以太坊（ETH）的稀缺性可能比之前预期的还要严重

根据测量，数字货币以太坊（ETH）的稀缺性可能比之前预期的更加严重。链上数据显示，以太坊现在正在以超过比特币的速度添加到网络中。

Ethereum scarcity is outpacing Bitcoin as anticipation for an ETF and rising investor interest is driving a huge demand surge for ETH.

由于对 ETF 的预期以及投资者兴趣的上升推动了对 ETH 的需求大幅增长，以太坊的稀缺性正在超过比特币。

Analyzing Ethereum and Bitcoin Exchange Balances

分析以太坊和比特币交易余额

Metrics show that Ethereum (ETH) might be experiencing more scarcity than initially realized. On-chain data shows that the rate at which Ethereum is being added to the network has surpassed that of Bitcoin.

指标显示，以太坊（ETH）的稀缺性可能比最初意识到的还要严重。链上数据显示，以太坊加入网络的速度已经超过了比特币。

According to data highlighted by BTC-Echo's @LeonWaidmann, Ethereum is actually becoming scarcer than Bitcoin. While metrics show how Bitcoin and Ethereum have fared individually, their relative scarcity in terms of exchange balances is also key.

根据 BTC-Echo 的 @LeonWaidmann 强调的数据，以太坊实际上变得比比特币更稀缺。虽然指标显示了比特币和以太坊各自的表现，但它们在交易余额方面的相对稀缺性也是关键。

The latest Glassnode data shared by Waidmann shows that the current Ethereum exchange balance is at 10.189%. In comparison, Bitcoin's exchange balance is at 15.08%, indicating that the gap is closing.

Waidmann分享的最新Glassnode数据显示，目前以太坊交易余额为10.189%。相比之下，比特币的交易余额为 15.08%，表明差距正在缩小。

ETF Anticipation Is Dictating Market Activity

ETF 预期决定市场活动

Demand for Ethereum (ETH) has surged following reports of a spot Ethereum ETF. Investors began buying up Ethereum at a rapid pace, overwhelming trading platforms. The activity makes sense, especially considering that Wall Street money is also expected to be buying up ETH once the ETF launches.

在以太坊 ETF 现货报道发布后，对以太坊 (ETH) 的需求激增。投资者开始快速购买以太坊，压垮了交易平台。这一活动是有道理的，特别是考虑到一旦 ETF 推出，华尔街资金预计也会买入 ETH。

As Coingape highlights, this anticipation is supported by the activity observed with spot Bitcoin ETF products. Notably, companies like Susquehanna International Group (SIG) reportedly poured resources into buying up the Bitcoin ETF when it launched in January. These buyups are said to have contributed to Bitcoin's price reaching an ATH of $73,750.07.

正如 Coingape 所强调的那样，这种预期得到了现货比特币 ETF 产品观察到的活动的支持。值得注意的是，据报道，萨斯奎哈纳国际集团 (SIG) 等公司在 1 月份推出比特币 ETF 时投入了大量资源来购买它。据说这些收购促使比特币的价格达到了 73,750.07 美元。

Current Ethereum Price Movements

当前以太坊价格走势

Despite the suggestion that Ethereum's exchange balance is depleting quickly, the impact on the coin's price is not yet evident. Ethereum is trading at $2,983.03 per coin, down by 2.31% over the last 24 hours. The coin's 24-hour trading price saw a low of $2,956.99 and a high of $3,080.11.

尽管有迹象表明以太坊的交易余额正在迅速耗尽，但对代币价格的影响尚不明显。以太坊的交易价格为每枚币 2,983.03 美元，在过去 24 小时内下跌 2.31%。该币的24小时交易价格最低为2,956.99美元，最高为3,080.11美元。

At this point, the next development for Ethereum will largely depend on the US Securities and Exchange Commission, which has been the subject of anticipation for an extended period. After approving 19b-4 forms for spot Ethereum ETF applications a few weeks ago, the Commission is yet to approve S-1 filings.

目前来看，以太坊的下一步发展将很大程度上取决于长期以来一直备受期待的美国证券交易委员会。在几周前批准现货以太坊 ETF 申请的 19b-4 表格后，委员会尚未批准 S-1 申请。