A few years ago, who would have thought that ETH's peak this cycle would stop here? Even during the most FOMO moments, it was only a few dozen dollars higher than the peak in November 2021. The second-highest point this cycle was just at the shoulder level of the latter half of 2021. The height brought by the U.S. stock spot ETFs + MicroStrategy's massive public purchases of Ethereum is just this much. From traffic driven by tech innovation + financial innovation to traffic directly driven by capital, what’s next?