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白天研究链上项目,晚上追空投撸毛,梦想是用0成本拿下整个Web3。欧易币安火币三栖打工人,专注Meme、NFT、DeFi三件套,交易日记写得比情书还勤,目标是在熊市里笑到最后!

A Comprehensive Overview of Ethereum's 10-Year Journey

The ten-year journey of Ethereum is also my eighth year in the crypto space | The magnificent decade of Ethereum, my eight years of faith transformation——

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The ten years of Ethereum have witnessed the rise of the true WEB3 world and the flourishing growth of blockchain technology:
If Bitcoin is an awakening of currency, then Ethereum is a reconstruction of civilization.
And the ten years of Ethereum happen to be my eighth year in the crypto circle——
In these eight years, tides have risen and fallen, narratives have turned, I have personally experienced the ICO frenzy of 2017, the DeFi revival of 2020, the peak of the bull market in 2021, and I have also endured the collapse of LUNA, the demise of FTX, and countless nights of "ETH is done for."
Especially in this eighth year, the whole community began to FUD Ethereum, with voices of pessimism rising and falling, even former loyal ETH supporters were wavering.
But the more FUD there was, the more resolute I became. Because I do not rely on hype to judge the future; I stand with understanding on the main line.
The following is the "twisted journey of Ethereum" that I wrote four years ago, which is my anchor in holding onto ETH. Today, I have decided to continue writing it.
If you are an old fan, you will surely remember that in May four years ago, when Ethereum broke through $4000, I first published this text on my Weibo account [比特吴老湿]:

【The Twisted Journey of Ethereum】 (This article is priced in RMB)#

Many people do not know the origin of Ethereum (ETH) and its journey; I, Old Wu, will share this thrilling story from my personal experience, which is a hundred times more shocking than a TV drama, without further ado, let's get started:

  • Step one, in July 2014, ETH was issued at a price of 1.86 yuan, and it traded sideways in the range of 1.4 to 4 yuan for a whole year. Most people could not hold on and sold in the first year, basically without profit, and even at a loss.
  • Step two, in August 2015, it rose to 23 yuan, a 12-fold increase, and many people took profits and left; in November, it fell back to 2.7 yuan, a 90% drop. This round of big ups and downs saw over 90% of people sell their coins and leave, some cutting losses. During this stage, the "divine fish" sold 100,000 ETH for a price of a few tens of yuan; if not sold, it would now be worth two to three billion. But wait, do you think holding on at this time would be easy? Let's look at the exciting year of 2016 together!
  • Step three, in 2016, this year was particularly exciting. In March, it entered a bull run mode, soaring to 98 yuan, a 36-fold increase in one month, but unfortunately, less than 10% of people enjoyed the wealth increase. In April, a bolt from the blue, it fell to 45 yuan, and many shouted that Ethereum was a scam; little did they know, in June it rose to 138 yuan, in August it fell to 54 yuan, in September it rose to 92 yuan, and in December it fell to 38 yuan. This year was magnificent and full of ups and downs. Imagine if you held 100,000 ETH, could you hold on? To be honest, I, Old Wu, could not. I traded Ethereum in 2016, but only dared to operate short-term and incurred losses.
  • Step four, a glorious life began: although 2016 was tumultuous, it laid the foundation for Ethereum's popularity and market. In March 2017, it skyrocketed to 350 yuan, a 9-fold increase in three months; then ICOs became popular in China, with all projects issuing tokens on the Ethereum blockchain to raise ETH. From then on, its dominant position was established! No more suspense.
    Thus, in June 2017, it rose to 2660 yuan, a 70-fold increase in six months; in July it fell to 850 yuan, a 78% drop; in October it rose to 2520 yuan; in November it rose to 3280 yuan; in December it rose to 7510 yuan; in January 2018, it surged to the then highest of 9100 yuan.
    Three-year summary: In just over three years, it increased by 4900 times; do you think that’s exciting enough? The show continues to unfold, reminiscent of the past:
  • Step five: In 2018, the bear market began, washing out investors, dropping from over 9000 yuan in March to 2280 yuan, a 75% drop. In April it rose to 5380 yuan; in September it fell to 1070 yuan, an 88% drop. The most severe was in December when it fell to 525 yuan, a 90% drop.
  • Step six: In June 2019, it rose to 2350 yuan; in December it fell to 720 yuan; in March 2020, the panic of the 312 incident hit, dropping to 550 yuan, a drop of over 88%. After that, no one dared to touch Ethereum for a long time, until the rise of DeFi in October to December brought improvement, rising to 5720 yuan, regaining upward momentum.
  • Step seven: In May 2021, it rose to 28000 yuan.
    In less than six years, it increased by 15000 times; an initial investment of 1000 yuan could yield 15 million yuan, but that is all talk. Looking back at the storms I have experienced, I ask myself if I could truly hold on?
    Thus, I once said: The easiest ways to get rich in this circle are two: mining and holding coins. The underlying logic is the same.
    The easiest ways to become poor are two: investing in random projects and leveraged contracts.
    After years of ups and downs, only those who can hold on are the winners. Great wealth does not require much intelligence, just enough patience; those who achieve great things must have great perseverance.

