以太坊網絡經歷了一個顯著放緩的時期

以太坊網絡是分散網絡的基石，也是加密貨幣景觀中的關鍵播放器，目前正經歷著一個顯著放緩的時期。

The Ethereum network is currently experiencing a period of notable slowdown, with the daily amount of ETH burned falling to an all-time low. This signals a significant reduction in demand for Ethereum's blockspace.

以太坊網絡目前正經歷著一個顯著放緩的時期，每天的ETH燃燒量下降到歷史最低水平。這表明對以太坊塊空間的需求大大減少。

As reported by Ultrasound.money, only 53.07 ETH, valued at approximately $106,000, were burned on Wednesday. This minimal burn rate is in stark contrast to the highs of over 2,000 ETH burned daily during the last bull market.

正如Ultrasound.Money報導的，只有53.07 ETH，價值約為106,000美元，在周三被燒毀。這種最小的燃燒速率與上一個牛市每天燃燒的2,000多個ETH的高點形成鮮明對比。

Ethereum's EIP-1559 upgrade, implemented in August 2021, introduced a novel transaction fee mechanism. A portion of the ETH used to pay the base transaction fee, also known as the gas fee, is burned with every block. During periods of high network activity and transaction volumes, the base fee increases, leading to a higher ETH burn. However, when there is less activity, the base fee decreases, resulting in a diminished ETH burn.

以太坊的EIP-1559升級於2021年8月實施，引入了一種新穎的交易費用機制。每個塊用來支付基本交易費用（也稱為汽油費）的ETH的一部分。在高網絡活動和交易量的時期，基本費用增加，導致ETH燃燒更高。但是，當活動減少時，基本費用會減少，從而導致ETH燃燒減少。

This record-low daily ETH burn is a consequence of the decline in transaction fees and network demand. With less demand for Ethereum's blockspace, fewer transaction fees are being paid, ultimately reducing the amount of ETH being burned.

這種低的每日ETH燃燒是交易費用和網絡需求下降的結果。隨著對以太坊塊空間的需求減少，支付的交易費用較少，最終減少了被燒毀的ETH數量。

According to Ultrasound.money, the current burn rate suggests that the supply of ETH is projected to grow by 0.76% annually. This minimal deflationary effect is a direct result of the low network activity and demand.

根據Ultrasound.Money的說法，目前的燃燒率表明ETH的供應預計每年增長0.76％。這種最小的放流效應是網絡活動和需求低的直接結果。

The record-low ETH burn is also accompanied by a broader slowdown in on-chain activity, further indicating a decline in network utilization. For instance, the number of active Ethereum addresses has decreased to its lowest point since January 2021, as highlighted by Glassnode data.

記錄的低ETH燃燒還伴隨著鏈活動的更大放緩，進一步表明網絡利用率下降。例如，正如玻璃節數據所強調的那樣，活動以太坊地址的數量已減少到2021年1月以來的最低點。

Additionally, transaction counts and trading volumes on the Ethereum network have experienced a downturn, according to CCData, a digital assets data provider. These metrics collectively paint a picture of a network experiencing a period of reduced demand and activity. This slowdown could be attributed to various factors, such as market sentiment, regulatory uncertainty, and the increasing competition from Layer 2 scaling solutions.

此外，根據數字資產數據提供商CCDATA的說法，以太坊網絡上的交易計數和交易量經歷了下滑。這些指標集體描繪了一個網絡的圖片，這些網絡經歷了一段時間的需求和活動減少。這種放緩可能歸因於各種因素，例如市場情緒，監管不確定性以及第2層縮放解決方案的競爭日益增加。

The rapid growth and increasing dominance of Layer 2 scaling solutions, like Base, Arbitrum, and Optimism, are fundamentally reshaping the Ethereum ecosystem. These solutions offer faster transaction speeds, lower fees, and improved scalability compared to the Ethereum mainnet.

第2層縮放解決方案（如基礎，仲裁和樂觀）的快速增長和增加的優勢從根本上重塑了以太坊生態系統。與以太坊主網相比，這些解決方案提供更快的交易速度，較低的費用和提高的可伸縮性。

Layer 2s handle transaction processing off-chain and then batch transactions to the mainnet, reducing congestion and lowering gas fees. This increased efficiency has led to a migration of users and applications to Layer 2s, impacting the demand for Ethereum's mainnet blockspace.

