如果Pectra升级导致DAPP和以太坊网络活动激增，以太坊（ETH）价格可以恢复

收回$ 2200的水平仍然是ETH的第一个价格挑战。如果Pectra升级导致DAPP和以太坊网络活动激增，则ETH价格可以恢复。

Key takeaways:

关键要点：

Reclaiming the $2,200 level remains the first price challenge for ETH.

回收2,200美元的水平仍然是ETH的首要价格挑战。

ETH price could recover if the Pectra upgrade leads to a surge in DApp and Ethereum network activity.

如果Pectra升级导致DAPP和以太坊网络活动激增，则ETH价格可以恢复。

Despite successfully implementing a key network upgrade on May 7, surprising traders, there’s still no clear chance of seeing Ether (ETH) rise 22% to retake the $2,200 mark.

尽管在5月7日成功实施了关键的网络升级，但令人惊讶的交易员，但仍然没有机会看到Ether（ETH）上涨22％可以重新获得2,200美元。

According to data from crypto derivatives exchange Bitget, the ETH futures premium has remained below the 5% neutral threshold, indicating a lack of appetite from leveraged bulls. More significantly, this indicator showed little change at 3% after the Pectra upgrade, suggesting that traders did not adjust their positions despite the upgrade’s successful deployment.

根据加密衍生品交换位的数据，ETH Futures Premium仍低于5％的中性阈值，表明杠杆的公牛缺乏食欲。更重要的是，该指标在Pectra升级后显示出3％的变化，这表明尽管升级成功地部署，交易者并未调整其头寸。

Part of the subdued response can be attributed to investors’ focus on macroeconomic issues, especially with rising recession risks and uncertainty in global trade disputes. However, traders’ lack of interest in Ether predates the recent worsening of risk aversion conditions.

柔和的回应的一部分可以归因于投资者对宏观经济问题的关注，尤其是随着衰退风险的上升和全球贸易纠纷的不确定性的增加。但是，交易者对以太的兴趣的缺乏早于最近的风险规避条件的恶化。

In the first three months of 2025, ETH suffered a 28% underperformance compared to the broader cryptocurrency market capitalization.

在2025年的前三个月中，与更广泛的加密货币市值相比，ETH的表现不佳28％。

Lackluster price impact follows Pectra upgrade as blockchain competition intensifies

随着区块链竞争的加剧，Pectra升级后，Pectra升级后，价格低落的价格影响

The lackluster price impact following the Pectra upgrade also reflects broader dissatisfaction, as competitors like Solana and BNB Chain have been gaining traction.

pectra升级后的价格低落的影响也反映了更广泛的不满，因为诸如Solana和BNB连锁店之类的竞争对手一直在受到关注。

Usually, high Ethereum base layer fees, which average $1 per transaction, limit network activity, but these costs have dropped below $1 since mid-February. Additionally, Ethereum’s leading layer-2 solution, Base, currently boasts 10.3 million monthly active users—far fewer than Solana’s 82.2 million and BNB Chain’s 25.9 million, according to Token Terminal data.

通常，以太坊基本层费用高，每笔交易平均$ 1限制网络活动，但是自2月中旬以来，这些成本已降至1美元以下。此外，根据Token终端数据，以太坊领先的第2层解决方案目前拥有1,030万个月活跃用户，少于Solana的8220万和BNB连锁店的2590万。

Solana has dominated the decentralized exchange sector, particularly in token launches, by offering an integrated user experience. Similarly, Hyperliquid has exceeded expectations in perpetual futures trading, demonstrating that traders’ primary focus is not necessarily on Ethereum’s decentralization and security. Meanwhile, Tron has made significant inroads in the stablecoin market.

Solana通过提供集成的用户体验来统治分散的交易所，尤其是在代币启动中。同样，超级流动性超出了永久期货交易的预期，这表明交易者的主要重点不一定是以太坊的权力下放和安全性。同时，Tron在Stablecoin市场中大大涉足。

Ethereum’s leadership in total value locked (TVL) remains undisputed at $53.7 billion. However, this has provided little benefit to ETH holders, as network fees have been relatively low at $19 million over the past 30 days, according to DefiLlama. For comparison, Tron has amassed $51.8 million in fees in the same period, and Solana has accrued $39.4 million.

以太坊的总价值锁定（TVL）的领导能力仍然无可争议，为537亿美元。但是，这对ETH持有人几乎没有好处，因为在过去30天中，网络费用相对较低，为1900万美元。为了进行比较，Tron在同一时期积累了5180万美元的费用，Solana的收入为3,940万美元。

Noam Hurwitz, head of engineering at Alchemy, noted that Ethereum blob fees have dropped to their lowest possible level since the Pectra upgrade. For Hurwitz, Ether’s success depends on base layer scalability, including further improvements in the rollup mechanism, and ultimately, a more seamless user experience.

Alchemy工程主管Noam Hurwitz指出，自Pectra升级以来，以太坊斑点费用已下降到最低水平。对于Hurwitz而言，Ether的成功取决于基础层的可扩展性，包括进一步改进汇总机制，最终是更无缝的用户体验。

Bridging assets and data across Ethereum’s layer-2 ecosystem has long been a challenge, while users on Solana and BNB Chain can easily switch between multiple decentralized applications (DApps). The Pectra upgrade, while a step in the right direction, does not resolve this issue, which explains why ETH has been unable to reclaim the $2,200 level seen in early March.

长期以来，以太坊2层生态系统的桥接资产和数据一直是一个挑战，而Solana和BNB链的用户可以轻松地在多个分散的应用程序（DAPP）之间切换。 Pectra升级虽然朝着正确的方向迈出了一步，但并未解决此问题，这解释了为什么ETH无法收回3月初看到的2,200美元。

For Ether’s price to climb 22% from its current $1,810 level, investors likely need reassurance that the network’s progress, whether through deposits or layer-2 growth, translates into clear benefits. Ultimately, improved staking yields or stronger incentives are needed to drive broader adoption of DApps, which in turn would generate increased demand for ETH within the ecosystem.

为了使以太的价格从目前的1,810美元降低22％，投资者可能需要保证该网络的进步，无论是通过存款还是第二层增长，都可以转化为明显的收益。最终，需要提高积分产量或更强的激励措施来推动对DAPP的更广泛采用，这反过来又将在生态系统内增加对ETH的需求。