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The ten-year journey of Ethereum is also my eighth year in the crypto space｜Ethereum's decade has been magnificent, and my eight years of faith have transformed——

Ethereum's ten years have witnessed the rise of a true WEB3 world and the flourishing of blockchain technology:
If Bitcoin is an awakening of currency, then Ethereum is a reconstruction of civilization.
And the ten years of Ethereum coincide with my eighth year in the crypto circle——
In these eight years, tides have risen and fallen, narratives have turned, I have personally experienced the ICO frenzy of 2017, the DeFi revival of 2020, the peak of the bull market in 2021, and I have also endured the collapse of LUNA, the downfall of FTX, and countless nights of "ETH is done for."
Especially in this eighth year, the whole community began to FUD Ethereum, with voices of pessimism rising and falling, even former loyal ETH supporters became uncertain.
But the more FUD there was, the more resolute I became. Because I do not rely on hype to judge the future; I stand with understanding on the main narrative.
The following is the "Twisted Journey of Ethereum" that I wrote four years ago, which serves as my anchor in holding onto ETH. Today, I have decided to continue writing it.
If you are an old fan, you will surely remember that in May four years ago, when Ethereum broke through $4,000, I first published this text on my Weibo account [比特吴老湿]:

【The Twisted Journey of Ethereum】 (This article is priced in RMB)#

Many people do not know the origin of Ethereum (ETH) and its journey. Old Wu, with personal experience, will popularize this thrilling story of blood and guts, a hundred times more shocking than a TV drama, without further ado, let’s begin:

• Step one: In July 2014, ETH was issued at a price of 1.86 yuan, and it traded sideways between 1.4 yuan and 4 yuan for a whole year. Most people could not hold on and sold in the first year, basically without profit, and even at a loss.
• Step two: In August 2015, it rose to 23 yuan, a 12-fold increase, and many people took profits and left; in November, it fell back to 2.7 yuan, a 90% drop. This round of ups and downs saw over 90% of people sell their coins and exit, with some cutting losses. During this phase, the "divine fish" sold 100,000 ETH for tens of yuan; had they not sold, it would now be worth two to three billion. But wait, do you think not selling at this time means you can hold on? Let’s look at the exciting year of 2016 together!
• Step three: In 2016, this year was particularly exciting. In March, it entered a bull run, soaring to 98 yuan, a 36-fold increase in one month, but unfortunately, less than 10% of people enjoyed the wealth increase. In April, a thunderbolt struck, dropping to 45 yuan, and many shouted that Ethereum was a scam; little did they know, it rose to 138 yuan in June, fell to 54 yuan in August, rose to 92 yuan in September, and fell to 38 yuan in December. This year was magnificent and full of ups and downs. Imagine if you held 100,000 ETH, could you hold on? To be honest, I couldn't. I traded Ethereum in 2016, but only dared to operate short-term and incurred losses.
• Step four: A heroic life begins: Although 2016 was tumultuous, it laid the foundation for Ethereum's popularity and market base. In March 2017, it skyrocketed to 350 yuan, a 9-fold increase in three months; then ICOs became popular in China, with all projects issuing tokens on the Ethereum public chain to raise ETH. From then on, its dominant position was established! No more suspense.
  Thus, in June 2017, it rose to 2,660 yuan, a 70-fold increase in six months; in July it fell to 850 yuan, a 78% drop; in October it rose to 2,520 yuan; in November it rose to 3,280 yuan; in December it rose to 7,510 yuan; in January 2018, it surged to the then highest of 9,100 yuan.
  Three-year summary: In just over three years, it increased by 4,900 times. Do you think that’s enough excitement? The good show continues to unfold, reminiscent of the past:
• Step five: In 2018, the bear market began, with a drop from over 9,000 yuan to 2,280 yuan in March, a 75% drop. In April, it rose to 5,380 yuan; in September, it fell to 1,070 yuan, an 88% drop. The most severe was in December when it fell to 525 yuan, a 90% drop.
• Step six: In June 2019, it rose to 2,350 yuan; in December, it fell to 720 yuan; in March 2020, the panic of the 312 incident struck, dropping to 550 yuan, a drop of over 88%. For a long time afterward, no one dared to touch Ethereum until the rise of DeFi in October to December, which improved the situation, rising to 5,720 yuan and regaining upward momentum.
• Step seven: In May 2021, it rose to 28,000 yuan.
  In less than six years, it increased by 15,000 times. Initially investing 1,000 yuan could yield 15 million yuan, but that is all talk. Looking back at the storms I have experienced, can I truly hold on?
  Thus, I once said: The easiest ways to get rich in this circle are: mining and holding coins. The underlying logic is the same.
  The easiest ways to become poor are: randomly investing in projects and leveraged contracts.
  After years of ups and downs, only those who can hold on are the winners. Great wealth does not require much intelligence, only enough patience; those who achieve great things must have great perseverance.

