交易所儲備減少、汽油費暴跌，預估以太坊牛市

隨著汽油費的下降，分析師觀察到主要交易所的以太坊儲備持續下降。人們認為，隨著投資者從交易所撤回 ETH，這種趨勢表明看漲情緒不斷增長，這可能表明鏈下活動或參與去中心化金融的增加。因此，ETH 多頭預計價格會上漲，因為交易所供應量的減少被視為累積和樂觀的跡象。

Ethereum Bull Market Anticipated as Exchange Reserves Dwindle and Gas Fees Plummet

隨著交易所儲備減少和汽油費暴跌，以太坊牛市有望到來

Amidst a recent market downturn, Ethereum (ETH) has witnessed a significant decline in its reserve holdings across leading cryptocurrency exchanges. This development has sparked optimism among ETH bulls, who anticipate a bullish rally in the token's price as a result.

在最近的市場低迷中，以太幣（ETH）在主要加密貨幣交易所的儲備持有量大幅下降。這項進展激發了 ETH 多頭的樂觀情緒，他們預計代幣價格將因此上漲。

Currently, ETH prices have been trending lower, losing over $900 from their all-time high. To regain momentum, ETH proponents believe that fundamental factors must support demand and reinvigorate deflated market sentiment. Among the key variables being monitored, the supply of ETH on exchanges remains a crucial indicator.

目前，ETH 價格一直呈下跌趨勢，較歷史高點下跌超過 900 美元。 ETH 支持者認為，為了重獲動力，基本面因素必須支持需求並重振低迷的市場情緒。在受到監控的關鍵變數中，交易所的 ETH 供應量仍然是關鍵指標。

According to on-chain analytics firm Glassnode, ETH's exchange supply has been falling at a faster pace compared to Bitcoin (BTC). This sharp decline, observed by analysts on popular cryptocurrency platforms, suggests that investors are shifting their capital into ETH, favoring it over the world's most valuable cryptocurrency. Consequently, ETH is expected to spearhead the next altcoin rally.

根據鏈上分析公司 Glassnode 的數據，與比特幣 (BTC) 相比，ETH 的交易供應量下降速度更快。分析師在流行的加密貨幣平台上觀察到的這種急劇下跌表明，投資者正在將資金轉向 ETH，而不是世界上最有價值的加密貨幣。因此，ETH 預計將引領下一次山寨幣上漲。

Historically, when a cryptocurrency's exchange reserves decrease, it often signifies increased bullish sentiment among holders. By withdrawing their assets from exchanges, individuals demonstrate a desire for long-term investment or engagement in off-chain activities such as staking or participating in decentralized finance (DeFi) protocols.

從歷史上看，當加密貨幣的外匯儲備減少時，通常意味著持有者的看漲情緒增加。透過從交易所提取資產，個人表現出了長期投資或參與鏈下活動的願望，例如質押或參與去中心化金融（DeFi）協議。

Furthermore, the diminishing ETH reserves on exchanges coincide with a cooling off in Ethereum's on-chain activity, as evidenced by the decline in gas fees. According to YCharts, gas fees payable for transactions and smart contract deployment have dropped significantly, from 41.2 GWei a year ago to the current 9.3 GWei.

此外，交易所上 ETH 儲備的減少與以太坊鏈上活動的降溫同時發生，汽油費的下降就證明了這一點。根據 YCharts 的數據，交易和智能合約部署應付的 Gas 費用大幅下降，從一年前的 41.2 GWei 下降到目前的 9.3 GWei。

Fluctuating gas fees are reflective of demand. When ETH prices surge, gas fees tend to increase, whereas they decline during price downturns. This pattern mirrors the overall market sentiment. The current low gas fees instill confidence among analysts, indicating that prices may have reached "local bottoms" and are poised for recovery.

波動的天然氣費用反映了需求。當 ETH 價格飆升時，gas 費用往往會增加，而在價格下跌時則會下降。這種模式反映了整體市場情緒。目前的低天然氣費用給分析師帶來了信心，表明價格可能已達到「局部底部」並有望回升。

Paradoxically, the drop in gas fees and falling exchange reserves occur amidst an increase in ETH supply. Ultrasound.money data reveals the issuance of 74,492 new ETH in the past 30 days, while only 56,823 ETH were burned, resulting in a net inflationary state for the network.

矛盾的是，汽油費的下降和外匯存底的下降卻發生在 ETH 供應量增加的情況下。 Ultrasound.money 數據顯示，過去 30 天內新發行了 74,492 個 ETH，而僅銷毀了 56,823 個 ETH，導致網路處於淨通膨狀態。

Despite the inflationary trend, the Ethereum network has destroyed over 4.2 million ETH since its transition to a proof-of-stake consensus mechanism during The Merge. ETH's annual inflation rate now stands at approximately 0.90%.

儘管存在通貨膨脹趨勢，但自從合併期間過渡到權益證明共識機制以來，以太坊網路已經銷毀了超過 420 萬枚 ETH。 ETH 的年通膨率目前約為 0.90%。

In conclusion, the declining ETH exchange reserves and falling gas fees have fueled bullish expectations among ETH proponents. While the network's supply continues to expand, the withdrawal of ETH from exchanges for off-chain activities and the positive sentiment surrounding low gas fees suggest a potential price rally in the near future. It remains to be seen whether these indicators will translate into sustained momentum for ETH, but the current market conditions present an optimistic outlook for the cryptocurrency.

總而言之，ETH 外匯存底的下降和 Gas 費的下降激發了 ETH 支持者的看漲預期。雖然網路的供應量持續擴大，但 ETH 從交易所撤出以進行鏈下活動，以及圍繞低 Gas 費的積極情緒表明，在不久的將來，價格可能會上漲。這些指標是否會轉化為 ETH 的持續動力還有待觀察，但當前的市場狀況為加密貨幣帶來了樂觀的前景。