以太坊（ETH）偷了比特幣的雷聲，本月飆升45％

第二大加密貨幣Ether正在以本月下令人jaw目結舌的45％速度搶走比特幣的雷聲，其表現最強

Ether (CRYPTO: ETH) has outperformed Bitcoin (CRYPTO: BTC) with a staggering 45% surge this month, marking its strongest performance since late 2021.

Ether（Crypto：ETH）的表現超過了比特幣（加密：BTC），本月的增長驚人45％，這是其自2021年底以來最強的表現。

After months of lagging behind rivals like Bitcoin and Solana (CRYPTO: SOL), the second-largest cryptocurrency is roaring back.

經過幾個月的落後，諸如比特幣和索拉納（Crypto：Sol）等競爭對手之後，第二大加密貨幣正在咆哮。

Fueled by a major blockchain upgrade, shifting investor sentiment, and fresh institutional interest, Ether’s rally could be signaling a potential turning point. Let's unpack the forces behind this crypto comeback.

在重大區塊鏈升級，轉移投資者的情緒和新的機構興趣的推動下，以太集會可能表明潛在的轉折點。讓我們解開此加密貨幣捲土重來背後的力量。

Pectra Upgrade Sparks Ether Rally

Pectra升級火花以太集會

The long-awaited Pectra upgrade, launched on May 7, set the stage for Ether’s rally. This overhaul, the largest since 2022, boosts transaction efficiency, slashes costs, and simplifies smart contract interactions.

期待已久的Pectra升級於5月7日推出，為Ether的集會奠定了基礎。這項大修是自2022年以來最大的大修，提高了交易效率，削減了成本並簡化了智能合約的交互。

Traders reacted swiftly: Ether’s price surged 21% within days, while open interest in derivatives soared to $25.8 billion. Alex Cheung of Abra Prime says the upgrade positions Ethereum to handle growing Web3 demand.

貿易商迅速做出反應：以太價格在幾天內飆升了21％，而對衍生品的開放興趣飆升至258億美元。 Abra Prime的Alex Cheung說，升級位置以太坊以應對不斷增長的Web3需求。

Meanwhile, the ETH/BTC ratio rebounded from five-year lows, signaling renewed confidence. “Pectra makes Ethereum faster and cheaper,” Cheung adds. “That’s critical for mass adoption.”

同時，ETH/BTC的比率從五年低點反彈，這表明了信心的信號。 “ Pectra使以太坊更快，更便宜，” Cheung補充說。 “這對於大規模收養至關重要。”

Crypto Sentiment Surges After Tariffs Pause

關稅暫停後的加密情緒激增

Risk appetite surged globally after the U.S. and China paused tariff hikes, setting the stage for rallies in both stocks and crypto. The Nasdaq (NDAQ:NDAQ) fully exited bear market territory, while the S&P 500 is now set to close 2024 in the green.

在美國和中國停止關稅加息之後，全球風險的胃口激增，為股票和加密貨幣的集會奠定了基礎。納斯達克（NDAQ：NDAQ）完全退出了熊市市場，而標準普爾500標準普爾500現在將在綠色的2024年關閉2024年。

This shift occurred after months of sluggish performance by U.S. equities, largely blamed on rising interest rates and the threat of a recession. However, the outlook changed drastically in April with the U.S. signaling a pause in the rate hikes.

這次轉變發生在美國股票表現緩慢的幾個月後，主要歸咎於利率上升和經濟衰退的威脅。但是，四月份的前景發生了巨大變化，美國表明息息息息。

This development sparked a broad-based rally, with tech stocks leading the charge. The world’s largest cryptocurrency, Bitcoin, also rose to fresh highs for the year.

這一發展引發了一個基於廣泛的集會，技術股票領先。全球最大的加密貨幣比特幣在一年中也升至新鮮的高點。

Moreover, derivatives traders ramped up bullish bets on U.S. equities, anticipating further gains in the second half of 2024.

此外，衍生品貿易商加劇了對美國股票的看漲賭注，預計在2024年下半年將進一步增長。

The shift in investor sentiment comes after a period of focus on Bitcoin, which traders believe has reached a critical juncture. As the world’s leading cryptocurrency stabilized near record highs, traders pivoted their attention to Ether.

投資者情緒的轉變是在關注比特幣的時期之後，交易者認為這已經達到了關鍵時刻。隨著世界領先的加密貨幣穩定在創紀錄的高點附近，交易者將注意力轉向以太。

Despite a 37% decline from its 2021 peak, Ether still has room for further gains, according to traders. This shift in focus is noteworthy, as it typically occurs when altcoins begin surging after Bitcoin plateaus in a bull run.

