According to the news on July 22, Ethereum is about to usher in the brilliant moment of its tenth anniversary. This smart contract platform founded by Vitalik Buterin and others on July 30, 2015, has not only completely changed the application boundaries of blockchain technology, but also built a digital economic ecosystem worth trillions of dollars. On this milestone, the "Ethereum Torch" NFT project jointly launched by the Ethereum Foundation and ConsenSys integrates community spirit, technological heritage and market enthusiasm in a symbolic way, providing us with a multi-dimensional prism to observe the current ecology and future direction of Ethereum.
Twitter : @XBITDEX
The creative design of the "Ethereum Torch" NFT is a model of blockchain cultural narrative. This digital torch, which will be passed on day by day and eventually destroyed within 10 days, is a simple NFT transfer game on the surface, but it actually contains a profound philosophy of network governance. XBIT (DEX Exchange) analysts pointed out that since Joseph Lubin, founder of ConsenSys, lit the first torch on July 21, every transfer between wallets is a vivid display of the diversity of the Ethereum global community - developers, artists, miners, investors, educators and other roles are connected in the same narrative thread through this ceremony.
Particularly ingenious is the "self-termination" design of the torch: after the ten-day journey, the original NFT will be destroyed and replaced by a new version that anyone can cast for free. This "destructive inheritance" perfectly echoes the core principle of "code is law" in the blockchain world, and also metaphorically represents the paradigm shift of Ethereum from infancy to maturity. The act of destruction itself is a public governance declaration, suggesting that the network has passed the initial stage that requires a centralized driving force and is now moving towards a more open and inclusive new era. XBIT took advantage of this hot topic to launch a "Torch Theme" trading zone, supporting users to trade torch-related NFTs using ETH or stablecoins, and launched derivatives such as NFT fragmented tokens to attract community users to participate in liquidity mining.
According to the report of bijiewang, the strong return of Ethereum market performance echoed the torch relay ceremony. According to XBIT (DEX Exchange) data, the price of ETH broke through the $3,800 mark, with an increase of more than 120% in the past three months, and more than 90% of holders were in a profitable state. This price surge is not an isolated phenomenon, but part of the cyclical recovery of the entire crypto market, but Ethereum's performance is particularly outstanding, with its dominance rising to 11.58%, reaching its highest level since January 2025.
Twitter : @XBITDEX
In-depth analysis of the driving mechanism of this round of rise will reveal the resonance effect of multiple factors: first, the network efficiency improvement and energy consumption reduction brought about by the Ethereum 2.0 upgrade have resolved the doubts of early critics about the environmental impact; second, the popularity of Layer2 solutions (such as Arbitrum and Optimism) has significantly reduced transaction costs, making Ethereum regain the favor of developers; third, institutional investors have gradually deepened their understanding of ETH as "digital gold 2.0" and included it in diversified investment portfolios. XBIT (DEX Exchange) analysts said: It is particularly noteworthy that the supply of ETH held by first-time homebuyers has increased by 16% in a single month, indicating that new market participants are accelerating their entry and providing solid support for prices.
Ethereum's strong performance is triggering a chain reaction in the entire crypto market. Mainstream altcoins such as Solana and Dogecoin have followed suit, while small and medium-sized market value tokens such as PENGU and HEX have even seen a double-digit daily increase. Behind this "altcoin season" phenomenon, it reflects that the ecosystem successfully built by Ethereum is producing a strong spillover effect-when the value of the main network is recognized by the market, various applications and alternative assets developed based on it will naturally rise. XBIT continues to strengthen its support for altcoin transactions, providing more trading pairs and trading tools to meet investors' investment needs for different altcoins.
According to the data from the CoinWorld APP, it is particularly noteworthy that the key indicator of Bitcoin's dominance has dropped to 59.67%. Historical data shows that whenever BTC's market share declines significantly, it is often accompanied by an outbreak of innovation in the crypto market. Although the current 55/100 altcoin peak season index has not reached its historical peak, the fact that the daily trading volume of altcoins on the Binance Futures platform has exceeded US$100.7 billion clearly shows that funds are accelerating into this emerging field. This capital flow not only reflects the change in investors' risk preferences, but also indicates the further diversification of blockchain application scenarios.
Twitter : @XBITDEX
Looking back at the tenth anniversary, the evolution of Ethereum has far exceeded expectations. It has developed from the initial smart contract platform to the underlying infrastructure supporting various innovative applications such as decentralized finance (DeFi), non-fungible tokens (NFT), and decentralized autonomous organizations (DAO). XBIT.Exchange decentralized trading platform NFT-ETH liquidity pool provides low slippage trading services and introduces a "dynamic fee" mechanism to adjust the fee rate according to market fluctuations. It supports cross-chain transactions of NFTs on chains such as Ethereum and Solana, integrates multi-chain liquidity, and provides a "one-click cross-chain exchange" function. It also launched the ETH/USDC perpetual contract and introduced an "automatic position reduction protection" mechanism to reduce user risks.
