#以太坊生态系统发展# Looking back at the development of the Ethereum ecosystem over the past decade, it is truly remarkable. From the initial crowdfunding to the widespread application of smart contracts, and then to the frenzy of DeFi summer, Ethereum has gradually grown into a pillar of blockchain infrastructure. Now, seeing institutional investors like Bitmine planning to invest $20 billion to increase their holdings of ETH reminds me of the grandeur during the ICO boom in 2017. However, the current landscape is indeed different. The large-scale entry of institutional funds means that Ethereum has officially entered the sights of the mainstream financial market. This may herald the beginning of a new bull run cycle, but we must also be wary of the bubble risks brought by excessive speculation. History always repeats itself, but each time there are new changes. For those of us who have witnessed Ethereum from the ground up, it is especially important to maintain a rational outlook and participate cautiously. After all, true value always takes time to be validated.