以太坊死了嗎？垂死區塊鏈的敘述

越來越多的敘述是“以太坊死了”，但這是真的嗎？一些分析師認為，雖然它不像以前那樣浮華

There’s a growing narrative that “Ethereum is dead,” But is it true?, Some analysts argue that while it’s not as flashy as it once was, Ethereum is evolving into the backbone of the entire crypto industry, and many people aren’t realising this shift, According to CC XV.

越來越多的敘述是“以太坊已經死了”，但是是真的嗎？ ，一些分析人士認為，雖然它並不像以前那樣浮華，但以太坊正在演變成整個加密貨幣行業的骨幹，許多人沒有意識到這一轉變。

Ethereum’s DeFi market has seen a decline, with its total value locked falling over 88% from its highest point, At the same time, Solana has pulled ahead in active users and transaction numbers because it’s faster and cheaper.

以太坊的Defi市場已經下降了，其總價值鎖定比最高點下降了88％以上，同時，Solana在積極的用戶和交易中取得了進步，因為它更快，更便宜。

At a glance: Ethereum price nearly 40% last week, surging from around $1,800 to $2,500.

一目了然：上週以太坊價格接近40％，從約1,800美元飆升至2,500美元。

High gas fees have pushed many users away, and DeFi and NFTs have moved to cheaper, faster chains, Yet it remains the most secure, trusted, and established blockchain, And it’s slowly getting better with new features like account abstraction, restaking, and other tools that make it easier and more useful for developers.

高汽油費已將許多用戶推開，Defi和NFT已移至更便宜，更快的鏈條，但它仍然是最安全，可信賴和建立的區塊鏈，並且使用諸如Account Account Accort，Restaking，Restaking和其他使其更容易和更有用的新功能變得更好，並且對開發人員更加有用。

One of the biggest shifts is the rise of tokenized real-world assets (RWAs) like US treasuries, real estate, and carbon credits, which are now valued at over $56 billion.

最大的轉變之一是像美國國庫，房地產和碳信貸等令牌現實世界中的資產（RWA）的興起，現在價值超過560億美元。

More than half of this value is tied to Ethereum or Ethereum-based roll-ups, Major players like BlackRock and Franklin Templeton are launching tokenized products on Ethereum.

這一價值的一半以上與以太坊或以太坊的捲起相關，貝萊德和富蘭克林·鄧普頓（Franklin Templeton）等主要參與者正在以太坊上推出令牌化產品。

This makes sense- if you want to put billions of dollars of real estate or government debt on-chain, you need a chain that is trusted, scalable, and has a large developer ecosystem to build on. In short, big players want to build on Ethereum.

這很有意義 - 如果您想將數十億美元的房地產或政府債務放在鏈上，則需要一個可信賴，可擴展的連鎖店，並且具有一個大型開發商生態系統以建立。簡而言之，大玩家希望以以太坊建立。

Additionally, Ether still dominates the stablecoin market, with over 50% of all stablecoin value (over $120 billion) tied to Ethereum or its roll-ups.

此外，Ether仍然佔據了Stablecoin市場的主導地位，與以太坊或其捲起相關的所有Stablecoin價值（超過1,200億美元）的50％以上。

These stablecoins are used for on-chain trading, lending, and real-world use cases like payroll, remittances, and savings apps. Without stablecoins, the DeFi and Web3 ecosystem wouldn’t be able to function.

這些StableCoins用於鏈接交易，貸款和現實用例，例如工資單，匯款和儲蓄應用程序。如果沒有穩定的，DEFI和WEB3生態系統將無法運行。

What seems like slow infrastructure is actually steady, long-term demand, which is placing Ethereum as the foundation of everyday crypto use.

看起來緩慢的基礎設施實際上是穩定的，長期的需求，這將以太坊置於日常加密的基礎上。

Instead of just chasing trends, Ethereum is building the foundational technology that could drive the next wave of blockchain growth. This makes it the chain where real money flows- even if it’s not hyped up every week.

以太坊不僅僅是追逐趨勢，而是建立了可能推動下一波區塊鏈增長的基礎技術。這使其成為真正的錢流動的鏈條 - 即使不是每週都不會被炒作。

Although it will not quickly to quickly soar to its All-time highs, its utility is growing through innovations.

儘管它不會迅速迅速飆升至其歷史最高點，但其效用正在通過創新增長。

Features like staking and EIP-1559 help reduce supply, but demand from new users is key for price growth.

Stataking和EIP-1559等功能有助於減少供應，但新用戶的需求是價格增長的關鍵。

Despite its recent decline, Ethereum remains dominant in terms of TVL at $60.95 billion and stablecoin supply at $124 billion as per data from DefiLama.

儘管最近下降了，但根據Defilama的數據，以太坊在609.5億美元的TVL方面仍然占主導地位，而Stablecoin供應量仍然為1,240億美元。

Ethereum’s developer base is still the largest, and it continues to lead in the decentralized blockchain space. However, Solana leads in the number of active addresses and 24-hour DEX volume at $4.2 billion.

以太坊的開發者基礎仍然是最大的，它繼續領導分散的區塊鏈空間。但是，Solana的主動地址數量和24小時DEX量為42億美元。

The Ethereum Foundation has recently taken steps to improve its culture and engagement with developers, which could help bring back the lost confidence in Ethereum’s future.

以太坊基金會最近採取了步驟來改善其文化和與開發人員的互動，這可能有助於恢復對以太坊未來的失去信心。

However, it needs to find a balance between scalability, decentralization, and value capture to remain competitive.

但是，它需要在可伸縮，權力下放和價值捕獲之間找到平衡，以保持競爭力。

But price increases need real demand — people buying and holding ETH, not just using apps built on it.

但是價格上漲需要真正的需求 - 人們購買和持有ETH的人，而不僅僅是使用構建的應用程序。

The good news is, when the market surges again, all this quiet progress could put Ethereum in a strong position.

好消息是，當市場再次激增時，所有這些安靜的進步可能使以太坊處於強大的位置。