了解推动以太坊价格的因素

以太坊的价格再次升高，无论它会很快下降还是急剧上升，这是不可预测的。卢卡斯（Lucas）Outcalt。 2024年3月28日更新。

The price of Ethereum (ETH) has been trending upwards again recently. Will it dip soon, or could we see a steeper rise in the coming days?

以太坊（ETH）的价格最近再次上升。它会很快下降吗，还是我们会看到未来几天的急剧上升？

It’s no secret that bullish analysts have been predicting a breakout period for Ethereum this year, with some optimistic predictions placing the price as high as $10,000. However, others are still apprehensive about a possible "black swan" event that could quickly reverse the crypto market's bullish momentum.

看涨的分析师一直在预测今年以太坊的突破期并不是什么秘密，并且有一些乐观的预测使价格高达10,000美元。但是，其他人仍然对可能的“黑天鹅”事件感到担忧，该事件可能会迅速扭转加密货币市场的看涨势头。

Investors can make more informed trades by understanding the factors driving the price of Ethereum, including its technological upgrades, the dynamics at play within the market, and the macroeconomic pressures that have driven recent price volatility.

投资者可以通过了解推动以太坊价格的因素（包括其技术升级，市场上的动态以及驱动最近价格波动的宏观经济压力）来进行更明智的交易。

How Tech Upgrades Have Affected Ethereum Price

技术升级如何影响以太坊价格

Ethereum has seen swift growth since its launch in 2015. Its initial coin offering (ICO) was just thirty cents, and it hit $1,400 in the 2017 bull market. Today, the platform's native crypto coin, Ether (ETH), is the second most popular cryptocurrency in the world after Bitcoin (BTC). This has happened because Ethereum was explicitly developed to support decentralized finance apps and smart contracts, and demand for NFTs and other uses of smart contracts continues to increase.

自2015年推出以来，以太坊的增长迅速。其最初的硬币产品（ICO）仅为30美分，在2017年的牛市中达到了1,400美元。如今，该平台的本地加密硬币Ether（ETH）是仅次于比特币（BTC）的世界第二受欢迎的加密货币。之所以发生这种情况，是因为以太坊是明确开发的，以支持分散的金融应用程序和智能合约，并且对NFTS和其他智能合约用途的需求不断增加。

Ethereum has been able to capitalize on bullish investor sentiment because significant network upgrades have helped the blockchain keep up with demand. In September, the "Merge" (also dubbed "Ethereum 2.0") shifted the platform from a proof-of-work (PoW) to a proof-of-stake (PoS) model, bringing Ethereum faster transaction times with lower costs in computing power. Throughout 2024 and early 2025, Ethereum has also used a constellation of "Layer 2" technologies (such as the Cronos zkEVM chain) to reduce congestion and improve transaction speed by processing more transactions off-chain.

以太坊能够利用看涨的投资者情绪，因为重大的网络升级有助于区块链满足需求。 9月，“合并”（也称为“以太坊2.0”）将平台从工作证明（POW）转移到了商品证明（POS）模型，从而使以太坊更快地交易时间，计算能力成本较低。在整个2024年和2025年初，以太坊还使用了“第2层”技术（例如Cronos ZkeVM链）的星座来降低拥塞并通过处理更多交易链的交易速度来降低交易速度。

In 2025, Ethereum continues to pursue significant scaling upgrades, launching testnets in anticipation of its Pectra upgrade, which might reach Ethereum's main network this spring.

在2025年，以太坊继续进行大量扩展升级，以预期其Pectra升级，这可能会在今年春季到达以太坊的主要网络。

Ethereum's Market Dynamics: Staking Trends, Halving, and Whales

以太坊的市场动态：放入趋势，减半和鲸鱼

Ethereum secures its network with a consensus staking mechanism. Validators stake a quantity of Ether coin, which is then held as collateral and removed from circulation. Validators earn a percentage of the staked amount. Just over 29% of Ether coins are currently staked. Traders and investors need to follow this stake ratio. A higher ratio means less coin supply in the market, and that scarcity drives the price up.

