#ETH巨鲸增持 ETH is actually doing what now? Many people may still be stuck in the concept of a "world computer", but the reality is - it has long stopped playing that trap.

Ethereum in 2025 is going all in on a more pragmatic positioning: a global settlement layer. It doesn't sound as sexy, but this is the key to its breakthrough. After the Fusaka upgrade goes live, data availability sampling (DAS) directly cuts the pressure on nodes by more than half, and the Gas limit has skyrocketed from 30 million to 60 million. What does that mean? The network's processing speed can now reach 20 million Gas per second, doubling the throughput.

Looking at the flow of money again. More than a quarter of ETH is locked in staking, and the circulating supply is shrinking. Fusaka has also set a floor price for blob trading, which calculates to an additional nearly $78.6 million in earnings per year. Deflation + staking rewards + institutional buying, the triple flywheel is already turning.

Speaking of institutions, this wave of entry is really fierce. Companies' finances and ETFs combined hold $46.2 billion worth of ETH, and BlackRock's fund reached an asset size of over $10 billion in just a few months. What's even more exaggerated is that the ETH stock on centralized exchanges has dropped to a historical low of 4.9%—the big players are hoarding, not trading.

Solana is indeed very lively, but in terms of the developer ecosystem, Ethereum remains the king. There are over 4,000 monthly active developers, and Layer 2 has already taken over 58.5% of the transaction volume. It seems that the path of modular expansion is the right one.

The technical route is stable, and funds are pouring in. The tokenization of RWA( real-world assets ) in this trillion-dollar market has just begun. ETH is no longer just a pure cryptocurrency project; it is becoming the electricity, water, and coal of the digital economy. Whether this transformation succeeds will determine if it can maintain its core position in the Web3 era.

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