A Decade of Ethereum and My Eighth Year in Crypto: Ethereum’s Turbulent Ten Years and My Eight-Year Faith Evolution

Ethereum's ten years mark a true decade of WEB3 upheaval and blockchain flourishing.

If Bitcoin sparked a monetary awakening, Ethereum represents a civilizational reconstruction.

These ten years of Ethereum align with my eighth year in crypto—

Throughout these eight years, I navigated waves and narratives: riding the 2017 ICO frenzy, the 2020 DeFi revival, and the 2021 bull peak, while weathering the LUNA crash, FTX collapse, and countless nights of "ETH is dead" skepticism.

This eighth year, in particular, saw FUD against Ethereum pervasive, shaking even diehard supporters.

Yet, the more they spread FUD, the firmer my resolve grew. I don't judge the future by hype—I base it on fundamentals and positioning.

Below is an article I wrote four years ago, "Ethereum’s Twists and Turns," which anchored my conviction in ETH. Today, I choose to continue that story.

If you're a long-time follower, you might recall that in May four years ago, Ethereum surpassed \$4,000—I shared this under my X account, BITWU:

Ethereum’s Twisted Journey (priced in RMB at the time)

Most people don’t know Ethereum’s origins or its unfolding journey. I’ll guide you through it—a bloody, thrilling tale, 10,000 times more gripping than any drama. No fluff—let’s dive in:

• Step 1 (July 2014): ETH launched at ¥1.86 and traded between ¥1.4 and ¥4 for a year. Most early buyers sold out, breaking even or suffering losses.
• Step 2 (August 2015): It surged to ¥23 (a 12× increase), prompting many to take profits. By November, it plummeted to ¥2.7 (a 90% drop). Over 90% sold at a loss. One whale sold 100,000 ETH at ¥10–20—today worth billions. But could you have held through 2016?
• Step 3 (2016): A dramatic year. It rose to ¥98 (a 36× increase) in March—few holders remained. Then it crashed to ¥45 in April, sparking cries of "ETH is a scam!" It fluctuated to ¥138 in June, ¥54 in August, ¥92 in September, and ¥38 in December. Could anyone hold 100k ETH through that? I couldn’t—I traded and lost money in 2016.
• Step 4 (2017): Ethereum's foundation solidified. By March, it hit ¥350 (a 9× rise in three months). The Chinese ICO frenzy began, with projects issuing tokens on Ethereum and raising ETH. Ethereum's dominance cemented. In June, it reached ¥2,660 (a 70× surge in six months), dipped to ¥850 (a 78% drop) in July, rebounded to ¥2,520 by October, ¥3,280 in November, ¥7,510 in December, and peaked at ¥9,100 in January 2018.

Three-year summary: A 4,900× increase in just over three years. But the journey wasn’t over.

• Step 5 (2018): A bear market washout: from ¥9,000 to ¥2,280 (a 75% drop) in March; up to ¥5,380 in April; down again to ¥1,070 in September (an 88% fall); then to ¥525 in December (a 90% decline).
• Step 6 (2019–March 2020): In June 2019: ¥2,350; December: ¥720; March 2020 crash (an 88% drop) to ¥550. ETH was ignored until DeFi revived it later that year, pushing it to ¥5,720.
• Step 7 (May 2021): It reached ¥28,000—a 15,000× rise in under six years. But holding wasn't easy.

I once stated:

The two easiest paths to wealth in crypto are mining and hodling.
The quickest ways to lose money? Blindly chasing projects or using leverage.

Through bull and bear cycles, only those who hold survive. Massive wealth doesn't demand genius, but unwavering patience.

That piece went viral and anchored my ETH conviction. Now, I continue the legend in USD:

• Step 8 (2022–Present)

In 2022, Ethereum achieved a historic milestone: The Merge. It transitioned from PoW to PoS, cutting energy consumption by 99%—mining ended, and the deflationary ETH narrative began. Back then, the mantra was: “Bitcoin is digital gold, Ethereum is the future of finance.”

Yet, the market didn't surge—it faced LUNA and FTX crises, dropping from \$3,500 to \$1,100. Another brutal correction, another test of faith.

This time, I held firm.

I realized ETH isn't mere speculation—it's foundational to financial innovation. It powers stablecoins, DeFi, RWA, restaking, and AI-chains—essentially every major narrative. It boasts the most developers, widest usage, and richest ecosystem. In the public chain world, it’s the protocol king.

You can criticize its fees, performance, or fragmented Layer2 ecosystem, but asset flows, investor confidence, and capital always return to Ethereum as the settlement layer.

In this eighth year, I'm still here, still accumulating ETH.

2023 began with another wave of FUD. Critics claimed ETH would never outperform altcoins, complained about high gas fees and poor governance, bet everything on Solana, AI-chains, or the “next ETH,” even whispering "ETH could be the next LUNA."

Every corner of social media echoed: “Ethereum is dead.” But I persisted. I continued discussing ETH’s logic, value, and future.

Because I believe Ethereum’s value lies not in hype, but in its position as the global financial operating system.

• Stablecoins: USDT/USDC worth hundreds of billions primarily reside on Ethereum-compatible chains.
• DeFi: Approximately 80% of TVL is denominated in ETH.
• RWA, AI, Restaking, Layer2—every major narrative converges on Ethereum. It’s the final node for capital, the narrative anchor, and the most secure layer.

When everyone spreads FUD about Ethereum, I feel calm and anchored.

I once wrote:

“ETH is a slowly evolving financial civilization—not a speculative container, but the skeletal system of global value collaboration.”

Ten years. Tides rise and fall. Narratives trend hot then fade. But ETH’s core narrative remains unbroken—it’s self-proven across ideology, protocol, code, apps, and consensus.

I don’t chase fads—I hold the mainline.
I don’t chase hype—I defend the foundation.

May the next decade find us still here, still telling ETH’s story—not out of blind faith, but from deep understanding.

Not because it promises wealth—because it’s becoming irreversible infrastructure, a consensus layer for global value, identity, and collaboration.

Ten years, one chain, one person, intertwined destinies.

Ethereum’s story never repeats, yet always bets on the future.

May we weather storms and stay true—to join the next great wave.

Follow Ethereum’s decennial journey and enjoy OKX’s 50% ETH bonus:

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Thank you for reading—anyone still here is a true Ethereum believer and will thrive!

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