在過去的一個月中，以太坊的價格一直保持著巨大的壓力，但積累活動卻激增。

鏈上的數據表明，即使Altcoin努力恢復向上勢頭，固定合同中的ETH鎖定量顯著增加。

Ethereum’s price has remained under significant pressure over the past month, yet staking activity has surged.

在過去的一個月中，以太坊的價格一直保持著巨大的壓力，但積累活動卻激增。

On-chain data shows a notable increase in the amount of ETH locked in staking contracts, even as the altcoin struggles to regain upward momentum.

鏈上的數據表明，即使Altcoin努力恢復向上勢頭，固定合同中的ETH鎖定量顯著增加。

ETH Staking Grows While ETF Outflows Hit $524 Million

ETH Staking增長，而ETF流出達到5.24億美元

Since plummeting to its year-to-date low on February 16, the amount of staked ETH has risen. With 33.98 million ETH currently locked in staking contracts, this figure has gone up by 1% over the past month.

自從2月16日下降到其年初低點以來，固定的ETH數量已上升。目前有3398萬ETH鎖定合同，這一數字在過去一個月中增長了1％。

This has happened despite the significant drop in ETH’s value in the past 30 days. Trading at $1,897 at press time, ETH’s price has plummeled by 30% since February 16.

儘管在過去30天中，ETH的價值顯著下降了，但這種情況還是發生了。自2月16日以來，ETH的交易價格為1,897美元，ETH的價格下降了30％。

The divergence suggests that many investors continue to see the coin as a long-term asset rather than a short-term trading opportunity. They demonstrate confidence in ETH’s future price performance by locking up their coins instead of selling amid recent headwinds.

分歧表明，許多投資者繼續將硬幣視為長期資產，而不是短期交易機會。他們通過鎖定硬幣，而不是在最近的逆風下出售，從而表現出對ETH未來價格業績的信心。

Moreover, this increased staked ETH could indicate growing institutional and retail interest in passive yield, even as short-term price action remains unimpressive.

此外，即使短期價格行動仍然沒有令人印象深刻，這種增加的固定性ETH可能表明機構和零售利益的增長。

However, this bullish stance contrasts with the recent decline in spot ETH exchange-traded fund (ETF) inflows, raising questions about broader market sentiment. Data from SosoValue shows that these funds have recorded outflows totaling $524.68 million in the past three weeks.

但是，這種看漲的立場與現貨ETH交換基金（ETF）的最近下降形成鮮明對比，從而引發了人們對更廣泛的市場情緒的疑問。 Sosovalue的數據表明，這些資金在過去三周中記錄了總計5.2468億美元的流出。

When ETH ETFs see net outflows like this, investors are withdrawing more funds than they are putting in. This indicates a bearish sentiment toward the coin and puts more downward pressure on its price.

當ETH ETF看到這樣的淨流出時，投資者撤回的資金比他們投入的更多資金。這表明對硬幣的看跌感情，並給其價格帶來了更大的下降壓力。

Ethereum’s Eyes Deeper Pullback—Or a Bullish Reversal?

以太坊的眼睛更深的回調，還是看漲的逆轉？

ETH trades at $1,897 at press time, breaking below the key support formed at $1,924. The negative readings from its Balance of Power (BoP) reflect the ongoing selling activity among ETH holders.

ETH在發稿時以1,897美元的價格交易，以低於1,924美元的鑰匙支持。電力平衡（BOP）的負面讀數反映了ETH持有人之間持續的銷售活動。

As of this writing, this indicator, which compares the strength of the bulls against the bears, is below zero at -0.27. When an asset’s BoP is negative, its sellers exert more control over price action, confirming the downward pressure on price.

在撰寫本文時，將公牛與熊的強度進行比較的指標低於-0.27。當資產的BOP負數時，其賣方對價格行動產生了更多控制權，從而確認了價格下降的壓力。

If this trend persists, ETH could continue its decline to trade at $1,758.

如果這種趨勢持續存在，ETH可能會繼續下降至1,758美元。

On the other hand, if sentiment flips and becomes fully bullish, it could drive ETH’s price above the $1,924 resistance and toward $2,224.

另一方面，如果情緒翻轉並完全看好，它可能會使ETH的價格高於1,924美元的抵抗力，而售價為2,224美元。