多頭瞄準 3,700 美元，投機者紛紛湧向 ETH

與比特幣和包括 Solana 在內的頂級山寨幣一樣，以太坊也保持穩定。截至撰寫本文時，其交易價格高於本地支撐位 3,300 美元，並進一步走高，目標為 3,700 美元。

Ethereum (ETH) price shows strength on Monday, holding above the local support at $3,300 and targeting $3,700 as bulls remain strong.

以太坊 (ETH) 價格週一表現強勁，維持在 3,300 美元的本地支撐位上方，由於多頭依然強勁，目標價為 3,700 美元。

The leg up comes as anticipation builds for the launch of spot Ethereum ETFs in the next few days. As seen on the daily chart, news of the U.S. Securities and Exchange Commission (SEC) fast-tracking the approval of 19b-4 forms sparked a wave of demand from May 20.

隨著人們對未來幾天推出貨以太坊 ETF 的預期不斷增強，這一趨勢也隨之而來。從日線圖上看，美國證券交易委員會（SEC）快速批准19b-4表格的訊息從5月20日起引發了一波需求。

However, speculators are also entering the scene as prices remain steady and uptrend. According to CryptoQuant data, the estimated leverage ratio has risen in the past few trading days.

然而，隨著價格保持穩定和上升趨勢，投機者也開始介入。根據CryptoQuant數據，預計槓桿率在過去幾個交易日有所上升。

This reading shows that the scene is receiving more leveraged traders who are keen on profiting from price volatility rather than benefiting from what ETH as a digital asset presents.

這個解讀表明，這一場景正在迎來更多的槓桿交易者，他們熱衷於從價格波動中獲利，而不是從 ETH 作為數位資產中獲益。

According to CryptoQuant, the estimated leverage ratio stood at 0.347 on July 16 before rising to 0.354 on July 17. The expansion suggests that traders are increasingly borrowing funds on perpetual trading platforms like Binance and OKX, hoping to make a killing if ETH bulls push prices above $3,700.

根據CryptoQuant 的數據，7 月16 日槓桿率預估為0.347，7 月17 日昇至0.354。 這種擴張表明交易者越來越多地在幣安和OKX 等永續交易平台上借入資金，希望在ETH 多頭推高價格時大賺一筆超過 3,700 美元。

As prices rally, the estimated leverage ratio will likely climb even higher. The local top is at 0.358, as recorded on July 14. The all-time leverage ratio was at 0.392, registered in early July 2024.

隨著價格上漲，預計槓桿率可能會進一步攀升。 7 月 14 日記錄的局部最高點為 0.358。2024 年 7 月初記錄的歷史槓桿率為 0.392。

Eyes On Spot Ethereum ETFs: Will It Be A Success?

關注現貨以太幣 ETF：會成功嗎？

Meanwhile, ETH traders have their eyes set on the launch of spot Ethereum ETFs, which they believe will push prices up, even breaching all-time highs.

同時，以太坊交易者正關注以太坊 ETF 現貨的推出，他們認為這將推高價格，甚至突破歷史新高。

The latest reports indicate that the derivative product will launch early next week, enabling institutional investors to gain exposure. The U.S. SEC has approved three issuers to launch.

最新報道顯示，該衍生產品將於下週初推出，使機構投資者能夠獲得投資。美國證券交易委員會已批准三個發行人發行。

However, it is expected that all spot Ethereum ETF applicants whose 19b-4 forms have been approved will be permitted to launch simultaneously.

不過，預計所有 19b-4 表格已獲得批准的現貨以太坊 ETF 申請人將被允許同時推出。

There is optimism that spot Ethereum ETFs will mirror the success of their spot Bitcoin ETFs. According to SosoValue, all spot Bitcoin ETF issuers collectively manage over $53 billion of BTC as of July 18.

人們樂觀地認為，現貨以太坊 ETF 將複製現貨比特幣 ETF 的成功。據 SosoValue 稱，截至 7 月 18 日，所有現貨比特幣 ETF 發行人總共管理超過 530 億美元的比特幣。

Despite the anticipation and expected positive impact on prices, the product will likely experience a different level of demand compared to when spot Bitcoin ETFs launched.

儘管對價格有預期和預期的正面影響，但與現貨比特幣 ETF 推出時相比，該產品的需求水準可能會有所不同。

Analysts attribute this to Ethereum’s lower market cap and the U.S. SEC’s decision not to allow spot ETF issuers to stake ETH. By staking, issuers would receive rewards on behalf of their clients.

分析師將此歸因於以太坊市值較低以及美國證券交易委員會不允許現貨 ETF 發行人持有 ETH 的決定。透過質押，發行人將代表其客戶獲得獎勵。