Ethereum The internet was "complete" the moment people stopped being conscious of the word HTTP. The same thing is now about to happen with blockchain. The signs of this have already begun to emerge clearly. As a rule, companies outside the crypto space rarely adopt chains with no proven track record. The rise of chains like ECLIPSE, FOGO, and MEGAETH—which promote the idea of "games running on-chain" as their main selling point—is a reflection of this reality. At a stage where broad, general-purpose trust has yet to be established, real demand can only be captured starting from limited domains like gaming. On the other hand, Ethereum, with its long-established track record, is seeing steady acceleration in real-world adoption. * July 2024: Ethereum ETFs are approved in the United States. BlackRock, Fidelity, and other major players enter the market simultaneously, with inflows reaching approximately $2 billion. * 2025: Harvard University's endowment (approximately $53 billion in scale) incorporates Ethereum into its portfolio for the first time. In this way, Ethereum is transforming from a mere "object of speculation" into "an asset class that institutional investors should hold." Furthermore, as massive volumes of stablecoins (RWAs) are issued on Ethereum going forward, the following "self-reinforcing security loop" is expected to begin: The value of assets on Ethereum increases ▼ As incentives to attack the network grow, stronger defenses become necessary ▼ The ETH price (market cap) rises, causing the cost of attack to skyrocket to astronomical levels ▼ Security is proven, attracting even more assets This is an inevitability born from design. Market capitalization is not merely a popularity contest figure—it becomes a metric representing "the height of the defensive wall protecting Ethereum's economic zone." As the treasure to be guarded (on-chain assets) grows, the vault (Ethereum's market cap) must also expand accordingly. The following scenarios assume an ETH price of approximately $2,000: * Approx. 3x ($6,000): Initial wave of institutional money inflows * Approx. 5x ($10,000): Expansion and establishment of demand-driven growth * 8–10x ($16,000–$20,000): Transformation into global economic infrastructure As the scale of the economy it protects grows, the cost of defense—ETH's market cap—will naturally expand along with it. In a world where Ethereum has become the standard, ten years from now, gas fees and underlying mechanisms will no longer be something anyone thinks about. It will simply be something that works, taken entirely for granted.