如果比特币是硬币市场的皇帝，以太坊是王储。

这是因为市值仅次于比特币，据说在使用区块链的各种技术中都是出色的

If Bitcoin is the emperor in the coin market, Ethereum is the crown prince. This is because the market capitalization is second only to Bitcoin and is said to be excellent in various technologies using blockchain such as smart contracts. At one point, it was evaluated that its future growth potential surpassed Bitcoin.

如果比特币是硬币市场的皇帝，以太坊是王储。这是因为市值仅次于比特币，据说在使用智能合约等区块链的各种技术中都非常出色。在某一时刻，评估其未来的增长潜力超过了比特币。

Recently, however, Ethereum's rise, which has been quiet for a while, is unusual. In a week, Ethereum surged more than 40%, easily surpassing Bitcoin's rise.

然而，最近，以太坊的崛起已经安静了一段时间，这是不寻常的。一周内，以太坊飙升了40％以上，很容易超过比特币的上升。

In particular, investors' attention has been focused on the recent surge as it has been pointed out that it is a reasonable rise in terms of technology or the supply and demand of funds.

特别是，投资者的注意力集中在最近的激增上，因为有人指出，这在技术或资金的供应和需求方面是合理的上升。

In May, Ethereum is recording a particularly high rise compared to other coins amid a warm wind in the coin market due to U.S.-China tariff negotiations.

5月，由于美国 - 中国关税谈判在硬币市场中的热风中，与其他硬币相比，以太坊的增长幅度特别高。

As of the 14th, Ethereum prices rose 46.7% from the previous week to 3,744,000 won. Bitcoin rose by 8% and XRP and Solana rose by 2 to 5 times.

截至14日，以太坊价格从上周上涨了46.7％，达到3,744,000韩元。比特币上升了8％，XRP和Solana上升了2至5次。

The main reason for the surge in Ethereum is the technical aspect first.

以太坊激增的主要原因首先是技术方面。

Ethereum's Pectra upgrade was completed on the 7th. Pectra is a major change in four years since the Merge upgrade, which is considered to have opened the era of Ethereum 2.0 by changing the consensus algorithm from proof-of-work (PoW)-based mining like Bitcoin to a proof-of-stake (PoS) method similar to the financial system.

以太坊的Pectra升级于7日完成。 Pectra是自合并升级以来四年来的重大变化，该升级被认为通过将共识算法从工作证明（POW）的采矿（如比特币）更改为与金融系统类似的订单证明（POS）方法，从而打开了以太坊2.0时代。

The key is to expand the limit of staking implemented by the PoS method from 32 ETH to 2048 ETH, which has increased 64 times. It is evaluated that the stability and security of the entire Ethereum system have been strengthened by expanding opportunities for institutional investors and large capital to participate.

关键是要将POS方法实施的股权限制从32 ETH扩大到2048 ETH，该元素增加了64倍。可以评估，通过扩大机构投资者和大型资本参与的机会，可以加强整个以太坊系统的稳定性和安全性。

On top of that, major changes include improving the operational efficiency of verifiers essential for network operation, expanding smart contract functions essential for the development of decentralized finance, and strengthening the scalability of Layer 2, another blockchain main net based on Ethereum.

最重要的是，重大变化包括提高对网络操作必不可少的验证者的运行效率，扩大对分散融资的发展至关重要的智能合约功能，并增强基于以太坊的另一个区块链主网2层的可扩展性。

In particular, the Pectra upgrade received a lot of attention as it was completed stably on the day of implementation without any noise. In the past, large upgrades to Ethereum have caused various controversies, including network outages. Some items were missing from the originally scheduled upgrade due to lack of preparation. However, the upgrade drew favorable reviews that the stability of Ethereum 2.0 was on track as everything scheduled from the start to completion went on quickly.

