On May 25, according to BIT analysis, during the bull market of 2020-2021, smart contract platforms were widely expected to reshape some of the infrastructure and business processes in the traditional financial system. However, the high expectations have not materialized, and Ethereum's market cap share in the digital asset ecosystem has continued to decline. Currently, Ethereum's market cap share has fallen below 10% again, shrinking by more than half compared to two years ago. This indicates a continued decline in ETH's relative position in the crypto market. For investors heavily holding ETH, this trend is concerning. The ongoing decrease in ETH's market cap share suggests that funds are flowing towards other narratives or ecosystems. If this trend continues, ETH may remain under pressure and maintain a relatively weak position.