Ethereum's recent technical roadmap has once again sparked market attention. According to the latest on-chain data, the number of daily active addresses on Ethereum remains above 500,000, and the total value locked (TVL) in the DeFi ecosystem has rebounded to around $40 billion. These indicators reflect the ongoing activity within the ecosystem.

In terms of staking, currently, 26 million ETH are staked, accounting for over 20% of the circulating supply. Institutional capital inflows have increased threefold year-over-year. About 60% of long-term holders are in profit, which to some extent validates the market’s optimistic outlook.

The Danksharding upgrade has entered its final stage, with the testnet verification work essentially complete. According to technical forecasts, this upgrade will bring significant performance improvements—transaction processing speed could increase by 100 times, Gas fees could drop sharply to near zero levels, and theoretical throughput could reach 100,000 transactions per second. Such improvements will directly impact user experience in applications like DeFi and NFTs.

On the market side, US Treasury yields continue to rise, with recent US Treasury auctions experiencing oversubscription (with a premium multiple of 2.5 times), reflecting institutional demand for dollar assets. Against this backdrop, some investors are adopting a dual-track allocation strategy: on one hand, allocating to stable income assets, and on the other, seeking opportunities in high-risk, high-reward crypto assets.

From a technical and fundamental ecosystem perspective, Ethereum still maintains a competitive edge in performance and diversified application ecosystems. The market evolution around 2026 will largely depend on macroeconomic policy directions and the progress of specific applications within the crypto industry.