以太坊（ETH）價格下跌，因為機構傾倒了基礎層

基礎層上的用法正在下降，核心指標正在接近多年低點，甚至聯合創始人Vitalik Buterin也提出了激進的建築大修。

Institutions are dumping Ethereum (ETH) and pivoting to Solana (SOL), blockchain data shows, highlighting the shifting preferences of large investors in the evolving cryptocurrency landscape.

機構正在將以太坊（ETH）傾倒，並旋轉到Solana（SOL），區塊鏈數據顯示，突出了不斷發展的加密貨幣景觀中大型投資者的轉移偏好。

As the apex cryptocurrency faces growing pressure, with core metrics nearing multi-year lows and even co-founder Vitalik Buterin proposing a radical architectural overhaul, institutions are diversifying their portfolio away from ETH to explore emerging chains.

當Apex加密貨幣面臨增長的壓力時，核心指標接近多年低點，甚至聯合創始人Vitalik Buterin提出了根本建築的大修，機構正在將其投資組合從ETH中多樣化，以探索探索新興鏈。

Among the institutions trimming their Ether exposure is cryptocurrency investment firm Galaxy Digital.

加密貨幣投資公司Galaxy Digital在修剪醚暴露的機構中。

According to onchain analytics platform Lookonchain, Galaxy withdrew 65,600 ETH to Binance in recent days.

根據OnChain Analytics平台Lookonchain的數據，Galaxy最近幾天撤回了65,600 ETH。

The investment firm’s Ether exposure peaked at around 98,000 coins in February, but that has dropped to almost 68,000 ETH at the time of writing, as per Arkham data.

根據Arkham Data，這家投資公司的以太曝光率達到了約98,000個硬幣，但在撰寫本文時，這已經下降到近68,000 enth。

While Galaxy’s holdings may have declined in recent weeks, they’re still higher compared to the start of the year. Its Ether holdings also reflect a broader trend seen in Ethereum-based investment products.

儘管Galaxy的持股量可能在最近幾周有所下降，但與年初相比，它們仍然更高。其以太持有量還反映了基於以太坊的投資產品中更廣泛的趨勢。

According to digital asset management firm CoinShares, ETH funds saw $26.7 million in outflows over the past week, bringing total outflows to $772 million over eight weeks. However, year-to-date flows remain positive, with $215 million in net inflows.

根據數字資產管理公司Coinshares的數據，ETH基金在過去一周中的流出量達到2670萬美元，在八週內，總流出量達到了7.72億美元。但是，從年初流動仍然積極，淨流入為2.15億美元。

Among other institutions trimming their ETH holdings is Paradigm.

在修剪其ETH持有的機構中，是范式。

On April 21, Paradigm moved 5,500 ETH to Anchorage Digital, onchain data shows.

OnChain數據顯示，4月21日，範式將5,500 ETH移至Anchorage Digital。

The investment firm had previously transferred around 97,000 ETH (around $301.57 million) to Anchorage from January 2024, which was then moved to centralized exchanges, as onchain analyst EmberCN noted.

正如OnChain分析師Embercn指出的那樣，這家投資公司此前已將約97,000 ETH（約3.0157億美元）轉移到錨地，然後將其轉移到集中式交易所。

“While institutional investors initially bought into the ‘ultra-sound money’ narrative, they’re now facing a reality where decreasing protocol revenue and weakening tokenomics create legitimate concerns,” Jayendra Jog, co-founder of Sei Labs, told Cointelegraph.

SEI Labs的聯合創始人Jayendra Jog告訴CoIntelegraph：“儘管機構投資者最初購買了'Ultra Sound Money'的敘述，但他們現在面臨著一個現實，即協議收入減少和削弱令牌組學引起了合法的關注。”

Buterin proposes RISC-V to substitute EVM

Buterin建議RISC-V代替EVM

On April 20, Buterin proposed the RISC-V instruction set to substitute the current Ethereum Virtual Machine contract language, aiming to improve the speed and efficiency of the network’s execution layer. Some view the proposal as a white flag on the existing architecture.

