如果Pectra升級導致DAPP和以太坊網絡活動激增，以太坊（ETH）價格可以恢復

收回$ 2200的水平仍然是ETH的第一個價格挑戰。如果Pectra升級導致DAPP和以太坊網絡活動激增，則ETH價格可以恢復。

Key takeaways:

關鍵要點：

Reclaiming the $2,200 level remains the first price challenge for ETH.

回收2,200美元的水平仍然是ETH的首要價格挑戰。

ETH price could recover if the Pectra upgrade leads to a surge in DApp and Ethereum network activity.

如果Pectra升級導致DAPP和以太坊網絡活動激增，則ETH價格可以恢復。

Despite successfully implementing a key network upgrade on May 7, surprising traders, there’s still no clear chance of seeing Ether (ETH) rise 22% to retake the $2,200 mark.

儘管在5月7日成功實施了關鍵的網絡升級，但令人驚訝的交易員，但仍然沒有機會看到Ether（ETH）上漲22％可以重新獲得2,200美元。

According to data from crypto derivatives exchange Bitget, the ETH futures premium has remained below the 5% neutral threshold, indicating a lack of appetite from leveraged bulls. More significantly, this indicator showed little change at 3% after the Pectra upgrade, suggesting that traders did not adjust their positions despite the upgrade’s successful deployment.

根據加密衍生品交換位的數據，ETH Futures Premium仍低於5％的中性閾值，表明槓桿的公牛缺乏食慾。更重要的是，該指標在Pectra升級後顯示出3％的變化，這表明儘管升級成功地部署，交易者並未調整其頭寸。

Part of the subdued response can be attributed to investors’ focus on macroeconomic issues, especially with rising recession risks and uncertainty in global trade disputes. However, traders’ lack of interest in Ether predates the recent worsening of risk aversion conditions.

柔和的回應的一部分可以歸因於投資者對宏觀經濟問題的關注，尤其是隨著衰退風險的上升和全球貿易糾紛的不確定性的增加。但是，交易者對以太的興趣的缺乏早於最近的風險規避條件的惡化。

In the first three months of 2025, ETH suffered a 28% underperformance compared to the broader cryptocurrency market capitalization.

在2025年的前三個月中，與更廣泛的加密貨幣市值相比，ETH的表現不佳28％。

Lackluster price impact follows Pectra upgrade as blockchain competition intensifies

隨著區塊鏈競爭的加劇，Pectra升級後，Pectra升級後，價格低落的價格影響

The lackluster price impact following the Pectra upgrade also reflects broader dissatisfaction, as competitors like Solana and BNB Chain have been gaining traction.

pectra升級後的價格低落的影響也反映了更廣泛的不滿，因為諸如Solana和BNB連鎖店之類的競爭對手一直在受到關注。

Usually, high Ethereum base layer fees, which average $1 per transaction, limit network activity, but these costs have dropped below $1 since mid-February. Additionally, Ethereum’s leading layer-2 solution, Base, currently boasts 10.3 million monthly active users—far fewer than Solana’s 82.2 million and BNB Chain’s 25.9 million, according to Token Terminal data.

通常，以太坊基本層費用高，每筆交易平均$ 1限製網絡活動，但是自2月中旬以來，這些成本已降至1美元以下。此外，根據Token終端數據，以太坊領先的第2層解決方案目前擁有1,030萬個月活躍用戶，少於Solana的8220萬和BNB連鎖店的2590萬。

Solana has dominated the decentralized exchange sector, particularly in token launches, by offering an integrated user experience. Similarly, Hyperliquid has exceeded expectations in perpetual futures trading, demonstrating that traders’ primary focus is not necessarily on Ethereum’s decentralization and security. Meanwhile, Tron has made significant inroads in the stablecoin market.

Solana通過提供集成的用戶體驗來統治分散的交易所，尤其是在代幣啟動中。同樣，超級流動性超出了永久期貨交易的預期，這表明交易者的主要重點不一定是以太坊的權力下放和安全性。同時，Tron在Stablecoin市場中大大涉足。

Ethereum’s leadership in total value locked (TVL) remains undisputed at $53.7 billion. However, this has provided little benefit to ETH holders, as network fees have been relatively low at $19 million over the past 30 days, according to DefiLlama. For comparison, Tron has amassed $51.8 million in fees in the same period, and Solana has accrued $39.4 million.

以太坊的總價值鎖定（TVL）的領導能力仍然無可爭議，為537億美元。但是，這對ETH持有人幾乎沒有好處，因為在過去30天中，網絡費用相對較低，為1900萬美元。為了進行比較，Tron在同一時期積累了5180萬美元的費用，Solana的收入為3,940萬美元。

Noam Hurwitz, head of engineering at Alchemy, noted that Ethereum blob fees have dropped to their lowest possible level since the Pectra upgrade. For Hurwitz, Ether’s success depends on base layer scalability, including further improvements in the rollup mechanism, and ultimately, a more seamless user experience.

Alchemy工程主管Noam Hurwitz指出，自Pectra升級以來，以太坊斑點費用已下降到最低水平。對於Hurwitz而言，Ether的成功取決於基礎層的可擴展性，包括進一步改進匯總機制，最終是更無縫的用戶體驗。

Bridging assets and data across Ethereum’s layer-2 ecosystem has long been a challenge, while users on Solana and BNB Chain can easily switch between multiple decentralized applications (DApps). The Pectra upgrade, while a step in the right direction, does not resolve this issue, which explains why ETH has been unable to reclaim the $2,200 level seen in early March.

長期以來，以太坊2層生態系統的橋接資產和數據一直是一個挑戰，而Solana和BNB鏈的用戶可以輕鬆地在多個分散的應用程序（DAPP）之間切換。 Pectra升級雖然朝著正確的方向邁出了一步，但並未解決此問題，這解釋了為什麼ETH無法收回3月初看到的2,200美元。

For Ether’s price to climb 22% from its current $1,810 level, investors likely need reassurance that the network’s progress, whether through deposits or layer-2 growth, translates into clear benefits. Ultimately, improved staking yields or stronger incentives are needed to drive broader adoption of DApps, which in turn would generate increased demand for ETH within the ecosystem.

為了使以太的價格從目前的1,810美元降低22％，投資者可能需要保證該網絡的進步，無論是通過存款還是第二層增長，都可以轉化為明顯的收益。最終，需要提高積分產量或更強的激勵措施來推動對DAPP的更廣泛採用，這反過來又將在生態系統內增加對ETH的需求。