以太坊通过共识的放电机制来确保其网络。验证者将一定数量的乙醚硬币持有，然后将其保存为抵押品并从循环中取出。验证者赚取了固定金额的百分比。目前，刚好有超过29％的以太硬币被放置。贸易商和投资者需要遵循此股份比率。较高的比率意味着市场上的硬币供应量较小，而稀缺性会推动价格上涨。

Halving, the process by which Ethereum constricts the rate at which it is issued, also increases the coin's scarcity. Since the merger, Ethereum has been in a "triple halving event," triple because the impact of halving on Ether's scarcity is triple the impact of Bitcoin's halving events.

减半，以太坊限制发行速度的过程也增加了硬币的稀缺性。自合并以来，以太坊一直处于“三重减半事件”中，因为对以太币的稀缺度减半的影响是比特币减半事件的影响三倍。

The other factor internal to the Ethereum blockchain is price manipulation. This happens most frequently in the form of a "pump and dump" scheme. In such a scheme, a blockchain "whale" will buy up a lot of the coin, "pumping" up the price quickly, motivating many smaller traders to follow suit in anticipation of a bull run. Then, the whale sells off their positions at that artificially high price, "dumping" the coin back onto the exchange. The whale walks away with the profits while the smaller traders take losses in a speedy price crash.

以太坊区块链内部的另一个因素是价格操纵。这最常以“泵和转储”方案的形式发生。在这样的计划中，一个区块链“鲸鱼”将收购很多硬币，“迅速向价格提高”，激励许多较小的商人在期待公牛的情况下效仿。然后，鲸鱼以人为的价格出售其头寸，将硬币“倾倒”回交换。鲸鱼以利润走开，而小型交易者在价格迅速崩溃中损失损失。

The Macroeconomic Pressures on Ethereum Price

以太坊价格的宏观经济压力

Inflation, weak fiat currencies, and regulatory policies also impact Ethereum. Like Bitcoin, Ethereum is frequently seen as a hedge against a weak dollar. When the dollar is down or inflation is rising, more investors will invest in major cryptocurrencies, driving the Ethereum price up, similar to how investors start buying gold.

通货膨胀，法定货币疲软和监管政策也影响以太坊。像比特币一样，以太坊经常被视为对美元微弱的树篱。当美元下跌或通货膨胀率上升时，更多的投资者将投资于主要的加密货币，推动以太坊价格上涨，类似于投资者开始购买黄金的方式。

National and state policies also affect bullish or bearish sentiment. Ethereum's recent approval to issue exchange-traded funds (ETFs) increased the purchase of the coin by individual traders and large institutions eager to stockpile private reserves.

国家和州政策也影响看涨或看跌的情绪。以太坊最近批准签发交易所交易基金（ETF）增加了个人商人和渴望储存私人储量的大型机构对硬币的购买。

Meanwhile, while enthusiasm for promises of a federal cryptocurrency reserve initially drove up the price late last year and early this year, delays in fulfilling those promises and the defeat of several proposals for crypto reserves at the state level have created more uncertainty among traders. Cryptocurrency prices are very sensitive to both the news cycle and social media sentiment, and word of setbacks and delays in the adoption of crypto reserves has contributed to the March decline in Ethereum's price.

同时，尽管对联邦加密储备储备的承诺的热情最初促使去年年底和今年年初提高了价格，但在履行这些诺言以及在州一级就加密储备金的几项提议的胜利延迟，造成了交易者的不确定性。加密货币价格对新闻周期和社交媒体情绪都非常敏感，并且采用加密储备的挫折和延误的言语有助于以太坊价格的三月下降。

Key Indicators to Watch for Ethereum's Future Price Movements

关注以太坊未来价格变动的关键指标

Today, the Ethereum price is slowly rising again. As this article was written, Ethereum had rebounded to $2063.64 from its recent low of $1,755.57 on March 10. What happens next is uncertain, but to make informed trades, traders should watch Ethereum's staking ratio,

如今，以太坊价格再次逐渐上涨。正如这篇文章的撰写，以太坊从3月10日的1,755.57美元的低点从3月10日的1,755.57美元的低点反弹至2063.64美元。接下来发生的事情是不确定的，但是要进行知情的交易，交易者应该观看以太坊的占有率，即陈旧比例，