以太坊（ETH）仍然是分散融資（DEFI）和智能合約申請的領導者

以太坊（ETH）仍然是分散財務（FAFI）和智能合同應用的領導者，但它處於十字路口。

Mainstream narratives have painted a dark picture of Ethereum’s developer exodus and network activity.

主流敘事描繪了以太坊開發人員出埃及記和網絡活動的黑圖。

However, critics question the relevance of the largest altcoin in the shifting crypto industry, putting the altcoin’s future under intense scrutiny.

但是，批評家質疑最大的山寨幣在轉變的加密貨幣行業的相關性，使山寨幣的未來受到了嚴格的審查。

But, as pessimism reaches its peak, Ethereum’s most diehard supporters see an opportunity.

但是，隨著悲觀主義達到頂峰，以太坊最頑固的支持者看到了機會。

“This is a bottom signal. Mainstream media almost always get the timing wrong,” a user on X remarked.

X上的用戶說：“這是一個底部信號。主流媒體幾乎總是會弄錯時間。” X上的用戶說。

According to the user, Ethereum Layer-2 (L2) solutions continue to dominate chain activity, while real-world asset (RWA) growth on Ethereum looks “exponential.”

根據用戶的說法，以太坊2（L2）解決方案繼續主導鏈活動，而現實世界中的以太坊的增長看起來“指數”。

“No one is talking about L2 chain activity which is still massively in favor of ETH.”

“沒有人在談論L2鏈活動，它仍然非常支持ETH。”

Other users also reacted to the Bloomberg article, which renewed bullishness.

其他用戶也對彭博社文章做出了反應，該文章更新了看漲。

“Was starting to feel bearish but this post has me all bulled up again,” one added in a post.

一個人在一篇文章中補充說：“開始感到看跌，但這篇文章讓我又被欺負了。”

These responses, among others, speak to Ethereum’s strong community, which has tended to shine in the face of adversity and innovation.

這些回應包括以太坊的強大社區，這在面對逆境和創新時傾向於發光。

There is no political spectacle for Ethereum, unlike Bitcoin, with growth hinging on scalability and real-world use.

與比特幣不同，以太坊沒有政治奇觀，增長依賴於可擴展性和現實世界的使用。

Recently, Buterin outlined a roadmap to Ethereum’s L2 ecosystem, calling for funding of open-source development to guarantee continued progress.

最近，巴特林概述了以太坊L2生態系統的路線圖，呼籲為開源開發提供資金，以確保持續的進展。

His vision is already coming to fruition as projects like Celo successfully transition to Ethereum layer-2 solutions. As BeInCrypto reported, Celo completed the migration after 20 months of testing, which aimed to improve scalability and transaction efficiency.

隨著諸如Celo之類的項目成功過渡到以太坊2層解決方案，他的願景已經實現。正如Beincrypto報導的那樣，Celo在測試20個月後完成了遷移，旨在提高可擴展性和交易效率。

Adoption of Ethereum’s L2 scaling solutions, such as Arbitrum, Optimism, and Polygon, has also increased.

採用以太坊的L2縮放解決方案，例如仲裁，樂觀和多邊形，也有所增加。

This aligns with Buterin’s perspective that sustainable blockchain growth comes from strengthened infrastructures, not hype-driven narratives.

這與Buterin的觀點相吻合，即可持續區塊鏈增長來自加強基礎設施，而不是炒作驅動的敘述。

These moves indicate that while speculation on Ethereum may be declining, long-term technological adoption could pick up the slack.

這些舉動表明，儘管對以太坊的猜測可能正在下降，但長期採用的採用可能會彌補這一措施。

Can the Pectra Upgrade Flip the Narrative?

Pectra可以升級敘事嗎？

Likewise, Ethereum managed to overcome challenges through significant upgrades. Against that backdrop, its soon-to-be-released Pectra Upgrade could be revolutionary.

同樣，以太坊通過重大升級克服了挑戰。在這種背景下，其即將發布的Pectra升級可能是革命性的。

Though delays have frustrated some in the community, the upgrade is anticipated to offer improved security, transaction efficiency, and developer-friendly tools.

儘管延遲使社區中的一些人感到沮喪，但預計升級將提供提高的安全性，交易效率和對開發人員友好的工具。

Ethereum’s continued commitment to innovation and ongoing testnet trials may be the perfect catalyst for reclaiming its DeFi throne. The network’s dominance in decentralized finance (DeFi) and NFT (non-fungible tokens) ecosystems proves particularly resilient.

以太坊對創新和正在進行的TestNet試驗的持續承諾可能是收回其Defi The Rone的完美催化劑。該網絡在分散的金融（DEFI）和NFT（無殺菌令牌）生態系統中的主導地位被證明是特別有彈性的。

Indeed, meme coins and speculative trading have shifted to faster chains such as Solana.

實際上，模因硬幣和投機性交易已轉變為諸如Solana之類的鏈條。

That said, when it comes to high-value applications, Ethereum is still at the heart of it all — from decentralized exchanges (DEXs) to institutional-grade financial products.

也就是說，在高價值應用程序方面，以太坊仍然是所有這一切的核心 - 從分散交流（DEX）到機構級金融產品。

The question now, however, is whether Ethereum’s focus on real-world adoption can preserve and outlast Bitcoin’s dominance in the halls of political and financial attention.

但是，現在的問題是，以太坊對現實領養的關注是否可以保留並超過比特幣在政治和財務關注大廳中的主導地位。

With the Pectra upgrade on the horizon and a community loyal to the chain’s dominance in the ecosystem, Ethereum may soon show again that its greatest strength lies not in the hype but in resilience and innovation.

隨著Pectra升級的升級和一個忠於該鏈在生態系統的統治地位的社區，以太坊可能很快就會再次表明其最大的優勢在於炒作，而是在彈性和創新上。

Despite community optimism, Ethereum’s price is down by 2.22% in the last 24 hours. BeInCrypto data shows ETH was trading for $1,842 as of this writing.

儘管社區樂觀，以太坊的價格在過去24小時內下跌了2.22％。 Beincrypto數據顯示，截至撰寫本文時，ETH的交易價格為1,842美元。