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The ETH in hand inexplicably rose by 10 points.

CN
加密韋馱|Skanda 🔶
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2 years ago
AI summarizes in 5 seconds.

The ETH in my hand inexplicably rose by 10 points.

I don't hold any L2 coins, but I still believe that ETH's rise is a correction rather than a sector outbreak, and there has been no improvement in its fundamentals on the 24-hour chart.

OP is like a favorite son, with Metis and Arb both doubling in response to progress on Vitalik's roadmap, indicating that the entrepreneurial situation for the ETH group "to V" has intensified.

The entire sector still lacks a low-liquidity new narrative asset that retail investors can get on board with, and it remains the same old DeFi, represented by Harry Potter-themed ETH memes, while the meme level at the L2 level is disappointing. These are sectors that have already been fully priced in for one or even multiple cycles, and even trapped across cycles.

As a fork launched in 2017, ETH has seen interest groups highly solidified after two cycles, with severe dev orientation singularity. The biggest enemy of a fork is another more popular fork, and ETH urgently needs a competitive new fork and new hero. Considering the recent high demand for gaming in the market, I believe that gaming may be the frontline savior launched to compete with BTC and Solanavax.

However, the gaming sector involves huge costs and has trapped many in the primary market in the previous cycle. From recent listings and public opinion, there is a strong momentum for funds to rush to list and launch games. But times have changed, and it's hard to buy into the idea of big productions and games targeting Web2 players. Don't believe it? Please see the community's choice using the xpet below my post. As for the entire chain game, it may be a story that the market has not heard of, but I find it hard to imagine how it will specifically break out now.

If the ETH oligarchs and exchanges cannot return to a grassroots mentality at this time, we may soon witness the most ridiculous - ETH doomsday market.

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