第2層處理交易後處理，然後將交易批量交易到主網，減少擁塞並降低氣體費用。這種提高的效率導致用戶和應用程序遷移到第2層，從而影響了對以太坊的主網空間的需求。

The growth of Layer 2s, particularly Base, has prompted financial institutions like Standard Chartered to reassess their long-term price targets for ETH. Standard Chartered recently revised its 2025 price target for Ethereum from $10,000 to $4,000, citing the increasing dominance of Layer 2s.

第2層，尤其是基礎的增長，促使金融機構（例如Sandard Charter）被租用，以重新評估其長期目標的ETH目標。 Standard Chartered最近修訂了其2025年以太坊的目標目標從10,000美元到4,000美元，理由是第2層的優勢越來越高。

Geoffrey Kendrick, Standard Chartered's global head of digital assets research, highlighted the "super-profits" extracted by Layer 2s from the Ethereum ecosystem, indicating a shift in value accrual from the mainnet to these scaling solutions. This assertion is supported by data from Token Terminal, which shows that Base, a Layer 2 scaling solution developed by Coinbase, has already generated $954 million in revenue this year. In contrast, the entire Ethereum network has generated $1.1 billion in revenue so far in 2024.

標準憲章的全球數字資產研究負責人杰弗裡·肯德里克（Geoffrey Kendrick）強調了從以太坊生態系統中提取的“超級營能”，這表明價值應計於主網向這些擴展解決方案發生了變化。這一斷言得到了Token Terminal的數據支持，Token Terminal的數據表明，Coinbase開發的2層擴展解決方案的基礎已經產生了今年的收入9.54億美元。相比之下，到目前為止，整個以太坊網絡已在2024年產生了11億美元的收入。

This shift in value creation and the potential for an "unbalanced ecosystem" have led Standard Chartered to adjust its price target accordingly. As Layer 2s continue to grow and capture more market share, it remains to be seen how this will impact the valuation and price of ETH in the long term.

價值創造的這種轉變以及“不平衡生態系統”的潛力已導致憲章的標準相應地調整其目標目標。隨著第2層繼續增長並捕獲更多的市場份額，從長遠來看，這將如何影響ETH的估值和價格。

The confluence of low ETH burn rates, declining on-chain activity, and the rise of Layer 2s presents a multifaceted challenge for Ethereum. However, despite these difficulties, there are potential mitigating factors and future scenarios that could impact the network's trajectory.

低ETH燃燒率的匯合，鏈活動的下降和第2層的升高給以太坊帶來了多方面的挑戰。但是，儘管遇到了這些困難，但仍有潛在的減輕因素和未來情況會影響網絡的軌跡。

One crucial factor is the upcoming implementation of EIP-4844, an Ethereum improvement proposal designed to reduce gas fees and enhance the throughput of the network. This upgrade, set for early 2025, is expected to increase demand for mainnet blockspace, potentially leading to an increase in the ETH burn rate.

一個關鍵因素是即將實施EIP-4844，這是一項以太坊改進的建議，旨在減少汽油費和增強網絡的吞吐量。該升級定於2025年初，預計將增加對Mainnet Blockspace的需求，這可能會導致ETH燃燒率提高。

Moreover, the integration of the PoW chain, also known as ETC, via a CC0 license, could create new use cases for ETH and generate additional demand for the token. This integration, which is being spearheaded by ETC Cooperative members, aims to build a hybrid chain that combines the strengths of both PoW and PoS chains.

此外，通過CC0許可證，POW鏈的集成（也稱為ETC）可以為ETH創建新的用例，並為令牌產生額外的需求。這種集成由ETC合作成員帶頭，旨在建立一個結合POW和POS鏈的優勢的混合鏈。

Furthermore, the potential for increased institutional adoption of cryptocurrencies and, in particular, Ethereum could play a role in mitigating the impact of low ETH burns and spur demand for the token. As more financial institutions and corporations enter the cryptocurrency market, they might allocate a portion of their assets

此外，加密貨幣的機構採用尤其是以太坊的潛力可能在減輕低ETH燃燒的影響和刺激對令牌的需求方面發揮作用。隨著越來越多的金融機構和公司進入加密貨幣市場，他們可能會分配部分資產