以太坊死了吗？垂死区块链的叙述

越来越多的叙述是“以太坊死了”，但这是真的吗？一些分析师认为，虽然它不像以前那样浮华

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.

越来越多的叙述是“以太坊已经死了”，但是是真的吗？，一些分析人士认为，虽然它并不像以前那样浮华，但以太坊正在演变成整个加密货币行业的骨干，许多人没有意识到这一转变。

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市场已经下降了，其总价值锁定比最高点下降了88％以上，同时，Solana在积极的用户和交易中取得了进步，因为它更快，更便宜。

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

一目了然：上周以太坊价格接近40％，从约1,800美元飙升至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.

高汽油费已将许多用户推开，Defi和NFT已移至更便宜，更快的链条，但它仍然是最安全，可信赖和建立的区块链，并且使用诸如Account Account Accort，Restaking，Restaking和其他使其更容易和更有用的新功能变得更好，并且对开发人员更加有用。

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.

最大的转变之一是像美国国库，房地产和碳信贷等令牌现实世界中的资产（RWA）的兴起，现在价值超过560亿美元。

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.

这一价值的一半以上与以太坊或以太坊的卷起相关，贝莱德和富兰克林·邓普顿（Franklin Templeton）等主要参与者正在以太坊上推出令牌化产品。

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.

这很有意义 - 如果您想将数十亿美元的房地产或政府债务放在链上，则需要一个可信赖，可扩展的连锁店，并且具有一个大型开发商生态系统以建立。简而言之，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仍然占据了Stablecoin市场的主导地位，与以太坊或其卷起相关的所有Stablecoin价值（超过1,200亿美元）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.

这些StableCoins用于链接交易，贷款和现实用例，例如工资单，汇款和储蓄应用程序。如果没有稳定的，DEFI和WEB3生态系统将无法运行。

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

看起来缓慢的基础设施实际上是稳定的，长期的需求，这将以太坊置于日常加密的基础上。

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.

以太坊不仅仅是追逐趋势，而是建立了可能推动下一波区块链增长的基础技术。这使其成为真正的钱流动的链条 - 即使不是每周都不会被炒作。

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

尽管它不会迅速迅速飙升至其历史最高点，但其效用正在通过创新增长。

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

Stataking和EIP-1559等功能有助于减少供应，但新用户的需求是价格增长的关键。

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.

尽管最近下降了，但根据Defilama的数据，以太坊在609.5亿美元的TVL方面仍然占主导地位，而Stablecoin供应量仍然为1,240亿美元。

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.

以太坊的开发者基础仍然是最大的，它继续领导分散的区块链空间。但是，Solana的主动地址数量和24小时DEX量为42亿美元。

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.

以太坊基金会最近采取了步骤来改善其文化和与开发人员的互动，这可能有助于恢复对以太坊未来的失去信心。

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

但是，它需要在可伸缩，权力下放和价值捕获之间找到平衡，以保持竞争力。

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

但是价格上涨需要真正的需求 - 人们购买和持有ETH的人，而不仅仅是使用构建的应用程序。

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

好消息是，当市场再次激增时，所有这些安静的进步可能使以太坊处于强大的位置。