山寨幣復興引發期貨繁榮，以太幣飆升

Has Ether Regained Its Footing Amidst Altcoin Revival?

以太幣在山寨幣復興中重新站穩腳步了嗎？

In a resurgence of interest, ether futures have soared to unprecedented heights, eclipsing $4.5 billion in daily volume for the first time since June 2019. This surge coincides with a remarkable 70% rally in ether's price, propelled by a renewed appetite for alternative cryptocurrencies.

隨著人們的興趣重新燃起，以太坊期貨飆升至前所未有的高度，日交易量自2019 年6 月以來首次突破45 億美元。這一飆升恰逢以太幣價格大幅上漲70%，因為人們對替代加密貨幣的興趣重新燃起。

The Altcoin Renaissance

山寨幣復興

After a prolonged period of dominance by bitcoin, the tide seems to have turned in favor of altcoins this year, with ether leading the charge. While bitcoin notched an impressive 90% gain in 2019, ether faltered, declining by 1%. However, the tables have turned, with ether doubling in value since January 1st, while bitcoin trails with a more modest 41% increase.

在比特幣長期佔據主導地位之後，今年的潮流似乎轉向了有利於山寨幣的方向，其中以太幣引領潮流。儘管比特幣在 2019 年取得了令人印象深刻的 90% 漲幅，但以太幣卻步履蹣跚，下跌了 1%。然而，情況發生了轉變，自 1 月 1 日以來，以太幣的價值翻了一番，而比特幣則以 41% 的溫和漲幅落後。

BitMEX, Huobi, and OKEx: The Power Trio

BitMEX、火幣和 OKEx：權力三重奏

Three exchanges – BitMEX, Huobi, and OKEx – have emerged as the primary drivers of this ether futures boom, collectively accounting for nearly 85% of Wednesday's record-breaking volume. BitMEX alone processed a staggering $1.3 billion in trades, its highest dollar volume since July 2019.

BitMEX、Huobi 和 OKEx 三個交易所已成為以太坊期貨繁榮的主要推動者，合計佔週三創紀錄交易量的近 85%。光是 BitMEX 就處理了驚人的 13 億美元交易量，這是自 2019 年 7 月以來的最高交易量。

Open Interest Hits All-Time High

未平倉合約創歷史新高

The ether rally is not merely a fleeting phenomenon. It is underpinned by a substantial rise in open interest, indicating a growing number of active futures contracts. As of Wednesday, aggregate open interest reached a record $750 million, a remarkable 130% surge from the $320 million mark on January 1st. This confluence of price and open interest growth suggests a sustained uptrend for ether.

以太幣的上漲不僅僅是一種短暫的現象。未平倉合約大幅增加支撐了這一趨勢，這表明活躍的期貨合約數量不斷增加。截至週三，未平倉合約總額達到創紀錄的 7.5 億美元，較 1 月 1 日的 3.2 億美元大關飆升 130%。價格和未平倉合約成長的結合顯示以太坊的持續上漲趨勢。

Ether Options: A Tale of Two Risk Perceptions

以太選擇權：兩種風險認知的故事

While ether futures have surged, options markets paint a more nuanced picture. Traders perceive greater risk in ether than in bitcoin over the coming months. This divergence suggests that investors are hedging their bets and opting for the relative stability of bitcoin amidst the current volatility in the altcoin market.

儘管以太坊期貨大幅上漲，但選擇權市場描繪了一幅更微妙的圖景。交易員認為未來幾個月以太幣的風險比比特幣更大。這種差異表明，在當前山寨幣市場的波動中，投資者正在對沖他們的賭注，並選擇相對穩定的比特幣。

Conclusion

結論

The resurgence of ether and altcoins marks a significant shift in the cryptocurrency landscape. As the market warms to alternative digital assets, ether has emerged as a leading force. With futures volumes and open interest at record highs, the rally seems poised to continue, supported by a renewed appetite for risk and the growing adoption of ethereum-based altcoins.

以太幣和山寨幣的復甦標誌著加密貨幣格局的重大轉變。隨著市場對另類數位資產的熱情升溫，以太幣已成為主導力量。隨著期貨交易量和未平倉合約創下歷史新高，在風險偏好重燃和基於以太坊的山寨幣的日益普及的支撐下，漲勢似乎將持續下去。