@$ETH Ethereum is not just an application platform, but the "lifeblood" of the global economy—this is a recent view of Vitalik Buterin, and also the most straightforward explanation of Ethereum's identity.

This statement may sound poetic at first glance, but a closer look reveals what he really means. Ethereum shouldn't be seen as a "game server" where anything goes, but rather as a continuously beating, never-offline system. As long as this system is running, all applications relying on it—whether DeFi lending, stablecoins, NFT ecosystems, or on-chain real-world assets—can operate normally.

From a different perspective, if DeFi, stablecoins, NFTs are considered different organs of the human body, then Ethereum is the heart. The heart only needs to do one thing: beat steadily. It doesn't need to change its rhythm for a hot topic, sacrifice security for traffic, or be controlled by a central authority.

This actually reflects Ethereum's core promise: decentralization, security, trustworthiness, and neutrality. Transactions are executed directly, with no company or government able to intercept midway. Rules are written in code, visible to everyone. The ledger is maintained by the entire network, with no single point of failure. This design essentially builds a "trust infrastructure" that doesn't rely on anyone.

Ethereum is currently at an interesting turning point. Whether it's the Shanghai upgrade, the Dencun upgrade series of optimizations, or the maturity of various layer 2 solutions, Ethereum's costs are decreasing, efficiency is increasing, gradually evolving from a "cryptopunk experiment" into a hub of the digital economy. Just look at the current trading volume of stablecoins, cross-border payment flows, and how many institutions are starting to consider on-chain finance—these changes are quietly happening.

Interestingly, this view serves as a reminder to the current market. Many are still chasing hot topics, waiting for the next super app, or expecting a star project to explode. But what Vitalik wants to say is that the true value is hidden beneath these noises—in the infrastructure that runs smoothly every second, every day of the year, without errors. When the hype subsides and bubbles burst, the systems that can still beat steadily will be the winners.

Ethereum is heading in this direction. Its goal is not to become a "universal platform," but to be that unceasing heartbeat of life. When this vision is finally realized, the value of $ETH will no longer be about "whether it will rise," but about "how much economic activity depends on it."