Ten Years of Ethereum and My Eighth Year in Cryptocurrency | Ethereum's Chaotic Decade and My Eight-Year Journey of Belief

Ethereum's decade marks a genuine era of WEB3 transformation—and equally, ten years of blockchain prosperity.

If Bitcoin sparked a monetary revolution, Ethereum represents a reconstruction of civilization.

And Ethereum's ten-year milestone aligns with my eighth year in the crypto space—

Throughout these eight years, amid market surges and shifting narratives, I navigated the 2017 ICO frenzy, the 2020 DeFi resurgence, the 2021 bull market peak, and endured the LUNA meltdown, FTX implosion, and countless nights of "ETH is dead" skepticism.

Particularly in this eighth year: FUD against Ethereum was rampant, causing even staunch supporters to doubt.

But the greater the FUD, the firmer my resolve grew. I don't assess the future based on hype—I rely on fundamentals and strategic positioning.

Below is an article I penned four years ago, "Ethereum's Twists and Turns," which solidified my ETH conviction. Today, I choose to extend that narrative.

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

Ethereum's Winding Path (priced in RMB at the time)

Few know how Ethereum (ETH) originated or how its journey unfolded. I'll guide you through—it's a gripping, high-stakes tale, infinitely more thrilling than any drama. No embellishments—let's get started:

• Step 1 (July 2014): ETH debuted at ¥1.86, fluctuating between ¥1.4-4 for a year. Most early investors sold out, breaking even or taking losses.

• Step 2 (August 2015): Surged to ¥23 (12×), prompting many to cash out. By November, it plummeted to ¥2.7 (–90%). Over 90% sold at a loss. A whale offloaded 100,000 ETH at ¥10–20—worth billions today. But could you have held through 2016?

• Step 3 (2016): A year of extremes. Peaked at ¥98 (+36×) in March—few holders remained. Crashed to ¥45 in April: "ETH is a scam!" Then to ¥138 in June, ¥54 in August, ¥92 in September, ¥38 in December. Did anyone hold 100k ETH through that? I couldn't—I traded and lost funds in 2016.

• Step 4 (2017): ETH's foundation solidified. By March, it reached ¥350 (+9× in 3 months). The Chinese ICO boom began, with projects launching tokens on Ethereum and raising ETH. Ethereum's dominance was cemented. June saw ¥2,660 (+70× in 6 months), dipped to ¥850 (–78%) 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× gain in just over three years. But the journey continued.

• Step 5 (2018): Bear market purge: from ¥9,000 to ¥2,280 (–75%) in March; up to ¥5,380 in April; down again to ¥1,070 in September (–88%); then to ¥525 in December (–90%).

• Step 6 (2019–March 2020): June 2019: ¥2,350; December: ¥720; March 2020 crash (–88%) to ¥550. ETH was ignored until DeFi revived it later that year, driving it to ¥5,720.

• Step 7 (May 2021): Hit ¥28,000—a 15,000× increase in under six years. But holding wasn't simple.

I've stated before:

The two simplest paths to wealth in crypto are mining and hodling.
The fastest ways to lose money? Blindly chasing projects or leveraging trades.

Through cycles of boom and bust, only those who hold steadfast survive. Massive wealth demands not genius, but unwavering patience.

That piece gained traction and anchored my ETH faith. Now, I continue the saga in USD:

• Step 8 (2022–Present)

In 2022, Ethereum achieved a landmark event: The Merge. Transitioned from PoW to PoS, slashing energy use by 99%—mining ceased, 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 soar—it faced LUNA and FTX crises, dropping from \$3,500 to \$1,100. Another brutal correction, another test of conviction.

This time, I held firm.

I recognized ETH isn't mere speculation—it's foundational to financial innovation. It powers stablecoins, DeFi, RWA, restaking, AI-chains—essentially every major trend. It boasts the most developers, broadest adoption, and richest ecosystem. In the public chain realm, it's the protocol king.

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

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

2023 kicked off with another wave of FUD. Critics claimed ETH would never outperform altcoins, complained about high gas costs and weak governance, bet everything on Solana, AI-chains, or the "next ETH," even murmuring "ETH could be the next LUNA."

Every social media corner echoed: "Ethereum is dead." But I persisted. I continued discussing ETH's logic, value, and prospects.

Because I believe Ethereum's worth lies not in hype—but in its role as the global financial operating system.

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

When everyone FUDs Ethereum, I feel calm and grounded.

I once wrote:

"ETH is a slowly evolving financial civilization—it's not a speculative vessel, but the skeletal framework for global value collaboration."

Ten years. Tides ebb and flow. Narratives flare and fade. But ETH's core narrative remains unbroken—validated across ideology, protocol, code, applications, and consensus.

I don't chase trends—I hold the mainline.
I don't pursue hype—I defend the foundation.

May the next decade find us still here, still narrating ETH's story—not from blind faith, but from deep understanding.

Not because it will enrich us—because it's evolving into irreversible infrastructure, a consensus layer for global value, identity, and cooperation.

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

Ethereum's tale never repeats, yet always wagers on the future.

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

Follow Ethereum's decennial journey and seize the OKX 50% ETH bonus:

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

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