dominance likely to start fading, Ethereum's established presence in DeFi, and its leadership in asset tokenization, its long-term prospects remain compelling.

在當今市場上，投資 4,000 美元以下的以太坊可能會讓人感覺有風險，但其上行潛力卻不容忽視。隨著比特幣的主導地位可能開始消退、以太坊在 DeFi 領域的既定地位及其在資產代幣化方面的領導地位，其長期前景仍然引人注目。

Back in 2021, Ethereum reached a high of over $4,600. Since then, development and innovation on the blockchain have only accelerated. If Ethereum could command that valuation, then there's a solid case for significant growth ahead.

早在 2021 年，以太坊就達到了超過 4,600 美元的高點。從那時起，區塊鏈的發展和創新只會加速。如果以太坊能夠達到這樣的估值，那麼未來就有充分的理由實現顯著成長。

How high could it go? Only time will tell. But it's likely above $4,000 and possibly well beyond its all-time high.

能漲多高？只有時間才能證明一切。但它可能會超過 4,000 美元，甚至可能遠遠超出其歷史高點。