Ethereum is set to welcome the **Pectra upgrade** in 2025, which will introduce several key improvements (such as EIP-3074, EIP-7251, EIP-7002, etc.), focusing on optimizing transaction batching, staking efficiency, cross-chain interoperability, and more. Considering market trends and the potential impact of the upgrade, here are token and investment direction suggestions closely related to the Ethereum ecosystem:

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1. Ethereum（ETH）and its Layer2 tokens
- **ETH**: As a direct beneficiary of the upgrade, the price of ETH is expected to be bullish by institutions (Bitwise predicts it may exceed $7,000). The Pectra upgrade, by optimizing the staking mechanism (such as EIP-7251 allowing single-node staking of more ETH), may attract more institutional participation, further increasing ETH demand.

- **Layer2 Tokens**:
- **OP（Optimism）** and **ARB（Arbitrum）**: The Pectra upgrade will further reduce L2 transaction costs, enhance interoperability (such as standardizing cross-chain intent for ERC-7683), and drive L2 ecosystem growth. The grayscale report also lists OP as a key token for Q1 2025.
- **HYPE (Hyperliquid)**: An on-chain perpetual contract protocol based on Arbitrum, with significant recent TVL growth, added to the recommended list by Grayscale.

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2. Cross-chain and interoperability protocol**
- **LINK (Chainlink)**: As the leader of oracles, the increase in cross-chain data interaction demand will consolidate its position. Grayscale has listed it as a key token for Q1 2025.
- **DOT (Polkadot)**: Focuses on blockchain interoperability, the upgrade may drive DOT demand with the integration of the Ethereum ecosystem and multiple chains.
- **ERC-7683 related projects**: Such as **Across Protocol** (cross-chain bridge protocol), its tokens may benefit from a standardized cross-chain intent framework.

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3. Staking and Restaking
- **LDO (Lido)**: As a liquidity staking leader, EIP-7251 allows validators to integrate nodes, potentially reducing Lido's operating costs and improving yield efficiency.
- **JTO（Jito）**：Liquidity staking platform on Solana, newly recommended by Grayscale, reflecting the expansion of the staking track.
- **EigenLayer ecosystem**: Although tokens are not directly mentioned, the concept of heavy staking (such as sharing security through EigenLayer) may drive the development of related derivative protocols.

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4. DeFi and Stablecoin**
- **AAVE**: The upgrade of transaction batching (EIP-3074) and sponsored gas fee functionality may lower the barrier to DeFi usage, benefiting lending protocols. AAVE is also listed as a key token by Grayscale.
- **ENA (Ethena)**: A decentralized stablecoin protocol highlighted in the Grayscale report for its potential in synthesizing the USDe.
- **USDC/USDT**：The dominant position of Ethereum in the stablecoin field (with a market share of over 70%) will be further consolidated with clear regulations.

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5. AI and Emerging Tracks**
- **TAO (Bittensor)**: Decentralized AI network, grayscale report suggests that the integration of AI agents with Ethereum could give rise to new application scenarios.
- **VIRTUAL（Virtual Protocol）**: AI agent issuance platform based on Base chain, newly added to the recommended list by Grayscale.

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