以太坊的統治動搖：穩定幣主導直線下降，價值相對於比特幣大幅下跌

以太坊在穩定幣領域的主導地位正在減弱，波場在交易量和交易數量上都超越了它。 「合併」之後，ETH/BTC 暴跌 45%，以太幣超越比特幣市值的「翻轉」夢想似乎越來越遙遠。

Ethereum's Stablecoin Dominance Wanes Amidst Bitcoin's Surge

隨著比特幣的飆升，以太坊的穩定幣主導地位逐漸減弱

Ethereum's grip on the stablecoin market is slipping, with Tron emerging as a formidable challenger. Tron now commands over 55% of stablecoin volumes and a staggering 89% of stablecoin transaction counts, leaving Ethereum's dominance in doubt.

以太坊對穩定幣市場的控制力正在下滑，波場正成為一個強大的挑戰者。 Tron 現在佔據了超過 55% 的穩定幣交易量和驚人的 89% 的穩定幣交易量，這讓以太坊的主導地位受到質疑。

Ethereum's Value Plummets Against Bitcoin, Raising Concerns About Its Future

以太坊的價值相對於比特幣暴跌，引發對其未來的擔憂

Ethereum's value against Bitcoin has hit its lowest point since February 2021, dropping to a mere 0.046. This significant decline follows the much-anticipated "Merge" in September 2022, marking a 45% plunge in ETH/BTC's value.

以太坊兌比特幣的價值已觸及 2021 年 2 月以來的最低點，跌至僅 0.046。這一大幅下跌是在 2022 年 9 月備受期待的「合併」之後發生的，標誌著 ETH/BTC 的價值暴跌 45%。

Rumors Swirl: Is the "Flippening" Dream Dead?

謠言四起：「翻轉」夢想破滅了嗎？

The market downturn and Ethereum's waning dominance have sparked speculation about the "Flippening," or the hypothetical scenario where Ethereum surpasses Bitcoin's market capitalization. However, this dream appears to be fading, with experts questioning whether Ethereum can regain its former glory.

市場低迷和以太坊主導地位的減弱引發了人們對「翻轉」的猜測，即以太坊市值超過比特幣的假設情景。然而，這個夢想似乎正在破滅，專家質疑以太坊能否重拾昔日的輝煌。

Mainnet Quiet, Critics Raise Concerns About Layer-2 Solutions

主網安靜，批評者對第 2 層解決方案表示擔憂

Ethereum's mainnet activity has dwindled, with transaction fees reaching multi-year lows. While some attribute this decline to the growth of Layer-2 (L-2) solutions, critics express doubts about L-2s' resilience under regulatory scrutiny, particularly regarding privacy services.

以太坊的主網活動已經減少，交易費用達到多年來的低點。雖然有些人將這種下降歸因於 Layer-2 (L-2) 解決方案的成長，但批評者對 L-2 在監管審查下的彈性表示懷疑，特別是在隱私服務方面。

Optimists Remain Bullish, Pin Hopes on Regulatory Advancements

樂觀主義者仍然看好，寄望於監管進步

Despite the market setbacks, some analysts remain optimistic about Ethereum's long-term potential. They argue that regulatory clarity and the approval of Ethereum-based exchange-traded funds (ETFs) could drive ETH prices higher, although short-term dips may occur in the event of unfavorable regulatory decisions.

儘管市場遭遇挫折，一些分析師仍對以太坊的長期潛力持樂觀態度。他們認為，監管的明確性和基於以太坊的交易所交易基金（ETF）的批准可能會推動 ETH 價格走高，儘管如果監管決策不利，可能會出現短期下跌。

Historical Trends Favor Ethereum, but SEC Verdict Looms

歷史趨勢有利於以太坊，但美國證券交易委員會的裁決迫在眉睫

Echoing the sentiments of industry experts, Joe Di Pasquale of BitBull Capital highlights historical patterns where Bitcoin tends to rise faster than altcoins after market crashes. However, ETH and other altcoins often catch up and outperform in subsequent years.

BitBull Capital 的 Joe Di Pasquale 呼應了行業專家的觀點，強調了市場崩潰後比特幣往往比山寨幣上漲更快的歷史模式。然而，以太坊和其他山寨幣在隨後的幾年裡往往會迎頭趕上並跑贏大盤。

Meanwhile, Ethereum's fate hangs in the balance as the market anxiously awaits the verdict of the Securities and Exchange Commission (SEC). The SEC's decision on how to classify Ethereum, whether as a security or a commodity, will have far-reaching implications for the broader crypto market. If the SEC deems Ethereum a security, it could face increased regulatory scrutiny and potentially hinder its growth.

同時，由於市場焦急地等待美國證券交易委員會（SEC）的裁決，以太坊的命運懸而未決。美國證券交易委員會關於如何對以太坊進行分類的決定，無論是作為證券還是商品，將對更廣泛的加密市場產生深遠的影響。如果美國證券交易委員會認為以太坊是一種證券，它可能會面臨更嚴格的監管審查，並可能阻礙其成長。

In conclusion, Ethereum's dominance in the stablecoin market is waning as Tron gains ground, while its value against Bitcoin has plummeted. Questions linger about the "Flippening" dream, and concerns about Layer-2 solutions persist. However, optimists remain hopeful, citing potential regulatory advancements and Ethereum's strong position in stablecoin issuance. The SEC's verdict on Ethereum's classification looms large, and its decision will significantly impact Ethereum's future and the crypto market as a whole.

總而言之，隨著 Tron 的崛起，以太坊在穩定幣市場的主導地位正在減弱，而其相對於比特幣的價值卻大幅下跌。關於「翻轉」夢想的疑問依然存在，對第 2 層解決方案的擔憂也持續存在。然而，樂觀主義者仍然充滿希望，理由是潛在的監管進步和以太坊在穩定幣發行方面的強勢地位。美國證券交易委員會對以太坊分類的裁決迫在眉睫，其決定將對以太坊的未來和整個加密市場產生重大影響。