#美国核心物价涨幅不及市场预估 Is ETH transforming from "fuel" to "growth stock"?

Recently, I came across an interesting asset revaluation analysis. The core logic is as follows: Ethereum's value positioning is shifting.

Previously, our understanding of ETH was that it was the fuel on the blockchain—burn it to pay for network fees. But this new framework breaks that perception.

**Layer 1: Equity in Computing Infrastructure**
Imagine a future where AI trading bots are deployed at scale. What do they need? Programmable execution environments, complete transaction transparency, and tamper-proof settlement mechanisms. These are exactly what smart contracts and Layer 2 technologies provide. Once AI and DeFi deeply integrate on Ethereum, ETH becomes more than just fuel for payments; it becomes the underlying equity in a whole next-generation automated financial infrastructure. The potential is immediately apparent.

**Layer 2: A New Choice for Macro Asset Allocation**
This is the key point. When core US CPI data continues to stay below expectations, and liquidity conditions trend toward easing, a long-term environment of low interest rates and deflationary expectations may emerge. What is the 3-4% annualized yield from ETH staking worth in this context? It becomes a digital era fixed-income asset—offering both growth potential and stable returns. For institutional investors, this is a top-tier asset allocation option.

The brilliance of this framework lies in placing ETH within the global macro asset landscape, moving beyond the simple blockchain platform narrative. It rides the wave of AI technological growth while using staking yields as a benchmark against traditional bond yields.

If this logic gains recognition from more large-scale capital, ETH could face a comprehensive revaluation. Of course, this requires time and market validation. But at least it points in a direction: future Ethereum will earn both growth and interest income.