以太坊，加密鯨和機構暴露：紐約分鐘

潛入以太坊，加密鯨魚和機構暴露的世界。發現最新趨勢，見解以及對投資者的意義。

Ethereum, Crypto Whales, and Institutional Exposure: A New York Minute

以太坊，加密鯨和機構暴露：紐約分鐘

Ethereum, crypto whales, and institutional exposure are buzzwords lately. Let's break down what's happening and why it matters. Think of it as your express elevator ride to understanding the crypto high-rises.

最近，以太坊，加密鯨和機構暴露是流行語。讓我們分解發生的事情以及為什麼它很重要。將其視為您的快速電梯，以理解加密貨幣高層。

Whale Watching: Leveraged Longs and Market Sentiment

觀看鯨魚：利用渴望和市場情緒

A major crypto whale recently took a high-leverage long position in Ethereum (ETH) and Bitcoin (BTC), totaling over $41 million. This big player deposited $3 million USDC on Hyperliquid, a decentralized exchange, to establish a 20x leveraged long in ETH at $3,799.87 per token. This move indicates a growing trend: big investors are using extreme leverage (15x to 40x) because they think the market is undervalued. (Source: ainvest.com)

最近，一條主要的加密鯨在以太坊（ETH）和比特幣（BTC）中佔據了高槓桿率，總計超過4100萬美元。這位大型玩家將300萬美元的商品存入了一個分散的交易所Hyproliquid上，以將20倍利用的ETH槓桿化為3,799.87美元。此舉表明了一個增長的趨勢：大投資者正在使用極端槓桿（15倍至40倍），因為他們認為市場被低估了。 （來源：ainvest.com）

This Ethereum position alone shows a hefty unrealized profit, but it’s a high-risk, high-reward strategy. Bitcoin whale activity is also up, with entities holding 1,000+ BTC increasing by 1.8% in a week. Accumulation Trend Scores for both Bitcoin and Ethereum are near their highest levels since November 2024.

僅這個以太坊立場就表現出了巨大的未實現利潤，但這是一種高風險，高回報的策略。比特幣鯨活動也在增加，一周內擁有1,000多個BTC的實體增加了1.8％。比特幣和以太坊的累積趨勢得分均接近2024年11月以來的最高水平。

The Leverage Game: Risks and Rewards

槓桿遊戲：風險和獎勵

Rising Bitcoin futures funding rates support these leveraged positions, jumping from 0.0069 to 0.0107 in July 2025. This shows a strong demand for leveraged exposure, especially as investors anticipate a potential dovish pivot from the Federal Reserve. Bitcoin futures open interest hit $26.84 billion, highlighting significant institutional involvement.

比特幣期貨的上升資金籌資率支持這些槓桿職位，2025年7月從0.0069躍升至0.0107。這表明對槓桿風險的需求很強，尤其是因為投資者預計，聯邦儲備有潛在的折磨樞紐。比特幣期貨開放利息達到了268.4億美元，強調了機構的重大參與。

However, high leverage is a double-edged sword. A 5% drop in Ethereum’s price could wipe out the whale’s 20x leveraged position, potentially causing liquidations. Market sentiment is currently optimistic, with the Crypto Fear and Greed Index at 72, indicating “greed.” Historically, such levels have often preceded corrections.

但是，高槓桿是一把雙刃劍。以太坊的價格下降了5％，可以消除鯨魚的20倍槓杆位置，可能導致清算。市場情緒目前是樂觀的，加密貨幣恐懼和貪婪指數為72，表明“貪婪”。從歷史上看，這樣的級別通常是在更正之前進行的。

Coinbase's Bold Moves: Tokenized Stocks and More

Coinbase的大膽動作：象徵性股票等

Coinbase is gearing up to launch tokenized stocks, prediction markets, and early-stage token sales in the U.S., aiming for an "all-in-one trading platform." (Source: CNBC) This platform will combine traditional and digital financial instruments, offering a seamless experience for trading various on-chain assets. They're integrating decentralized exchange (DEX) trading into the Base App, allowing users to access millions of digital assets without leaving the platform. The ultimate goal? Bring derivatives and real-world assets onchain.

Coinbase正在準備在美國推出令牌化股票，預測市場和早期代幣銷售，旨在建立“多合一交易平台”。 （資料來源：CNBC）該平台將結合傳統和數字金融工具，為交易各種鏈上資產提供無縫的體驗。他們將分散的交易所（DEX）集成到基本應用程序中，使用戶可以訪問數百萬個數字資產而無需離開平台。最終目標？帶來衍生品和現實世界的資產。

Coinbase is also partnering with JPMorgan Chase, allowing Chase customers to fund their Coinbase accounts with credit cards and potentially convert loyalty points into stablecoins. This move could lower barriers for traditional investors entering the crypto space.

