5月8日，ETH价格上涨22％，但对现场ETF和衍生品的需求仍然存在。

ETH价格在5月8日上涨了22％，但对现场ETF和衍生品的需求仍然存在。

The price of Ether (ETH) surged by 22% on Monday, hitting a four-year high as President Donald Trump's reversal on certain altcoins coincided with the token's upbeat outlook.

周一，以太（ETH）的价格飙升了22％，唐纳德·特朗普总统在某些山寨币上的逆转与代币的乐观前景相吻合。

According to data from Benzinga, the third-largest cryptocurrency rallied to a high of $2,602 by 07:30 ET (11:30 GMT) on Monday, marking a 29% surge over the previous 48 hours.

根据Benzinga的数据，第三大加密货币在周一（格林尼治标准时间11:30）上升到2,602美元，高达2,602美元，标志着前48小时的29％涨幅。

This sharp price move ultimately triggered the liquidation of over $400 million in short (sell) ETH futures positions, catching whales and market makers off guard.

这种尖锐的价格转移最终引发了短暂（卖出）期货职位超过4亿美元的清算，使鲸鱼和做市商措手不及。

Despite the significant price increase, traders remained neutral on Ether derivatives, and there was minimal demand for spot Ether exchange-traded funds (ETFs), which could be a key warning sign.

尽管价格大幅上涨，但交易者仍然对以太衍生物保持中立，并且对现货以太交易所资金（ETF）的需求最少，这可能是一个关键的警告信号。

The enthusiasm for Ether seemed muted even after it experienced its strongest single-day price performance in four years. According to data from Farside Investors, U.S.-listed Ether spot ETFs experienced net outflows for a third consecutive day on Monday, with a total of $16 million in net outflows.

即使在四年内经历了其最强劲的单日价格表现之后，对以太的热情似乎也陷入困境。根据Farside Investors的数据，周一连续第三天，美国上市的Ether Spot ETF经历了净流出，总净流出额为1600万美元。

The lack of interest from traders in the world’s second-largest cryptocurrency despite its recent bullish momentum can be attributed in part to the sharp 85% drop in Ethereum network fees from January to April, as reported by CCData.

据CCDATA报道，尽管最近的看涨势头，但贸易商在最近的看涨势头上缺乏兴趣，但它的一部分是由于CCDATA报道，从1月至4月的85％下降了85％的以太坊网络费用下降。

The reduced activity levels lower overall demand for ETH and have a negative impact on net staking yields. This is because the protocol’s burn mechanism, which is designed to reduce the token’s supply and potentially increase its price, relies on competition for data processing, which in turn generates the gas fees that are used to burn the tokens.

降低的活动水平降低了对ETH的总体需求，并对净活力产量产生负面影响。这是因为该协议的燃烧机制旨在减少令牌的供应并可能提高其价格，它依赖于数据处理的竞争，这又产生了用于燃烧代币的汽油费用。

Furthermore, the options markets offer valuable insights into whether whales and market makers anticipate further downside risks.

此外，期权市场对鲸鱼和做市商是否期望进一步的下行风险提供了宝贵的见解。

The put (sell) options are currently trading at similar levels to the equivalent call (buy) options, which indicates a neutral market sentiment. This outcome is somewhat discouraging for Ether bulls.

目前（卖出）期权目前的交易水平与同等电话（买）选项相似，这表明中立市场情绪。对于以太公牛来说，这种结果有些灰心。

However, the cryptocurrency could regain attention following reports that President Trump had reversed his position on certain cryptocurrencies following earlier public endorsements of competing tokens.

但是，在有报道称特朗普总统在公众认可竞争代币之后，特朗普总统扭转了对某些加密货币的立场，因此加密货币可能会重新引起注意。

According to a Politico report published on Monday, President Trump felt he had been "used" and severed ties with the lobbyist who reportedly proposed the idea of a strategic crypto reserve.

根据周一发布的一份政治报告，特朗普总统认为他已经被“使用”，并与游说者切断了联系，该游说者据报道提出了战略性加密保护区的想法。

While Trump's social media post on March 2 specifically mentioned Solana (SOL), Cardano (ADA), and XRP, the subsequent March 6 "Digital Asset Stockpile" Executive Order struck a more reserved tone.

虽然特朗普在3月2日发表的社交媒体帖子特别提到了Solana（Sol），Cardano（ADA）和XRP，但随后3月6日的“ Digital Asset Stockpile”行政命令提出了更为保留的基调。