Wu Shuo learns that crypto analyst Joseph Young pointed out that Ethereum's smart contract deployments in Q4 reached a record high of 8.7 million, and this trend has continued to grow for multiple quarters, making it difficult to attribute to "artificial exaggeration" and more reflective of genuine ecosystem expansion. The driving factors include layer 2 network expansion, RWA issuance, stablecoin applications, and the development of wallet and intents infrastructure.