特别是，pectra升级在实施当天稳定完成，而没有任何噪音，因此受到了很多关注。过去，对以太坊的大量升级引起了各种争议，包括网络中断。由于缺乏准备，因此原定的计划升级缺少了一些项目。但是，升级吸引了有利的评论，即以太坊2.0的稳定性已步入正轨，因为从开始到完成的所有内容都很快就进行了。

In addition, the Pectra upgrade is seen as an example of proving that Ethereum has a higher technological superiority than competitors such as Solana and Sui, inducing high responses from institutional investors. Noah Davis, head of research at Mesari, a blockchain analysis company, said, "The upgrade of Perfectra is an important turning point for Ethereum to leap into global financial infrastructure," adding, "The expansion of the stake limit will be a factor that lowers barriers to participation by institutional investors."

此外，Pectra升级被视为证明以太坊具有比Solana和Sui等竞争对手更高的技术优势的例子，从而引起了机构投资者的高度反应。区块链分析公司Mesari研究负责人诺亚·戴维斯（Noah Davis）表示：“ Perfectra的升级是以太坊跃入全球财务基础设施的重要转折点，“补充说，“施加限制的扩展将是降低机构投资者参与障碍的因素。”

In the recent trend of real asset tokenization (RWA), many predict that Ethereum's technological superiority will lead to actual cases. JPMorgan and Goldman Sachs are already building their digital asset platforms based on Ethereum. BlackRock's first tokenization fund, BUIDL, was also the first to be issued on Ethereum.

在最新的真实资产令牌化（RWA）的趋势中，许多人预测以太坊的技术优势将导致实际情况。摩根大通和高盛已经在基于以太坊建立了数字资产平台。贝莱德（Blackrock）的第一个令牌化基金Buidl也是第一个在以太坊上发行的人。

As demand for Ethereum increases, the future price outlook is also positive. In the Ethereum options market on the Chicago Mercantile Exchange (CME), the volume of call options, which expects Ethereum to be priced at $10,000 at the end of this year, has increased significantly recently. It is interpreted that the number of investors betting on strength based on technological superiority has increased.

随着对以太坊的需求的增加，未来的价格前景也是积极的。在芝加哥商业交易所（CME）的以太坊期权市场中，呼叫期权的数量预计以太坊在今年年底的价格将为10,000美元，最近有了显着增长。可以解释出，基于技术优势的投资者的投资者数量有所增加。

Given the recent boom in the coin market as a whole, some analysts say that Ethereum has only soared for a short time due to its low-priced appeal. This is because Ethereum was rather at a standstill when Bitcoin rose up to seven times over the past three years, including a new all-time high in January this year. Although it has soared recently, the price of Ethereum is around 65% compared to its all-time high.

鉴于最近在硬币市场的繁荣，一些分析人士说，由于其低价吸引力，以太坊仅在短时间内飙升。这是因为在过去三年中，比特币上升到7次，包括今年1月的新历史最高点时，以太坊处于停滞状态。尽管它最近飙升，但以太坊的价格约为65％，而其历史最高水平。

The reason for Ethereum's relative weakness compared to Bitcoin is that it is relatively shunned by investors. Since the launch of the Exchange Traded Fund (ETF), demand from institutional investors has been concentrated in Bitcoin. Bitcoin prices have nearly tripled since the launch of spot ETFs in January last year, but Ethereum has fallen in price since its launch in July, contrary to expectations. This is because institutional investors only organize Bitcoin in the coin sector among their investment portfolios. This is the result of institutional investors investing first in Bitcoin's digital gold properties and taking a wait-and-see stance on Ethereum's decentralized financial growth.

与比特币相比，以太坊相对弱点的原因是，它相对被投资者所避开。自交易所交易基金（ETF）推出以来，机构投资者的需求集中在比特币上。自去年一月份推出现货ETF以来，比特币价格几乎增加了两倍，但是自7月推出以来，以太坊的价格下降了，这与期望相反。这是因为机构投资者仅在其投资组合中组织硬币行业的比特币。这是机构投资者首先投资于比特币的数字黄金物业，并对以太坊的分散财务增长采取拭目以待。

Recently, however, as the trend of financial innovation based on blockchain technology such as stablecoin and RWA has begun in earnest, interest in Ethereum is increasing.

但是，最近，随着基于Stablecoin和RWA等区块链技术的金融创新趋势已经开始认真，对以太坊的兴趣正在增加。

On top of that,

最重要的是