222

{spot}(ETHUSDT)
From the end of mining to the return of value, Ethereum upgrades reshape a new Web3 ecosystem

With over 10 years of deep cultivation, Ethereum has never stopped evolving. From the Shapella upgrade that completely ended the mining era, completing the final loop of the proof-of-stake mechanism, to the Pectra and Fusaka upgrades that continuously reduce costs and improve efficiency, each hard fork is a self-renewal, and each technological breakthrough is a firm layout for the future of the ecosystem.

We witness that the Shapella upgrade has opened the staking withdrawal function, unlocking nearly 240,000 ETH without triggering a market crash, instead driving ETH prices steadily upward, confirming the market's high recognition of Ethereum's value—this is not only the end of the “mining” era but also a new starting point for decentralized finance, allowing stakers to have more flexible asset management rights and promoting DeFi towards the 3.0 era.

We are experiencing that the upgraded Ethereum ecosystem is bursting with new vitality: the significant decrease in Gas fees has freed ordinary users from the constraints of high costs, allowing everyone to easily participate in the on-chain ecosystem; the continuous maturity of Layer 2 has achieved a qualitative leap in transaction speed and throughput, with TPS approaching 100,000+, and various sectors such as DeFi, NFT, RWA, AI+Crypto are thriving, with projects like Pendle and Ethena experiencing explosive growth in TVL, and the NFT market also witnessing a recovery, with daily trading volume increasing by 41% year-on-year.

From 0 to 1, from an experimental public chain to the core of global digital asset settlement, Ethereum's upgrades have never been isolated technological iterations, but rather a matter of faith, ecosystem, and the value co-existence of every participant. It continues to use