以太坊在 4,000 美元以下是便宜货。这就是为什么

众所周知，以太坊（加密货币：ETH）今年经历了艰难的时期。尽管目前情况看起来黯淡，但有理由相信以太坊仍然具有巨大的潜力。

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.

随着以太坊（加密货币：ETH）的交易价格继续低于 4,000 美元，一些投资者可能想知道它是否仍然便宜。毕竟，按市值计算的第二大加密货币今年与加密市场的其他部分一样经历了艰难的运行。

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.

尽管目前情况看起来黯淡，但有理由相信以太坊仍然具有巨大的潜力。反弹不会在一夜之间发生，但对于长期投资者来说，我不确定是否有像以太坊那样具有如此清晰的未来升值路径的加密货币。

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

以下是我认为 4000 美元以下以太坊值得买入的三个原因。

1. A slip in Bitcoin dominance looms

1. 比特币主导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.

近两年来，比特币（加密货币：BTC）的主导地位（一种量化比特币相对于所有加密货币的价值的指标）一直在上升。这种趋势虽然有时会让山寨币爱好者感到沮丧，但却是牛市复苏的典型标志。比特币通常充当资本进入加密货币领域的门户，作为一种相对“更安全”的资产吸引投资者的兴趣。

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.

但随着市场稳定和信心增强，资本往往会从比特币流出并流入山寨币。作为最大的山寨币，当这种转变不可避免地发生时，以太坊将受益匪浅。

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.

目前尚不清楚这种转变何时会发生，但比特币的主导地位保持较高水平的时间越长，我们就越有可能开始看到它下跌。当这种情况发生时，以太坊可能会弥补一些基础。

2. Ethereum's central role in the DeFi ecosystem

2. 以太坊在 DeFi 生态系统中的核心作用

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.

以太坊的案例不仅仅局限于更广泛的市场趋势。从几乎所有指标来看，以太坊都是数字经济中最重要的领域之一 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 应用涵盖了广泛的金融活动，从借贷到交易和质押，它们正在以更低的成本和更少的中介机构颠覆传统金融。 Aave、Uniswap 和 Maker 等平台只是以太坊上构建的众多 DeFi 项目中的几个，每个平台都为以太坊作为去中心化金融首选区块链的地位做出了贡献。

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 生态系统中超过 50% 的价值都以以太坊为家。尽管有些人可能预计随着竞争对手的出现，这种主导地位会逐渐下降，但现实却恰恰相反。以太坊对 DeFi 的控制依然强劲，这要归功于一个关键因素：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，安全至关重要。由于数十亿美元的用户资金受到威胁，开发人员绝大多数选择以太坊，因为它具有良好的稳定性和弹性记录。随着 DeFi 的扩张，几乎所有迹象都表明它会持续增长，以太坊作为这个不断发展的金融生态系统支柱的角色可能在未来几年变得更加重要。

3. Ethereum's pioneering role in asset tokenization

3. 以太坊在资产代币化方面的先锋作用

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.

考虑在 3,000 美元以下购买以太坊的另一个令人信服的理由是它在蓬勃发展的代币化资产世界中的核心作用。代币化是将房地产、股票、债券甚至艺术品等现实世界资产转换为区块链上的数字代币的过程，正在改变金融业——而以太坊正在引领这一潮流。

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.

代币化资产具有多种优势，包括部分所有权、更快的结算时间和更低的交易成本。这些优势引起了渴望精简和现代化运营的主要金融机构的注意。

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经在这一领域取得了长足的进步。 2024 年 3 月，全球最大的资产管理公司贝莱德推出了代币化货币市场基金 BUIDL。最近，瑞银紧随其后，推出了代币化基金 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.

这两只基金都建立在以太坊区块链上，为投资者提供了一种在加密生态系统中接触传统金融产品的方式。随着越来越多的金融机构推出自己的代币化基金，以及对代币化资产的需求不断增长，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，以太坊区块链上价值超过 30 亿美元的资产被代币化，而其最接近的竞争对手 Stellar 上的代币化资产仅为 3.9 亿美元。随着金融巨头越来越多地采用基于区块链的代币化解决方案，这种显着的领先优势使以太坊处于领先地位。

Long story short, Ethereum remains a bargain buy

长话短说，以太坊仍然是便宜货

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.

在当今市场上，投资 4,000 美元以下的以太坊可能会让人感觉有风险，但其上行潜力却不容忽视。随着比特币的主导地位可能开始消退、以太坊在 DeFi 领域的既定地位及其在资产代币化方面的领导地位，其长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，以太坊就达到了超过 4,600 美元的高点。从那时起，区块链的发展和创新只会加速。如果以太坊能够达到这样的估值，那么未来就有充分的理由实现显着增长。

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

能涨多高？只有时间才能证明一切。但它可能会超过 4,000 美元，甚至可能远远超出其历史高点。