以太坊（ETH）的链链行为发生了明显的转变

在过去的两个月中，以太坊（ETH）的链链行为发生了明显的转变。

The cryptocurrency market is in a state of flux, with Bitcoin and Ethereum remaining the dominant players despite recent price movements. As the dust settles on May 3, the attention of investors is turning toward the next stage of this journey.

加密货币市场处于通量状态，尽管价格变动了，但比特币和以太坊仍然是主要参与者。随着5月3日的尘埃落定，投资者的注意力正在转向这一旅程的下一阶段。

Key Takeaways:

关键要点：

* Long-term Ethereum (ETH) holders have been steadily increasing their positions despite the recent weakness in price, adding 22.54% more to their holdings over the past two months.

*长期以太坊（ETH）持有人尽管最近的价格疲软，但仍在稳步提高自己的地位，在过去两个月中，其持股增加了22.54％。

* The average entry price of many of these wallets was at $2,026, and at the beginning of March, the realized price of ETH was $1,866.70.

*许多这些钱包的平均入境价格为2,026美元，而3月初，ETH的实现价格为1,866.70美元。

* As of May 3, the price reached $1,980, suggesting that these wallets are continuing to accumulate at a lower cost basis.

*截至5月3日，价格达到1,980美元，表明这些钱包继续以较低的成本累积。

ETH Accumulation Unfazed by Price Correction

ETH积累不受价格更正的影响

The price of Ethereum has been coming under pressure since it hit a peak of $4,107 in December 2024. Since then, ETH has trended downward month after month with the correction that followed. However, the rise in holdings from long-term addresses signals that they are not acting based on short-term price action.

自2024年12月达到高峰4,107美元以来，以太坊的价格一直处于压力下。从那以后，ETH随后的更正逐月下一个月下降。但是，长期地址的持股量增加表明他们没有根据短期价格行动行事。

These coins are used in these wallets and are kept by them for more than 155 days. They have consistently behaved: added more ETH, and they have not sold.

这些硬币用于这些钱包，并由它们保存超过155天。他们一直表现出来：添加了更多的ETH，并且还没有出售。

“Behavior reflects structural conviction & clear expectations of short-term appreciation,” said @oro_crypto, referencing the data tracked in CryptoQuant’s accumulation metrics.

@oro_crypto说：“行为反映了结构上的定罪和对短期欣赏的明确期望。”

Ethereum Price Remains in Tight Range

以太坊价格保持紧密

As of 08:38 ET (12:38 GMT), Ethereum was trading in a narrow zone between $1,783 and $1,831. The Bollinger Bands were tightening, and the price was hovering just below a resistance level at $1,941. The 20-day moving average, sitting at $1,739, continued to provide support.

从美国东部时间08:38（格林尼治标准时间12:38）开始，以太坊在狭窄的区域之间的交易在1,783美元至1,831美元之间。布林乐队正在收紧，价格徘徊在阻力水平下，为1,941美元。 20天的移动平均值为1,739美元，继续提供支持。

Market momentum remained neutral. The RSI was at 54.63, just under its trend line of 55.50 at press time. These numbers showed that ETH was neither overbought nor oversold. At the same time, volume has grown since mid-April, meaning that larger moves are on the way as attention increases.

市场势头保持中立。 RSI为54.63，在发稿时仅在55.50的趋势线上。这些数字表明，ETH既不是超买也不超卖的。同时，自4月中旬以来的体积已经增长，这意味着随着注意力的增加，较大的动作正在途中。

Derivatives Activity Picks Up

衍生品活动会增加

Derivatives activity around Ethereum also picked up. Total trading volume rose 26.51% to $46.3 billion, while open interest saw a smaller rise of 1.13%, now at $21.9 billion. In the options market, volume jumped nearly 75% to $357.69 million, showing that traders are preparing for price volatility.

以太坊周围的衍生品活动也得到了拾取。总交易量增长了26.51％，达到463亿美元，而开放利息的上升幅度较小1.13％，现在为219亿美元。在期权市场中，数量跃升了近75％，至3.5769亿美元，这表明交易者正在准备价格波动。

Shorts were outnumbered by long positions on major exchanges. When writing, the long-to-short ratio on Binance was 2.24, and on OKX, it was 2.04.

短裤在主要交易所上的长位置超过了。写作时，二元性的长距离比率为2.24，OKX上的比例为2.04。

Additionally, the ratio was higher among Binance’s top trader accounts at 2.76. This implied that most traders were still betting on what could happen, that of a rise as opposed to a decline.

此外，在Binance的顶级交易者帐户中，该比率为2.76。这意味着大多数交易者仍在押注可能发生的事情，而不是下降的情况。

Liquidations over the last 24 hours amounted to $40.67 million, with $8.10 million off that as a short position. Though long liquidations were higher in general, losing short liquidations in multiple time frames suggested upward pressure.

过去24小时的清算为4067万美元，折价为810万美元，这是一个较短的职位。尽管一般的清算较长，但在多个时间范围内丢失了短暂的清算，建议向上压力。

Chart watchers have noticed a tightening pattern in price action. According to analyst called Thecryptomist, Ethereum was forming an ascending triangle, and price movement inside a smaller wedge could soon trigger a breakout.

图表观察者注意到价格动作的收紧方式。据分析师称，以太坊正在形成一个上升的三角形，而较小的楔子内的价格转移很快就会引发突破。

“$1950 remains programmed next,” Thecryptomist noted, identifying it as a key level to watch.

TheCyptomist指出，“接下来是1950美元的编程，”将其确定为要观看的关键水平。

Attention Turns to Ethereum Upgrade

注意转向以太坊升级

The Ethereum network is set for an upgrade on May 7 called Pectra. There is one notable change, and it is that the validator staking limit is going to be raised from 32 ETH to 2,048 ETH. In addition, it will increase the number of data blobs per block, which may improve throughput and efficiency.

以太坊网络将于5月7日升级为Pectra。有一个显着的变化，这是验证者的放电限制将从32 ETH提高到2,048 ETH。此外，它将增加每个块数据斑点的数量，这可能会提高吞吐量和效率。

There is building investor attention ahead of the upgrade. “Buying $ETH now is like buying BTC at $4,000,” said analyst @TedPillows, who pointed to Ethereum’s growing use in real-world asset tokenization and its rising institutional interest.

升级前有建筑投资者的关注。分析师@tedpillows说：“现在购买$ ETH就像以4,000美元的价格购买BTC。

Consequently, the increase in long-term accumulation, derivatives activity, and upcoming protocol changes all suggest that Ethereum is approaching a crucial period.

因此，长期积累，衍生品活性和即将到来的方案的增加都表明以太坊正接近关键时期。