毫無疑問，最新的看跌加密價格對投資者余額產生了巨大影響。

毫無疑問，最新的看跌加密價格對投資者余額產生了巨大影響。

The latest bearish crypto prices have no doubt had a massive impact on investor balances.

毫無疑問，最新的看跌加密價格對投資者余額產生了巨大影響。

Heavy liquidations and losses have been the order of the day for investors going long.

對於投資者來說，沉重的清算和損失一直是一天的秩序。

Market analysts have been waiting to see whether Ethereum will bounce back especially as sentiment shows signs of improvement.

市場分析師一直在等待，以查看以太坊是否會反彈，尤其是當情緒顯示出改善的跡象時。

One particular incident may offer further insights especially in regards to the impact of the bears on the Ethereum DeFi ecosystem.

一個特殊的事件可能會提供進一步的見解，尤其是關於熊對以太坊偏移生態系統的影響。

On-chain Lens recently reported that a whale executed a 50X leveraged long position with 175,000 ETH worth roughly $335.4 million at press time.

On-Chain Lens最近報導說，一條鯨魚在發稿時執行了50倍利用的長位置，其175,000 ETH的身價約為3.354億美元。

The long position was reportedly executed on the HyperLiquid decentralized exchange.

據報導，長期職位是在超流動分散交易所執行的。

The report revealed that the whale closed the position, bagging a $2.15 million profit.

該報告顯示，鯨魚關閉了該職位，票價為215萬美元。

Could these whale trades be a sign that the market is ready to bounce back?

這些鯨魚交易是否可以表明市場準備反彈？

Is The Coast Clear for ETH Bulls, Will Further Downside Do More Damage?

Eth Bulls的海岸是否清晰，會進一步造成更多損害嗎？

The large whale trade comes just as whale activity had started to make a comeback.

大型鯨魚交易正是鯨魚活動開始捲土重來的。

Large holder netflows recorded a gain from -3,900 ETH on 9 March to 196,830 ETH as of 11 March.

截至3月11日，大型持有人Netfrows的收益從3月9日的-3,900 ETH到196,830 ETH。

A clear confirmation that whales were buying at sub $2,000 prices.

明確的確認鯨魚以低於2,000美元的價格購買。

However, the fact that the whale observed by HyperLiquid quickly got out of the position may indicate a focus on short term.

但是，超流體觀察到的鯨魚迅速脫離了位置，這一事實可能表明將重點放在短期上。

In other words, there is still uncertainty about ETH’s potential bounce back.

換句話說，ETH的潛在反彈仍然存在不確定性。

What happens if ETH continues declining? Past bearish events have highlighted risks in the DeFi ecosystem.

如果ETH繼續下降，會發生什麼？過去的看跌事件突出了Defi生態系統中的風險。

Extreme bearish conditions have historically led to heavy liquidity outflows.

極端的看跌條件在歷史上導致了大量流動性流出。

A potential negative impact of extended bearish conditions could be a mass unstaking event.

擴展的看跌條件的潛在負面影響可能是一個大規模的事件。

DeFi protocols could lose liquidity in such a situation and this could ultimately make it difficult for them to continue functioning effectively.

在這種情況下，Defi協議可能會失去流動性，這最終可能會使他們很難繼續有效運作。

Crypto Prices See Upward Trajectory

加密價格看到向上軌跡

Contrary to aforementioned fears, the Ethereum network continues to experience positive growth.

與上述恐懼相反，以太坊網絡繼續經歷積極的增長。

Especially in terms of total value locked which in terms of coin amount just peaked at 25.86 million coins.

特別是在總價值鎖定的方面，就硬幣金額而言，剛剛達到2586萬枚硬幣。

Note that the TVL in dollar value was down to $49.06 billion compared to over $83 billion at its peak in December.

請注意，美元價值的TVL降至490.6億美元，而12月的高峰期為830億美元。

This decline is largely due to the dip in ETH price action. Ethereum stablecoin marketcap also managed to clock in at $122.64 billion.

這種下降在很大程度上是由於ETH價格行動的下降。 Ethereum Stablecoin MarketCap也設法達到1.264億美元。

This means it managed to maintain close to its recent ATH high. Evidently, Bearish market conditions have not hurt network performance so far.

這意味著它設法保持了其最近的Ath高中。顯然，到目前為止，看跌市場狀況並未損害網絡性能。

In fact, their growth confirms that more ETH holders are locking up their coins after buying at discounted prices.

實際上，他們的增長證實，以折扣價購買後，更多的ETH持有人正在鎖定硬幣。

An outcome that also confirms a long term focus. Ethereum also maintained healthy network activity. Daily transactions held steady above $1.10 million transactions.

結果也證實了長期重點。以太坊還保持健康的網絡活動。每日交易穩定在110萬美元以上的交易中。

This is further confirmation that the Ethereum DeFi ecosystem is still enjoying robust utility especially with the trading activity associated with the recent dip.

這進一步證實，以太坊除生態系統仍在享受強大的效用，尤其是在與最近的浸入相關的交易活動中。