#以太坊大户持仓变化 The recent Ethereum upgrade actually has some hard data backing it up.

Let's first look at the on-chain situation:

In terms of staking, over 20% of the circulating supply is locked on the Beacon Chain, indicating that it's not just short-term speculation—there are genuine long-term bets being placed. The ecosystem activity is also quite high—over 500,000 active addresses daily, and DeFi total value locked (TVL) reaching $40 billion. These are real reflections of network effects. Most importantly, after the Merge, energy consumption has dropped by 99.9%, solving the ESG concerns that worry institutional investors, reducing the psychological burden for large players to enter.

The key move for scalability—Danksharding

This isn't about directly increasing the main chain's speed, but rather changing the approach. Through data availability sampling, it opens data channels for Layer 2 Rollups, effectively providing nearly unlimited data bandwidth. As a result, Rollup transaction fees can decrease by 1-2 orders of magnitude, making users' gas fees feel much more affordable. The testnet has already demonstrated feasibility.

What might happen within the ecosystem

As performance improves and costs decrease, older applications can unlock more potential, and new use cases will emerge. During this process, assets with genuine community backing and strong cultural identity often benefit early from the redemptive phase. The performance of popular tokens like $ETH and $DOGE , including PEPE, partly reflects the vitality of their underlying communities.

Looking at risks calmly

Current prices may have already priced in some optimistic expectations about the upgrade. History shows that markets tend to overreact before major upgrades. The real strategy is: let the data speak, and don't be swayed by emotions. Until the technology is truly implemented and real user data appears, it's wise to remain cautious with positions. The biggest weapon in crypto trading isn't predicting prices but patience and risk management.