The above text has been widely reprinted and serves as my anchor in holding onto Ethereum. Now I have decided to continue this legend (the following is priced in USD):

• Step eight: This is the story of the past two years.
  In 2022, Ethereum made a historic leap: The Merge went live, transitioning the mainnet from PoW to PoS, reducing energy consumption by 99%, ending mining, and starting the expectation of "ETH deflation." At that time, the popular saying in the circle was: Bitcoin is the gold of the past, Ethereum is the financial internet of the future.
  But the market did not take off; instead, it was hit by the collapses of LUNA, FTX, and others, with ETH dropping from $3,500 to $1,100. Another round of collapse and reshuffling, another round of faith questioning.
  And I did not escape this time.
  I began to understand that the story of ETH is no longer a speculative script but a grand narrative rooted in the reform of the financial order.
  It carries the technical foundation of almost all mainstream narratives, including stablecoins, DeFi, RWA, Restaking, AI chains, etc. It is the smart contract platform with the most global developers, the widest applications, and the most prosperous ecosystem, the "king of protocols" in the public chain world.
  You may question its high cost, slowness, being divided by Layer 2, and chaotic governance, but you cannot ignore: regardless of bull or bear markets, regardless of how new public chains innovate, key assets and funds still choose Ethereum as the ultimate "settlement layer."
  In the eighth year, I am still here. I am still buying ETH.
  2023 is a special year.
  Starting in 2023, the whole community began to FUD Ethereum.
  Some say it cannot rise as much as altcoins, some say it is congested, has high gas fees, and inefficient governance, many claim it is inferior to new public chains, and holding it is useless; some bet on "new paradigm public chains," Solana, AI chains, modular chains... some even say "ETH will be the next LUNA."
  Social media is filled with rhetoric: "The era of Ethereum has passed," and those holding ETH are foolish!
  Yet I am in the midst of it all. But I have never wavered. I still speak of Ethereum's logic, value, and future.
  Because I firmly believe:
  The value of Ethereum lies not in short-term hype, but in its position as a global financial operating system, quietly penetrating the world.
  Stablecoins are Ethereum's first killer application, with hundreds of billions of USDT/USDC mostly issued on Ethereum and compatible chains;
  80% of DeFi protocol TVL uses ETH as the core settlement asset;
  RWA, AI, Restaking, Layer 2 modular ecosystems... almost all narratives ultimately fall on Ethereum or its derivative networks.
  It is the endpoint of capital flow, the anchor point of narratives, and the highest level of security.
  Today, when the whole community FUDs Ethereum, it is precisely my most reassuring eighth year.
  I once wrote: "ETH is a financial civilization being built slowly, not a speculative container, but the framework for global value collaboration."
  Ten years have passed, tides have risen and fallen, narratives have flourished and waned, we have witnessed too many stories of explosive popularity and subsequent silence, the enthusiasm behind the cold bubble, yet the main narrative of ETH remains unbroken, step by step from concept, protocol, code, application to consensus, completing its self-proof.

I do not bet on trends; I bet on the main narrative.
I do not chase explosive points; I guard the foundation.
May in the next decade, we still be present, still tell the story of ETH, not out of faith, but out of understanding.
Not because it can make one rich, but because I see it becoming an "irreversible infrastructure," a consensus container for future global assets, identities, and collaboration.
Ten years, one chain, one person, a fate intertwined.
The script of Ethereum has never repeated, yet it always bets on the future.
May we hold onto our original intention amidst the storms and embark on the next great journey together in the cycle.
Focus on Ethereum's ten years, focus on OKX's 50% off ETH purchase activity:
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Thank you for reading this far, loyal fans of Ethereum; you will surely make a fortune!

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