尽管开发人员出埃及记和表现不佳，但以太坊（ETH）仍然是DEFI和智能合同申请的领导者

以太坊（ETH）仍然是分散财务（FAFI）和智能合同应用的领导者，但它处于十字路口。社区质疑以太坊的相关性

Despite still leading the decentralized finance (DeFi) and smart contract applications space, Ethereum (ETH) is at a crossroads.

尽管仍领导着分散的金融（DEFI）和智能合同应用空间，但以太坊（ETH）仍处于十字路口。

As the community discussed, the largest altcoin has faced increasing criticism, putting its future in the industry spotlight.

正如社区所讨论的那样，最大的Altcoin面临着越来越多的批评，将其未来置于行业焦点。

Mainstream narratives have focused on a bleak outlook for Ethereum, highlighting a developer exodus and overall network activity dropping 17% last year, compared to Solana’s 83% spike in developer engagement.

主流叙事的重点是以太坊的黯淡前景，强调了开发人员出埃及记，而整个网络活动去年下降了17％，而Solana在开发人员参与方面的高涨。

Moreover, Standard Chartered analysts slashed their year-end Ether price prediction by 60%, which they attributed to Ethereum’s “identity crisis” and unclear direction going forward.

此外，标准特许分析师将其年终以太​​价格预测削减了60％，这归因于以太坊的“身份危机”以及未来的方向不清楚。

This follows a bleak assessment of Bitcoin (BTC), which they said had lost the attention of mainstream media and politicians.

这是对比特币（BTC）的惨淡评估，他们说这已经失去了主流媒体和政客的关注。

Earlier this year, President Donald Trump’s pro-crypto stance saw Bitcoin take the stage, while Ethereum was largely ignored.

今年早些时候，唐纳德·特朗普（Donald Trump）总统的亲克赖特托（Crypto）立场看到比特币登上舞台，而以太坊则在很大程度上被忽略了。

Bitcoin’s ideological and political dominance began to take shape after the U.S. government’s bailout of Wall Street in 2008, paving the way for the cryptocurrency industry to flourish.

在2008年美国政府对华尔街的救助之后，比特币的意识形态和政治主导地位开始成立，为加密货币行业铺平了道路。

Trump’s administration also saw a shift in the U.S. administration’s stance on crypto, which had previously been focused on shutting down the industry.

特朗普政府还看到了美国政府对加密货币的立场发生了变化，该立场此前曾致力于关闭该行业。

In contrast, the narrative around Ethereum focused on the exodus of developers from the network, and a drop in network activity.

相反，以太坊的叙述集中在网络开发人员的出现以及网络活动下降。

This was largely driven by the adoption of meme coins and fast transaction speeds on Solana.

这在很大程度上是由于采用模因硬币和Solana上的快速交易速度所驱动的。

However, this narrative ignores the exponential growth of real-world assets (RWA) on Ethereum, and the continued dominance of Layer-2 (L2) solutions in chain activity.

但是，这种叙述忽略了现实世界资产（RWA）对以太坊的指数增长，以及链活动中第2层（L2）解决方案的持续优势。

“This is a bottom signal. Mainstream media almost always get the timing wrong. L2s continue to dominate chain activity and RWA growth on ETH is exponential.”

“这是一个底部的信号。主流媒体几乎总是会误解时机。L2S继续主导链活动，而对ETH的RWA增长是指数的。”

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

其他用户对彭博（Bloomberg）的文章做出了反应，后者带来了新的看涨。

“Was starting to feel bearish but this post has me all bulled up again.”

“开始感到看跌，但是这篇文章让我又被欺负了。”

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

这些反应包括以太坊社区的力量，这在面对逆境和创新时倾向于坚持不懈。

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

与比特币不同，以太坊没有政治奇观，其增长取决于可扩展性和现实世界的使用。

Recently, Buterin set out a roadmap for Ethereum’s L2 ecosystem, calling for the funding of open-source development to ensure continued progress.

最近，Buterin为以太坊的L2生态系统制定了路线图，呼吁为开源开发提供资金，以确保继续进步。

His vision is already coming to fruition as projects like Celo successfully transition to Ethereum L2 solutions. As BeInCrypto reported, Celo completed the migration after 20 months of testing, aiming to improve scalability and transaction efficiency.

随着像Celo这样的项目成功过渡到以太坊L2解决方案，他的愿景已经实现。正如Beincrypto报道的那样，Celo在测试20个月后完成了迁移，旨在提高可扩展性和交易效率。

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

采用以太坊缩放解决方案（例如仲裁，乐观和多边形）也有所增加。

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

这与Buterin的观点相吻合，即可持续区块链增长来自加强基础设施，而不是炒作驱动的叙述。

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

这些举动表明，尽管对以太坊的猜测可能正在下降，但长期采用的采用可能会弥补这一措施。