Coinbase還與摩根大通（JPMorgan Chase）合作，允許Chase客戶通過信用卡為其Coinbase帳戶提供資金，並可能將忠誠度點轉換為Stablecoins。此舉可能會降低進入加密貨幣領域的傳統投資者的障礙。

Whales and Their Altcoin Picks

鯨魚及其山寨幣選擇

As the FOMC announcement approaches, crypto whales are strategically investing in assets offering both safety and growth potential. Cryptocurrencies like Ondo (ONDO), Curve DAO (CRV), and Blockstreet (BLOCK) are seeing increased whale activity. Ondo, focusing on stability, is seen as a safe haven amidst interest rate policy changes. Curve DAO is attractive for its growth potential and portfolio diversification benefits within the DeFi sector. Blockstreet has seen a surge in ownership, indicating optimism about its long-term prospects.

隨著FOMC公告的臨近，加密鯨魚從戰略上投資於提供安全性和增長潛力的資產。諸如Ondo（Ondo），曲線DAO（CRV）和Blockstreet（Block）之類的加密貨幣正在看到鯨魚活動增加。在利率政策變化中，專注於穩定性的Ondo被視為避風港。曲線DAO以其增長潛力和投資組合多元化的益處具有吸引力。 Blockstreet的所有權激增，表明其長期前景的樂觀情緒。

Cantor Fitzgerald's $4 Billion Bitcoin Bet

坎托·菲茨杰拉德（Cantor Fitzgerald）的40億美元比特幣押注

Cantor Fitzgerald, a Wall Street investment bank, is in advanced talks to acquire a substantial Bitcoin treasury potentially exceeding $4 billion. (Source: yellow.com) They're using a special purpose acquisition company (SPAC) to acquire around 30,000 BTC from Blockstream Capital, valued at about $3 billion. This move expands institutional exposure to Bitcoin, aligning with growing interest as firms seek alternative investments.

華爾街投資銀行坎托·菲茨杰拉德（Cantor Fitzgerald）正在進行高級會談，以收購可能超過40億美元的大量比特幣國庫。 （資料來源：Yellow.com）他們使用特殊目的收購公司（SPAC）從Blockstream Capital收購約30,000 BTC，價值約30億美元。這一舉動擴大了機構對比特幣的影響，隨著公司尋求替代投資，與日益增長的興趣保持一致。

This SPAC transaction facilitates direct Bitcoin ownership, bypassing spot Bitcoin ETFs due to regulatory uncertainties. Adam Back, founder of Blockstream Capital, will receive equity in BSTR Holdings, highlighting the strategic alignment between traditional finance and crypto infrastructure. This deal could mirror MicroStrategy’s large-scale Bitcoin purchases, driving price rallies and liquidity increases.

該SPAC交易有助於直接的比特幣所有權，由於監管不確定性而繞開了現貨比特幣ETF。 Blockstream Capital的創始人Adam Back將在BSTR Holdings中獲得權益，從而強調傳統金融與加密基礎設施之間的戰略一致性。這項交易可以反映微觀彌補的大規模比特幣購買，推動價格集會和流動性增加。

Navigating the Crypto Waters: A Balanced Approach

導航加密水域：平衡的方法

For investors, navigating this environment requires a balanced approach. Consider diversifying leverage sources across centralized and decentralized platforms, hedging with stablecoins like USDC, and monitoring whale activity via on-chain data. Treat whale activity as a signal, not a direct trading cue. Stay cautious and diversified.

對於投資者而言，導航這種環境需要平衡的方法。考慮在集中式和分散的平台上多樣化的槓桿來源，與USDC這樣的Stablecoins進行對沖，並通過鍊鍊數據監測鯨魚活動。將鯨魚活動視為信號，而不是直接交易提示。保持謹慎和多元化。

Final Thoughts: Keep Your Eyes on the Horizon

最終想法：保持視線

The crypto market in July 2025 is a mix of institutional confidence and speculative overextension. While accumulation trends in Bitcoin and Ethereum are strong, widespread use of high leverage means the market could be vulnerable to corrections. So, buckle up, keep your eyes peeled, and remember: in the world of crypto, anything can happen. It’s all part of the adventure, right?

2025年7月的加密市場是機構信心和過度延伸的混合。儘管比特幣和以太坊中的積累趨勢很強，但高槓桿的廣泛使用意味著市場可能容易受到矯正。因此，扣緊，保持眼睛剝落，並記住：在加密貨幣世界中，一切都會發生。這都是冒險的一部分，對嗎？