The launch of a project like PUMP is usually the end of a narrative. SOL may soon be over, meme will also be over, platform innovation is exhausted, the market is tired of meme aesthetics, and soon it will be time to change gears No matter how you think about it, Ethereum will win 1. Defi faucets: morpho, aave, and pengu, the leading copycat of coin stock ETF IP, also originated from Ethereum 2. The out-of-circle narrative refers to the market in 20~22 years, and the upper limit of the market value of copycats will be greatly increased 3. PoS interest-bearing attributes, carrying large funds outside the circle 4. The current price does not exceed the cost line of the big car SharpLink too much (excluding the discounted price OTC, the average public data is between 2667 and 2900), and there are still several car heads that are constantly increasing their positions. A bunch of micro-strategy imitation disks only look reliable in ETH 5. The SOL/ETH exchange rate is high, and the Eth/BTC exchange rate is low 6. The essence of Base is the adopted son of Ethereum, plus the resources of coinbase's father, this is the relationship between the United States and the United Kingdom, Ethereum is the British Empire at the beginning of the 19th century, and the last hundred years is the glorious sunset 7. All RWA and stablecoin narratives are positive for Ethereum 8. There has been a shift in the Foundation's strategy and attitudes, and a sense of urgency and momentum has risen Solana is the time when the in-circle narrative is in power, and ETH is the time when the out-of-circle narrative is in the way In the past two years, PvP has essentially been dominated by the fact that liquidity outside the circle has not come in, and the market can only hold up the upper limit of about 1b. When the expectation of interest rate cuts lands, TradFi will enter in a big way, and the most bearable is ETH 3100 should be just the beginning, and a new high for Ethereum is inevitable