4月20日，布特林（Buterin）提出了RISC-V指令，以替代當前的以太坊虛擬機合同語言，旨在提高網絡執行層的速度和效率。有些人將提案視為現有體系結構上的白旗。

“Vitalik’s RISC-V proposal is essentially an acknowledgment that the EVM’s fundamental architecture has reached its limits. When Ethereum’s founder proposes replacing the core VM that underpins the entire ecosystem, it signals not evolution but recognition of a design limitation that can’t be incrementally improved,” Jog added.

“ Vitalik的RISC-V提案實質上是確認EVM的基本架構已達到其限制。當以太坊的創始人提議取代基於整個生態系統的核心VM取代核心VM時，它就意味著它信號不是進化，而是識別無法逐步改進的設計限制，” Jog補充說。

The proposal follows a leadership shuffling in the Ethereum Foundation following rising complaints on the project’s initiative.

該提案是在對該項目倡議的投訴不斷上升後，在以太坊基金會的領導下進行了改組。

"We're focused on delivering clear, short-term value in the form of scaling solutions and efficient layer-2 integration to amplify the impact of the ecosystem's collective efforts."

“我們專注於以縮放解決方案的形式和有效的第2層集成以擴大生態系統集體努力的影響。”

The Ethereum Foundation will shift its focus to near-term goals, such as layer-1 scaling and layer-2 scaling support, according to the new co-executive director of the Ethereum Foundation, Tomasz Stańczak.

以太坊基金會的新聯合執行主任托馬斯·斯坦切斯克（TomaszStańczak）表示，以太坊基金會將將其重點轉移到近期目標，例如第1層縮放和2層縮放支持。

"We're focused on delivering clear, short-term value in the form of scaling solutions and efficient layer-2 integration to amplify the impact of the ecosystem's collective efforts," he stated on X.

他在X上說：“我們專注於以縮放解決方案的形式和有效的第2層集成以擴大生態系統的集體努力的影響。”

The shift in priorities comes amid growing concerns over the apex cryptocurrency's performance. Despite hopes that layer-2 networks would siphon off transactions and leave the base chain less congested, the opposite has occurred.

優先事項的轉變是由於對頂點加密貨幣的性能的越來越關注。儘管希望第2層網絡能夠消除交易並使基本鏈減少交貨，但情況恰恰相反。

Instead, layer-2 networks are continuing to siphon value from the base chain, leading to a drop in protocol revenue and unclaimed ether, which has snowballed into a broader decline in core metrics.

取而代之的是，第2層網絡正在繼續從基本鏈中虹吸價值，導致協議收入和無人認領的以太的下降，這已經滾雪球，核心指標的逐漸下降。

Moreover, the apex cryptocurrency is returning to a net inflationary state as a result of dropping network activity and a decrease in gas fees, which are used to burn ether and decrease the circulating supply.

此外，由於網絡活動降低和氣體費用減少，頂點加密貨幣正在恢復到通貨膨脹狀態，這些貨物用於燃燒以太並減少循環供應。

According to data from IntoTheBlock, Ethereum collected 1,873.52 ETH in fees from April 14 to April 21. That's slightly higher than the 1,697.61 ETH in fees from the week starting on March 17, which was the lowest amount of fees collected (measured in ETH) since July 31, 2017.

根據Intotheblock的數據，以太坊從4月14日至4月21日收集了1,873.52 ETH的費用。這比3月17日開始的一周的費用略高於1,697.61 ETH，這是自2017年7月31日以來收取的最低費用（以ETH衡量的費用）。

The heating used to be measured in units of imperial heat, but now it's measured in units of metric heat. It's still the same heating, though. It's just the units that have changed. Similarly, the way we measure the burning of ether has changed, but the burning itself remains the same.

加熱曾經以帝國熱量為單位進行測量，但現在以公制的熱量進行測量。不過，它仍然是相同的加熱。只是單位改變了。同樣，我們測量以太的燃燒的方式也發生了變化，但是燃燒本身保持不變。

March 13 saw the lowest amount of ether burned in a single week since August 2016. However, later that year, during the summer months, saw no burning at

3月13日，自2016年8月以來，一周內的一周內燃燒了最低的乙醚。但是，那年晚些時候，在夏季，沒有燃燒