Alliance DAO founder Qiao Wang posted on X platform that the current oversold level of ETH is close to the low point after Terra's collapse in 2021, the deep bear market in 2018, and the DAO hacking attack in 2016, making it a potential buying opportunity. However, Patrick Bush questioned whether ETH's past rebound occurred during a period when Ethereum was still the strongest smart contract platform, with weaker competition and a more united community, and the current market landscape had changed. Ethereum needed new catalysts to attract buyers.
Regarding this, Qiao Wang responded by saying, "No matter what the asset outlook is, there is always a price worth buying." He emphasized that ETH is still the most likely smart contract platform for institutions to adopt.
In his article "Ethereum is the Only Institution Friendly Smart Contract Chain," he listed four unique advantages of ETH:
1. Longest lasting (Lindy effect): ETH is the most mature smart contract platform, which has experienced multiple bull and bear markets and has accumulated deep technical and security expertise.
2. Leading compliance: ETH is the only smart contract asset listed on CME, facing less regulatory uncertainty compared to competitors such as SOL.
3. Deep integration of Coinbase: Coinbase's base chain relies on Ethereum and has been connected to over 100 million KYC users, making it the best landing place for "compliant DeFi".
4. Real Yield: The staking income of ETH comes from transaction fees, not inflation issuance, providing stable returns and attracting institutional funds.
