The Japanese Yen is experiencing a slow and persistent depreciation pressure. The exchange rate repeatedly surges around 155.7, with the market generally expecting it to reach levels of 160 or even 165. It seems that the Bank of Japan's rate hike measures have not reversed the trend—it's like trying to extinguish a structural fire with warm water.

Latest reports from JPMorgan Chase and Société Générale point in the same direction: by the end of 2026, the Yen will find it difficult to hold its current defense line. The underlying logic is actually quite brutal, with three forces acting simultaneously—massive interest rate differentials between the US and Japan, Japan's negative real interest rate trap, and the "bloodbath" caused by corporate mergers and acquisitions and personal capital outflows.

This year's performance of the Yen has been pathetic, with an increase of less than 1%. The rebound in April was even instantly suppressed by Trump's tariff policies. Now, arbitrage trading is reigniting, with leveraged funds' short positions reaching a seven-month high. Japanese officials' verbal interventions repeatedly seem powerless in the face of capital flight.

The real turning point may not be in Tokyo, but in Washington. The increasingly hawkish stance of the Federal Reserve directly exposes the credibility breach of traditional reserve currencies. As these old currencies begin to lose their appeal, global funds are frantically searching for new safe havens and value-added tools.

This explains why Ethereum is evolving from an early "experimental network" into a global financial infrastructure relied upon by institutions and AI systems. The pillars of the old system are becoming increasingly unstable, while new financial protocols built on blockchain are showing stronger "safe haven" characteristics. Trillions of dollars in repurchase markets are gradually migrating on-chain, which has become a clear consensus among institutions.

The storm has already arrived. Your choice is clear: continue to cling to that slowly sinking old ship, or decisively switch to the next-generation financial infrastructure train?