多头瞄准 3,700 美元，投机者纷纷涌向 ETH

与比特币和包括 Solana 在内的顶级山寨币一样，以太坊也保持稳定。截至撰写本文时，其交易价格高于本地支撑位 3,300 美元，并进一步走高，目标为 3,700 美元。

Ethereum (ETH) price shows strength on Monday, holding above the local support at $3,300 and targeting $3,700 as bulls remain strong.

以太坊 (ETH) 价格周一表现强劲，维持在 3,300 美元的本地支撑位上方，由于多头依然强劲，目标价为 3,700 美元。

The leg up comes as anticipation builds for the launch of spot Ethereum ETFs in the next few days. As seen on the daily chart, news of the U.S. Securities and Exchange Commission (SEC) fast-tracking the approval of 19b-4 forms sparked a wave of demand from May 20.

随着人们对未来几天推出现货以太坊 ETF 的预期不断增强，这一趋势也随之而来。从日线图上看，美国证券交易委员会（SEC）快速批准19b-4表格的消息从5月20日起引发了一波需求。

However, speculators are also entering the scene as prices remain steady and uptrend. According to CryptoQuant data, the estimated leverage ratio has risen in the past few trading days.

然而，随着价格保持稳定和上升趋势，投机者也开始介入。根据CryptoQuant数据，预计杠杆率在过去几个交易日有所上升。

This reading shows that the scene is receiving more leveraged traders who are keen on profiting from price volatility rather than benefiting from what ETH as a digital asset presents.

这一解读表明，这一场景正在迎来更多的杠杆交易者，他们热衷于从价格波动中获利，而不是从 ETH 作为数字资产中获益。

According to CryptoQuant, the estimated leverage ratio stood at 0.347 on July 16 before rising to 0.354 on July 17. The expansion suggests that traders are increasingly borrowing funds on perpetual trading platforms like Binance and OKX, hoping to make a killing if ETH bulls push prices above $3,700.

根据 CryptoQuant 的数据，7 月 16 日杠杆率预估为 0.347，7 月 17 日升至 0.354。这种扩张表明交易者越来越多地在币安和 OKX 等永续交易平台上借入资金，希望在 ETH 多头推高价格时大赚一笔超过 3,700 美元。

As prices rally, the estimated leverage ratio will likely climb even higher. The local top is at 0.358, as recorded on July 14. The all-time leverage ratio was at 0.392, registered in early July 2024.

随着价格上涨，预计杠杆率可能会进一步攀升。 7 月 14 日记录的局部最高点为 0.358。2024 年 7 月上旬记录的历史杠杆率为 0.392。

Eyes On Spot Ethereum ETFs: Will It Be A Success?

关注现货以太坊 ETF：会成功吗？

Meanwhile, ETH traders have their eyes set on the launch of spot Ethereum ETFs, which they believe will push prices up, even breaching all-time highs.

与此同时，以太坊交易者正关注以太坊 ETF 现货的推出，他们认为这将推高价格，甚至突破历史新高。

The latest reports indicate that the derivative product will launch early next week, enabling institutional investors to gain exposure. The U.S. SEC has approved three issuers to launch.

最新报道显示，该衍生产品将于下周初推出，使机构投资者能够获得投资。美国证券交易委员会已批准三个发行人发行。

However, it is expected that all spot Ethereum ETF applicants whose 19b-4 forms have been approved will be permitted to launch simultaneously.

不过，预计所有 19b-4 表格已获得批准的现货以太坊 ETF 申请人将被允许同时推出。

There is optimism that spot Ethereum ETFs will mirror the success of their spot Bitcoin ETFs. According to SosoValue, all spot Bitcoin ETF issuers collectively manage over $53 billion of BTC as of July 18.

人们乐观地认为，现货以太坊 ETF 将复制现货比特币 ETF 的成功。据 SosoValue 称，截至 7 月 18 日，所有现货比特币 ETF 发行人总共管理着超过 530 亿美元的比特币。

Despite the anticipation and expected positive impact on prices, the product will likely experience a different level of demand compared to when spot Bitcoin ETFs launched.

尽管对价格有预期和预期的积极影响，但与现货比特币 ETF 推出时相比，该产品的需求水平可能会有所不同。

Analysts attribute this to Ethereum’s lower market cap and the U.S. SEC’s decision not to allow spot ETF issuers to stake ETH. By staking, issuers would receive rewards on behalf of their clients.

分析师将此归因于以太坊市值较低以及美国证券交易委员会不允许现货 ETF 发行人持有 ETH 的决定。通过质押，发行人将代表其客户获得奖励。