#美国非农就业数据未达市场预期 Over the past year, nearly $50 billion has continuously flowed into Ethereum, and this is no coincidence.

Two key catalysts have ignited the market: first, US regulators approved a spot ETF, fully opening the floodgates for institutional funds; second, Ethereum's own deflationary mechanism continues to strengthen—transaction fee burns, combined with ongoing staking rewards accumulation, increasingly highlight its hard asset properties.

The explosion of the Layer2 ecosystem and the hot re-staking track further drive this transformation. Ethereum is evolving: from an early network fuel, it has developed into a global capital allocation asset capable of generating cash flow. Macro funds are voting with their actions, proving it has become an indispensable core asset. $ETH $HYPER

This is only the prologue.