The above text has been widely circulated and is my anchor in holding onto Ethereum. Now I have decided to continue this legend (the following is priced in USD):

  • Step eight, the story of the past two years.
    In 2022, Ethereum made a historic leap: The Merge went live, transitioning the mainnet from PoW to PoS, reducing energy consumption by 99%, ending mining, and initiating expectations of "ETH deflation." At that time, the popular saying in the circle was: Bitcoin is the gold of the past, Ethereum is the financial internet of the future.
    But the market did not take off; instead, it was hit by the collapses of LUNA, FTX, and others, with ETH dropping from $3500 to $1100. Another round of collapse and reshuffling, another round of faith questioning.
    And I did not escape this time.
    I began to understand that the ETH story was no longer a speculative script, but a grand narrative rooted in the reform of the financial order.
    It carries the technical foundation of almost all mainstream narratives, including stablecoins, DeFi, RWA, Restaking, AI chains, etc. It is the smart contract platform with the most global developers, the widest applications, and the most prosperous ecosystem, the "king of protocols" in the public chain world.
    You may question its high cost, slowness, being divided by Layer 2, and governance chaos, but you cannot ignore: regardless of bull or bear, regardless of how new public chains innovate, key assets and funds still choose Ethereum as the ultimate "settlement layer."
    In the eighth year, I am still here. I am still buying ETH.
    2023 is a special year.
    Starting in 2023, the whole community began to FUD Ethereum.
    Some say it cannot rise as much as altcoins, some say it is congested, has high gas fees, and inefficient governance; many claim it is inferior to new public chains, useless to hold; some bet on "new paradigm public chains," Solana, AI chains, modular chains... even some say "ETH will be the next LUNA."
    On social media, the rhetoric is everywhere: "The era of Ethereum has passed," and those holding ETH are foolish!
    Yet I am in the midst of it all. But I have never wavered. I still speak of Ethereum's logic, value, and future.
    Because I firmly believe:
    The value of Ethereum lies not in short-term hype, but in its position as a global financial operating system, quietly penetrating the world.
    Stablecoins are Ethereum's first killer application, with hundreds of billions of USDT/USDC mostly issued on Ethereum and compatible chains;
    80% of DeFi protocols have ETH as the core settlement asset;
    RWA, AI, Restaking, Layer 2 modular ecosystems... almost all narratives ultimately fall on Ethereum or its derivative networks.
    It is the endpoint of capital flow, the anchor point of narratives, the highest level of security.
    On this day when the whole community FUDs Ethereum, it is precisely my most reassuring eighth year.
    I once wrote: "ETH is a financial civilization being slowly built, not a speculative container, but the framework for global value collaboration."
    Ten years have passed, tides have risen and fallen, narratives have thrived and waned, we have witnessed too many stories of explosive popularity and sudden silence, behind the enthusiasm lies a cold bubble, yet the main line of ETH remains unbroken, step by step proving itself from concept, protocol, code, application to consensus.

I do not bet on trends; I bet on the main line.
I do not chase explosive points; I guard the foundation.
May in the next decade, we still be present, still telling the story of ETH, not out of faith, but out of understanding.
Not because it can make one rich, but because I see it becoming "irreversible infrastructure," a consensus container for future global assets, identities, and collaboration.
Ten years, one chain, one person, a fate intertwined.
The script of Ethereum has never repeated, yet it always bets on the future.
May we hold onto our original intentions amidst the storms, and together embark on the next great journey in the cycle.
Focus on the ten years of Ethereum, focus on the OKX 50% off ETH purchase event:
Entrance: https://www.okx.com/
Thank you for reading this far, loyal fans of Ethereum; you will surely make a lot of money!

from @BITWU.ETH

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