I bought a lot of ETH at an average price of 2215, which should be the first time I have decided to buy ETH in this year. I have always been very bearish on ETH in this cycle, mainly because from the perspective of on chain degen, if there is no on chain ecosystem and demand for ETH in this cycle, funds will be continuously diverted to Solana casino, and as a value storage, there is no consensus on BTC. But in the past two days, I have suddenly had a different idea. One reason is that ETH has indeed fallen a lot, and the price has entered a real bear market range. At this time, I need to consider whether ETH will return to zero like EOS and its position will be replaced by other currencies. In my opinion, the core value of ETH lies in true decentralization and anti censorship, such as Bybit hackers being able to steal billions of dollars in ETH and safely escape. I believe this value is one of the core spirits of blockchain. With a private key, you can control your assets without being controlled by any centralized institution. After all, Satoshi Nakamoto invented BTC to break free from the control of central banks. In terms of decentralization and censorship resistance, ETH has a significant competitive barrier against other currencies. Recent articles by V God and the Ethereum Foundation also indicate that they will continue to work towards ETH's core values, known as Cypherpunks. In this regard, ETH will not disappear from mainstream view in the next cycle like EOS. Although persisting in these actions may not bring value capture to ETH in the short term, having these moats when the price is low enough makes me feel that ETH is undervalued. In the long run, perhaps more value discoveries can also be made. These words are some thoughts from my vacation walks these past few days. I will take note of them and welcome everyone's different ideas in the comment section.