In January 2018, Ethereum had already reached 1450U. Unexpectedly, after more than 7 years, it has returned to its starting point. However, the fundamentals are completely different from 2018 At that time, there was only $110000 stablecoin TVL on Ethereum, filled with crypto cats, scam ICOs, and no Dapps, Defi, or institutional adoption. Then in April 2025, when I woke up, the ETH price also reached 1400u and the stablecoin TVL exceeded 1200