儘管ETH價格下跌，以太坊網絡市值超過了豐田和白金

在持續交易所交易基金（ETF）流出時，Ether（ETH）在撰寫本文時以大約2,088美元的價格交易，下降了57％以上

Ether (ETH) is trading at around half its all-time high price, but the Ethereum network is still valued higher than some of the world’s most prominent companies.

Ether（ETH）的交易價格約為其歷史最高的一半，但以太坊網絡的價值仍然高於一些世界上最傑出的公司。

Ether (ETH) traded at roughly $2,088 at the time of writing amid continued exchange-traded fund (ETF) outflows, down over 57% from its all-time high of nearly $4,900 set in mid-November 2021, according to CoinMarketCap data.

根據CoinMarketCap數據，Ether（ETH）在撰寫本文時的交易約為2,088美元，在持續交易所交易基金（ETF）流出的情況下，比其歷史上的近4,900美元在2021年11月中旬的歷史高處下降了57％以上。

Despite this decline, Ethereum maintains a market capitalization of nearly $252 billion, surpassing global corporations such as Toyota with a market cap of $250 billion and the total market value of the precious metal platinum, which is $245 billion.

儘管有這種下降，以太坊仍保持近2520億美元的市值，超過了全球公司，例如豐田公司，市值為2500億美元，貴金屬白金的總市場價值為2450億美元。

Other notable companies currently worth less than the Ethereum network include IBM, McDonald’s, General Electric, Shell and Disney. If Ethereum were a company, it would be the fiftieth largest in the world, just behind Nestlé, which has a market capitalization of nearly $256 billion.

目前，其他值得注意的公司比以太坊網絡還少，包括IBM，麥當勞，通用電氣，殼牌和迪斯尼。如果以太坊是一家公司，那將是世界上第五十個最大的公司，距離雀巢之後，雀巢的市值近2560億美元。

Alex Obchakevich, founder of Obchakevich Research, told Cointelegraph that speculative interest significantly contributes to Ethereum’s valuation, as well as its “freedom from the financial framework of traditional finance.” He added:

Obchakevich Research的創始人Alex Obchakevich告訴Cointelegraph，投機性興趣顯著促進了以太坊的估值，以及“擺脫傳統金融財務框架的自由”。他補充說：

“It’s no secret that in the crypto sphere, a significant portion of the activity stems from speculation, especially in the case of a decentralized and open network like Ethereum, which is not subject to the same regulations and oversight as traditional financial institutions or companies.”

“在加密貨幣領域中，這項活動的很大一部分源於猜測，尤其是在以太坊（以太坊）（例如以太坊）的情況下，這不受與傳統金融機構或公司相同的法規和監督。”

However, Flavio Bianchi, a Polkadot ambassador and the chief marketing officer of the decentralized fundraising platform Polimec, told Cointelegraph that the comparison is less insightful than it might appear at first. He highlighted that “Ethereum isn’t a business” — it’s infrastructure.

但是，波爾卡多大使兼權力下放籌款平台Polimec的首席營銷官Flavio Bianchi告訴Cointelegraph，比較比起初可能不像它那樣洞悉。他強調說“以太坊不是業務”，而是基礎設施。

“It’s like comparing apples and oranges. Companies are valued based on their earnings, revenue and tangible assets, while a blockchain network is valued based on the total value of its native token, which is determined by market demand and supply, which in turn depends on the network activity and usage.”

“這就像比較蘋果和橘子。公司的收入，收入和有形資產的價值一樣，而區塊鍊網絡的估值是根據其本地令牌的總價值（由市場需求和供應決定的，這又取決於網絡活動和用途。”

Obchakevich also suggested Ethereum became more attractive after it transitioned to proof-of-stake (PoS), reinforcing “its value as a deflationary asset with growth potential in the digital economy.”

Obchakevich還建議以太坊在過渡到二手證明後變得更具吸引力（POS），從而增強了“其作為數字經濟中具有增長潛力的通縮資產的價值”。

Is Ethereum a deflationary asset?

以太坊是通縮資產嗎？

Recent data from Ultra Sound Money shows that Ethereum is now displaying inflation again, with an annual inflation rate of about 0.73% over the past 30 days.

Ultra Sound Money的最新數據表明，以太坊現在再次顯示通貨膨脹，在過去30天內的年通貨膨脹率約為0.73％。

The rate of inflation or deflation is largely dependent on the ETH fees burned by the network and the amount of newly issued Ether. The burning of fees on the network began with the implementation of EIP-1559 in 2021, which, paired with decreased issuance after the PoS transition, resulted in Ethereum being deflationary during sustained network activity.

通貨膨脹率或通貨膨脹率在很大程度上取決於網絡燒毀的ETH費用以及新發行的以太幣的數量。網絡上的費用燃燒始於2021年EIP-1559的實施，該公司在POS過渡後的發行下降，導致以太坊在持續的網絡活動期間縮放。

According to IntoTheBlock data, on March 23, daily fees on Ethereum fell to a little over $337,000, the lowest value reported since June 2020. YCharts also shows that on March 23, there was only 118.67 ETH worth of fees, the lowest value reported this year.

根據Intotheblock數據，3月23日，以太坊的每日費用降至337,000美元以上，這是自2020年6月以來報告的最低價值。YCHARTS還表明，3月23日，只有118.67的ETH價值118.67 ETH，這是今年報告的最低價值。

Over the past 24 hours, ETH’s value rose nearly 3.5%, increasing its market capitalization by about $9.3 billion, now totaling approximately $252.1 billion. For comparison, this figure exceeds Greece’s gross domestic product (GDP), currently around $243.5 billion.

在過去的24小時內，ETH的價值增長了近3.5％，其市值增加了約93億美元，目前總計約2521億美元。為了進行比較，該數字超過了希臘的國內生產總值（GDP），目前約為2435億美元。

Obchakevich highlighted that other than being worth more than Greece’s GDP, Ethereum’s market cap is also higher than the GDP of countries such as Slovenia and Croatia combined. And this is more than a curious factoid:

Obchakevich強調，除了比希臘的GDP價值高，以太坊的市值還高於斯洛文尼亞和克羅地亞等國家的GDP。這不僅僅是一個奇怪的事實：

“It speaks volumes about the potential and value that is being recognized in the decentralized space, in contrast to the traditional financial institutions and companies that are floundering despite having far greater resources at their disposal.”

“與傳統的金融機構和公司相比，儘管擁有更多資源可以使用，但在分散空間中所承認的潛力和價值表達了很多。”

Pradeep Singh, CEO of enterprise privacy and security infrastructure firm Gateway FM, told Cointelegraph that these numbers reflect “a fundamental shift in how we value digital infrastructure”:

企業隱私和安全基礎設施公司Gateway FM的首席執行官Pradeep Singh告訴Cointelegraph，這些數字反映了“我們對數字基礎架構的重視方式的基本轉變”：

“As we move towards a more decentralized web3 future, we're seeing that the lines between company valuation and network valuation are blurring. Ultimately, both are determined by market demand and the perceived value of the product or service being offered.”

“隨著我們朝著更加分散的Web3的未來發展，我們看到公司估值和網絡估值之間的界限都模糊了。最終，這兩者都取決於市場需求和所提供的產品或服務的可感知價值。”

The Ethereum protocol continues to evolve as developers introduce innovations such as native rollups, further expanding the blockchain’s capabilities and potential use cases.

隨著開發人員引入創新，例如本地匯總，進一步擴大區塊鏈的功能和潛在用例，以太坊協議繼續發展。