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Wu Shuo learned that the Ethereum official posted a review of the 2025 ecosystem development and disclosed several key data points: Ethereum DeFi TVL exceeds $99 billion, more than 9 times that of the second-largest L1; in 2025, the settlement volume of stablecoins on Ethereum reached $18.8 trillion. L2 transaction fees dropped below $0.01, and the average TPS of the entire network Rollup reached 5600 for the first time. In terms of institutional adoption, ETFs and strategic reserves hold a total of over $35 billion worth of ETH, and the on-chain issuance of RWA exceeds $12 billion. Technologically, Pectra and Fusaka have been upgraded twice, and the L1 Gas limit has been raised to 60M. As of now, Ethereum has deployed over 88 million smart contracts, with a peak of 1.74 million daily transactions, and approximately 32,000 active developers.