E finally pulled through this time—Q3 performance outshined BTC! BTC's long-term logic is relatively straightforward, mainly revolving around scarcity, monetary attributes, and global allocation demand for pricing. ETH, on the other hand, is much more complex. Its value depends on a mix of technological competition, ecosystem adoption, economic models, and capital market preferences. This has been, and will continue to be, the core debate around ETH valuation in recent years and the years to come. The same logic applies to stablecoins and RWA. So from this perspective, I still have long-term confidence in Ethereum's position in the industry, but that doesn’t mean I’ll blindly bet on ETH’s price. No more dreaming of 1wu!