以太坊在一周内飙升了43.6％，达到2600美元

一周内以太坊飙升了43.6％，达到2600美元，回报率达到5,000美元

While the cryptocurrency market continues to be a subject of heated debate, with some focusing on Bitcoin’s price and others discussing the possibility of a return to 5,000 dollars for Ethereum, it’s crucial to consider the broader trends at play.

尽管加密货币市场仍然是激烈辩论的主题，但有些人则关注比特币的价格，而另一些则讨论了以太坊返回5,000美元的可能性，但考虑到更广泛的趋势至关重要。

Recently, there has been a surge in interest in Ethereum, especially as the price rose by 43.6 % over the course of one week, sparking discussion among traders and analysts. However, despite this rally, data from CoinShares and Bloomberg Intelligence reveals that institutional appetite for the cryptocurrency remains very limited.

最近，人们对以太坊的兴趣激增，尤其是在一周内的价格上涨了43.6％，引发了交易者和分析师之间的讨论。然而，尽管有这样的集会，但来自Coinshares和彭博情报的数据表明，对加密货币的机构胃口仍然非常有限。

As Adriano Feria, a crypto analyst, pointed out on May 12, 2025, on the social network X (formerly Twitter), Ethereum is "the best candidate for institutional diversification." This is because professional fund managers appreciate "similar levels of regulatory clarity and accessibility" through multiple spot Exchange-Traded Funds (ETFs) for both Bitcoin and Ethereum. However, recent data has not been particularly encouraging.

正如加密分析师Adriano Feria于2025年5月12日在社交网络X（以前称为Twitter）上指出的那样，以太坊是“机构多元化的最佳候选人”。这是因为专业基金经理通过对比特币和以太坊的多个现货交易所资金（ETF）欣赏“类似的监管清晰度和可访问性”。但是，最近的数据并不是特别令人鼓舞。

Indeed, between May 12 and 13, Ether ETFs listed in the United States recorded net outflows of $4 million, a figure sharply contrasting with the positive inflows seen in Bitcoin ETFs. These outflows suggest that institutional investors, despite showing interest in cryptocurrencies in general, might be pulling out of their positions in Ethereum at this stage.

实际上，在5月12日至13日之间，美国列出的Ether ETF记录了400万美元的净流出，这一数字与比特币ETF中的积极流入形成了鲜明的对比。这些流出表明，尽管总体上对加密货币表现出了兴趣，但在此阶段，机构投资者可能会退出以太坊的立场。

Moreover, the size of the Ether ETF market is still 92 % smaller than that of Bitcoin, which is currently valued at $121.5 billion. This disparity highlights a significant deficit in institutional interest in Ethereum at this stage, leading some players to express skepticism about its ability to truly capture large-scale capital.

此外，Ether ETF市场的规模仍然比比特币小92％，目前价值为1,215亿美元。这种差异凸显了现阶段对以太坊的机构利益的严重赤字，导致一些参与者对其真正占领大规模资本的能力表示怀疑。

However, several upcoming regulatory elements could reverse the trend. For instance, James Seyffart, an analyst at Bloomberg Intelligence, asserts that some progress in terms of approval for the first spot Bitcoin ETF is "highly likely before the end of the year." These measures could radically transform the attractiveness of ETH ETFs.

但是，即将到来的几个监管要素可以扭转趋势。例如，彭博情报局的分析师詹姆斯·塞伊法特（James Seyffart）断言，在对第一名比特币ETF的认可方面的某些进展“很可能在年底之前”。这些措施可以从根本上改变ETH ETF的吸引力。

If the U.S. Securities and Exchange Commission (SEC) approves an ETF on Bitcoin, the largest cryptocurrency by market capitalization, it could quickly mobilize significant institutional inflows towards the asset.

如果美国证券交易委员会（SEC）批准了按市值最大的加密货币比特币的ETF，它可以迅速动员资产的大量机构流入。

In this context, Ethereum could, in the absence of strong immediate appetite, impose itself by elimination, especially if the SEC refuses to approve ETFs on other altcoins. The lack of direct competition on the institutional field could thus become an unexpected strategic advantage for ETH.

在这种情况下，在没有强烈的直接食欲的情况下，以太坊可能会因消除而强加自己，尤其是如果SEC拒绝批准其他Altfoins的ETF。因此，在机构领域缺乏直接竞争可能会成为ETH的意外战略优势。

But capital movements and regulatory bets aren’t the only factors to consider. Major technical developments are also crucial for understanding Ethereum’s potential return to its peaks.

但是，资本运动和监管投注并不是唯一要考虑的因素。主要的技术发展对于理解以太坊的潜在回报到其高峰也至关重要。

The Pectra upgrade brought a clear improvement in data transmission within the network, boosting activity on Layer 2 solutions. According to L2Beat data, activity on these networks grew by 23% in one month, notably driven by Base, which recorded 244.2 million transactions over 30 days.

Pectra升级在网络内的数据传输方面有了明显的改善，从而增强了第2层解决方案的活动。根据L2BEAT数据，这些网络的活动在一个月内增长了23％，特别是由基本驱动，该活动在30天内记录了2.442亿美元的交易。

However, despite this ramp-up, the report by blockchain analytics firm Glassnode indicates that Ethereum’s deflationary momentum remains stalled.

然而，尽管加剧了这种加剧，区块链分析公司玻璃节的报告表明，以太坊的放流动量仍然停滞不前。

The priority given to scalability via rollups has reduced onchain congestion, limiting burn volumes and calling into question the return to a structurally deflationary ETH in the short term.

通过汇总给出的可伸缩性的优先级减少了链拥塞，限制了燃烧量，并质疑短期内恢复到结构放气的ETH。

Another potential driver of this rise rests on the growing integration of artificial intelligence into the Ethereum ecosystem. Indeed, Eric Conner, a historic Ethereum advocate, mentioned on platform X on May 13 an already observable use case.

这种崛起的另一个潜在驱动力取决于人工智能在以太坊生态系统中的不断增长。确实，历史悠久的以太坊倡导者埃里克·康纳（Eric Conner）在5月13日在X平台上提到的一个已经可以观察到的用例。

ChatGPT prefers Ethereum’s Layer-2 infrastructure to manage funds via multisignature contracts.

Chatgpt更喜欢以太坊的第2层基础架构通过多签名合同来管理资金。

This approach would allow autonomous agents to execute payments, rebalance portfolios, or automatically invest in the DeFi. Such automation could multiply smart contract activity on Ethereum to the point of “growing tenfold from its current level”.

这种方法将允许自主代理执行付款，重新平衡投资组合或自动投资于DEFI。这种自动化可以将以太坊上的智能合同活动乘以“从目前的水平增长十倍”。

Although the actual extent of this adoption is still difficult to predict, the potential of such use, combined with the existing infrastructure, constitutes a strong argument in favor of a return to the top.

尽管这种采用的实际范围仍然很难预测，但这种使用的潜力与现有的基础设施相结合，构成了一个强有力的论点，支持返回顶部。