據Traders稱，儘管其2021年的峰值下降了37％，但Ether仍然有進一步的增長空間。人們值得注意的是，這種轉變通常是當山寨幣在公牛奔跑中開始飆升時發生的。

Institutions Prefer Ether ETFs Over Bitcoin

機構比比特幣更喜歡EthE ETF

The recent launch of U.S. spot Ether ETFs in July has seen a strong start, attracting $577 million in inflows. This surpasses the pace at which Bitcoin funds attracted inflows late last year.

7月份美國現場ETEF最近推出的Ether ETF的開端很強，吸引了5.77億美元的流入。這超過了去年年底比特幣資金吸引流入的速度。

Institutions are increasingly betting on blockchain technology, particularly with the growing use of Ethereum for tokenizing assets.

機構越來越多地押注區塊鏈技術，尤其是隨著以太坊不斷擴大用於令牌資產的利用。

BlackRock (NYSE:BLK) is spearheading this move, having now tokenized over $6.9 billion in real-world assets, including bonds and commodities, on Ethereum’s blockchain. These tokens are designed for use in decentralized finance (DeFi) applications.

BlackRock（NYSE：BLK）率領這一舉動，現在已經在以太坊的區塊鏈上給了超過69億美元的現實資產，包括債券和商品。這些代幣設計用於分散融資（DEFI）應用程序。

“Institutions are now viewing Ether not merely as a currency, but as the fabric upon which institutions are building the next generation of financial products,” says Gautam Chhugani, an analyst at Bernstein.

伯恩斯坦（Bernstein）的分析師高塔姆·舒加尼（Gautam Chhugani）說：“機構現在不僅將以太視為一種貨幣，而且是機構正在建立下一代金融產品的結構。”

DeFi platforms and Layer-2 solutions like Arbitrum are streamlining smart contract deployment and slashing gas fees, further attracting enterprises. This institutionalization separates Ether from Bitcoin’s “digital gold” narrative and positions it as a key technology.

DEFI平台和諸如Nixum之類的第2層解決方案正在簡化智能合同部署並削減汽油費，從而進一步吸引了企業。這種制度化將以太幣與比特幣的“數字黃金”敘述分開，並將其定位為關鍵技術。

Short Liquidations And Mega-Whales

簡短的清算和巨鯨

A $437 million frenzy of short liquidations also supercharged Ether’s surge. As prices climbed rapidly, bearish traders were forced to unwind their positions, generating additional buying pressure.

一筆4.37億美元的狂熱清算也增強了以太的激增。隨著價格迅速上漲，看跌貿易商被迫放鬆自己的頭寸，從而產生額外的購買壓力。

At the same time, Ethereum’s “mega-whales” — traders holding at least 10,000 ETH — were busy gobbling up tokens, accumulating a total of 40.75 million ETH, the most since March 2024.

同時，以太坊的“巨型鯨魚”（至少擁有10,000 ETH的交易者）正忙於吞噬令牌，積累了4075萬ETH，這是自2024年3月以來的最多。

“When whales accumulate like this, it usually attracts interest from smaller traders,” said Joel Kruger, an analyst at LMAX. The ETH/BTC ratio’s return to 0.035 also lured investors who typically bet on an “altseason.”

LMAX的分析師喬爾·克魯格（Joel Kruger）說：“當鯨魚像這樣積累時，它通常會引起較小的商人的興趣。” ETH/BTC比率的重返0.035也引起了通常在“季后賽”下注的投資者。

In previous cycles, a sustained rally in Ether has often foreshadowed gains in smaller cryptocurrencies like Solana and Cardano (CRYPTO: ADA).

在以前的周期中，以太的持續集會經常預示著較小的加密貨幣（如Solana和Cardano）（加密：ADA）的收益。

What's Next For Ether?

以太的下一步是什麼？

Almost 28% of Ether’s total supply is now locked in staking contracts, which yield around 3% annually. This reduces the amount of tokens available for trading, thereby amplifying price movements when demand spikes.

現在，Ether總供應量的近28％鎖定合同，該合同每年約為3％。這減少了可用於交易的代幣數量，從而在需求峰值時擴大了價格變動。

With the Federal Reserve set to cut interest rates later this year, the appeal of

隨著美聯儲將於今年晚些時候降低利率，因此