為什麼ETH集會？加密投資者的關鍵見解

以太坊（ETH）是市場資本化的第二大加密貨幣，最近經歷了一個著名的集會

Ethereum (ETH) price has experienced a significant rally in recent times, piquing the interest of crypto investors. As the second-largest cryptocurrency by market capitalization, any substantial move by ETH tends to be a noteworthy event in the broader cryptocurrency market. In this article, we examine the key factors that have contributed to ETH’s price surge, providing a comprehensive analysis tailored for crypto investors.

以太坊（ETH）的價格近來經歷了重大集會，引起了加密投資者的興趣。作為市值的第二大加密貨幣，ETH的任何實質性舉動往往是更廣泛的加密貨幣市場中值得注意的事件。在本文中，我們研究了促成ETH價格上漲的關鍵因素，為加密投資者提供了量身定制的全面分析。

Institutional Inflows Signal Renewed Confidence in Ethereum

機構流入信號使以太坊的信心更新

機構流入信號使以太坊的信心更新

One of the primary drivers of Ethereum’s rally is the consistent inflow into Ethereum-based investment products. According to CoinShares, global Ethereum exchange-traded products (ETPs) recorded net inflows of $295.4 million last week, extending a seven-week streak of positive momentum.

以太坊集會的主要驅動力之一是進入以太坊的投資產品的一致性。根據Coinshares的說法，全球以太坊交換產品（ETP）上週記錄的淨流入量為2.954億美元，延長了七週的積極勢頭。

This series of inflows has brought the total to $1.5 billion, highlighting a significant shift in investor sentiment toward the second-largest cryptocurrency.

這一系列的流入使總計15億美元，強調了投資者情緒向第二大加密貨幣的重大轉變。

Moreover, US-based spot Ethereum ETFs, notably iShares Ethereum Trust (ETHA) by BlackRock, have also contributed to this trend. On June 9 alone, these ETFs saw inflows of $52.7 million, with a 16-day streak in such inflows bringing the total to $890 million.

此外，貝萊德（Blackrock）的基於美國的現場以太坊ETF，特別是Ishares以太坊信任（ETHA），也促成了這一趨勢。僅在6月9日，這些ETF的流入就達到了5270萬美元，這種流入率達到16天，總計達到了8.9億美元。

Record Open Interest in ETH Futures Fuels Speculation

記錄ETH期貨的開放興趣燃料猜測

記錄ETH期貨的開放興趣燃料猜測

The futures market for Ethereum has seen activity surge to unprecedented levels, with open interest (OI) hitting an all-time high of $39.22 billion on June 10.

以太坊期貨市場的活動激增至前所未有的水平，開放興趣（OI）在6月10日達到了392.2億美元的歷史最高點。

As the amount of money that traders have tied up in their futures positions, OI is a crucial indicator of the level of bullish or bearish sentiment in the market.

由於交易者在期貨職位上捆綁的金額，OI是市場上看漲或看跌感情水平的關鍵指標。

At the same time, funding rates in ETH perpetual futures markets turned positive, rising to 0.0070% from 0.0026% within 48 hours.

同時，ETH永久期貨市場的資金率變成了積極的趨勢，在48小時內從0.0026％上升到0.0070％。

Positive funding rates, paid by traders with long positions to those with short positions, suggest that more traders are taking long positions, betting on higher prices. This, in turn, reinforces bullish sentiment in the market.

正位較長職位的交易者支付的正位籌資率表明，越來越多的交易者正在佔據很長的頭寸，押注更高的價格。反過來，這加劇了市場上的看漲情緒。

Technical Analysis: Cup-and-Handle Pattern Targets $4,100 for ETH

技術分析：ETH的杯和手柄圖案目標$ 4,100

技術分析：ETH的杯和手柄圖案目標$ 4,100

From a technical perspective, Ethereum’s price chart is displaying a bullish cup-and-handle pattern. This setup, which has been forming since February 3, is characterized by a U-shaped recovery in prices, which is commonly observed after a bear market or a deep correction, followed by a pullback in prices that occurs within a descending channel, also known as the handle.

從技術角度來看，以太坊的價格圖顯示了看漲的杯子和手柄圖案。自2月3日以來一直在形成的設置的特徵是價格恢復，通常在熊市或深層校正後觀察到，然後在下降渠道內發生的價格回調，也稱為手柄。

ETH has now broken above the handle range, setting a target on the neckline resistance at $2,789. A decisive close above this level could open the door for a rally toward $3,000 and beyond, aiming for the pattern’s technical target of $4,100—a potential 52% gain from current levels.

