The Ethereum ecosystem is experiencing a "dilemma reversal". In addition to Ethereum $ETH breaking through $2800 and doubling in two months, the currently more mainstream ecological projects include: 1. Staking, with $SSV increasing by 150% in two months, $RPL by 120%, and $LDO by 60%; 2. Domain names, with $ENS increasing by 100% in two months; 3. In staking, $EIGEN increasing by 120% in two months; 4. DEX, with $UNI increasing by nearly 80% in two months; 5. Lending, with $AAVE increasing by 160% in two months; In the past two months, the leading projects in the Ethereum ecosystem have seen growth similar to Ethereum itself, indicating that the overall ecosystem is still not thriving, with the increases primarily driven by valuation recovery and sentiment. Ethereum's version of Strategy, similar to $SBET; ETH spot ETF subscriptions and redemptions, ETH spot ETF staking; major adjustments in #DeFi regulatory policies; and the decline in traditional financial macro rates leading to a recovery in the DeFi industry will all be important variables for asset price increases. The worst times for Ethereum and its ecosystem are definitely behind us, but the road ahead is still not smooth.