Recently, an interesting phenomenon has emerged: Gas fees have completely faded from mainstream discussions. This is no coincidence but a systemic transformation happening across the entire ecosystem. Two core forces are secretly rewriting the rules, and the foundation for the next wave of growth is more solid than most people think.

Let's first look at the technological side. The Ethereum Shanghai upgrade has taken full effect, leading to a dramatic drop in transaction costs on Layer 2 networks. On solutions like Arbitrum and OP, users now often only need to spend a few cents to complete interactions. The significance behind this is more than just "cheap" — it means that large-scale commercial applications finally have a viable economic model. Scenarios like gaming, social media, and high-frequency trading, which were previously constrained by costs, are now becoming possible again. The user experience of Web3 is gradually evolving from "completely unaffordable" to "cost no longer an issue."

On the regulatory side, the approval of a Bitcoin spot ETF in the US signifies far more than just a capital channel — it essentially represents a shift in attitude. Simultaneously, observing major financial centers like the UK, EU, and Hong Kong, regulatory frameworks are becoming increasingly clear. What do large institutions fear most? Uncertainty. Once the framework is in place, traditional players holding vast amounts of capital will gradually lower their guard. Compliant capital is already well-prepared at the entry threshold.

In simplified terms: the technological side has built a wide and cheap highway, while the regulatory side has established clear traffic rules. What was once a muddy path for adventurers is now paving the way for the mainstream to enter.

In the short term, the burst of application ecosystems and the gradual infiltration of institutional funds may resonate together. Don't forget, market expectations for Ethereum spot ETFs are still brewing.

A question worth pondering is: under the dual influence of sharply reduced costs and clearer regulations, which segment among DeFi, GameFi, and SocialFi will be the first to incubate a phenomenal breakout application? Feel free to share your judgment.