ETH現在已經在手柄範圍上方折斷了，將領口阻力的目標定為2,789美元。高於此水平的決定性接近，可以為3,000美元及以上的$ 3,000及以後的宣布打開大門，目標是該模式的技術目標4,100美元，這是當前水平的潛在增長52％。

Layer-2 Networks Drive Scalability and Reduce Transaction Costs

第2層網絡可推動可伸縮性並降低交易成本

第2層網絡可推動可伸縮性並降低交易成本

Ethereum’s ecosystem continues to benefit from the rise of Layer-2 solutions, which are designed to enhance scalability and reduce transaction costs.

以太坊的生態系統繼續受益於第二層解決方案的興起，這些解決方案旨在提高可擴展性和降低交易成本。

Major financial institutions, including Coinbase and Robinhood, are leveraging Ethereum’s infrastructure to build Layer-2 networks, further solidifying its position as the leading smart contract platform.

包括Coinbase和Robinhood在內的主要金融機構正在利用以太坊的基礎設施來建立2層網絡，從而進一步鞏固了其作為領先的智能合同平台的地位。

For instance, Coinbase’s Base Layer-2 chain generates annual revenues of approximately $85 million in sequencer fees, highlighting the significant economic activity taking place within Ethereum’s ecosystem.

例如，Coinbase的基本層鏈的​​年收入約為8500萬美元的序列費，強調了以太坊生態系統中發生的重大經濟活動。

Moreover, Robinhood’s acquisition of crypto platform WonderFi underscores the growing interest of institutional investors in Ethereum-based solutions.

此外，Robinhood對加密平台Wonderfi的收購強調了機構投資者對基於以太坊的解決方案的日益增長的興趣。

These developments drive demand for ETH as gas fees and settlement currency, bolstering its relevance in the broader blockchain space.

這些發展推動了對ETH的需求，因為汽油費和和解貨幣，增強了其在更廣泛的區塊鏈領域中的相關性。

Broader Crypto Narrative Shifts Beyond Bitcoin

更廣泛的加密敘事超越比特幣的轉變

更廣泛的加密敘事超越比特幣的轉變

The crypto narrative is expanding beyond Bitcoin, with increased focus on use cases such as stablecoin payments and securities tokenization. Ethereum dominates the stablecoin market, holding a 51% share of minted stablecoin supply.

加密敘事正在擴大比特幣之外，越來越多地關注用例，例如Stablecoin支付和證券令牌化。以太坊占主導地位的穩定市場，持有鑄造穩定量的51％份額。

High-profile moves by companies like Stripe and Meta have further renewed interest in Ethereum’s role as the backbone of stablecoin infrastructure.

Stripe和Meta等公司的引人注目的舉動進一步引起了以太坊作為Stablecoin基礎設施的骨幹的興趣。

This shift in narrative positions Ethereum as a key player in real-world adoption and institutional blockchain use cases, providing additional tailwinds for its price rally.

敘事立場的這種轉變將以太坊作為現實領養和機構區塊鏈用例中的關鍵參與者，為其價格集會提供了額外的逆風。

However, it’s important to note that despite the bullish momentum, Ethereum faces challenges that could impact its price trajectory.

但是，重要的是要注意，儘管有看漲的動力，以太坊仍面臨可能影響其價格軌蹟的挑戰。

Reduced network activity has led to an 85% drop in gas fees from January to April, which may negatively affect staking yields and overall demand for ETH.

從1月到4月，網絡活動減少導致汽油費下降了85％，這可能會對Staking產量和對ETH的總體需求產生負面影響。

Additionally, on-chain metrics reveal a lack of interest among whales, with significant sell-offs observed in recent weeks as large investors appear to be exiting their positions.

此外，鍊鍊指標表明，鯨魚之間缺乏興趣，最近幾週觀察到大量拋售，因為大型投資者似乎正在退出其頭寸。

Investors should also be cautious of potential resistance levels at $2,800–$3,000, which could act as barriers to further upside. Failure to break these levels may result in a pullback, with key support zones at $1,724 and $

投資者還應謹慎對待潛在的抵抗水平，$ 2,800- $ 3,000，這可能是進一步上漲的障礙。未能打破這些水平可能會導致回調，密鑰支撐區為$ 1,724和$