以太坊的價格$ 1 762

以太坊ETH的價格$ 1 762 24H波動率：5.5％的市值：$ 212.86 b卷。 24H：$ 26.72 b

The price of Ethereum (ETH) has been struggling despite a recent broader market recovery. On-chain data from CryptoQuant shows weak network activity, a drop in transaction fees, and inflationary pressure from the Dencun upgrade put downward pressure on Ethereum, hindering its much-anticipated recovery.

儘管最近的市場回收率更廣泛，但以太坊（ETH）的價格一直在掙扎。來自加密素養的鏈上數據顯示網絡活動較弱，交易費用下降以及Dencun升級的通貨膨脹壓力對以太坊施加了向下壓力，從而阻礙了其備受期待的恢復。

According to CryptoQuant’s analysis, several reasons explain Ethereum’s prolonged market decline. One major factor is the ongoing decline in active addresses, a metric that has been falling since January 2025.

根據加密的分析，有幾個原因解釋了以太坊的長期市場下降。一個主要因素是主動地址的持續下降，這一指標自2025年1月以來一直在下降。

This decline in users leads to lower demand for the digital asset, slowing down overall network activity. Another concerning issue is Ethereum’s transaction fees, which have hit record lows. On-chain data reveals that the average fees per transaction and block have been at their weakest since the “Ethereum Merge.”

用戶的這種下降導致對數字資產的需求降低，從而減慢了整體網絡活動。關於問題的另一個問題是以太坊的交易費用，它已經達到了創紀錄的低點。鏈上數據表明，自“以太坊合併”以來，每筆交易和塊的平均費用一直處於最弱狀態。

Since Ethereum relies heavily on fees to power its burn mechanism, this decline has reduced the amount of ETH removed from circulation. Reports indicate that Ethereum’s inflation rate has increased with the burn rate at its lowest point since the Merge, adding more pressure to the price.

由於以太坊在很大程度上依靠費用來為其燃燒機制供電，因此這種下降減少了從循環中刪除的ETH量。報告表明，以太坊的通貨膨脹率隨著合併以來的最低點的燃燒率而增加，從而增加了價格的壓力。

Many experts believe that introducing the Dencun upgrade in 2024 was supposed to help the Ethereum ecosystem by making transactions cheaper, especially for layer-2 networks.

許多專家認為，在2024年引入Dencun升級應該通過使交易更便宜，特別是對於第2層網絡來幫助以太坊生態系統。

However, one of the recurring side effects of this update is the reduced burning of ETH. This has led to a higher supply of Ethereum than demand. This situation has worsened Ethereum’s inflationary outlook, contributing to the price downturn.

但是，此更新的反复副作用之一是燃燒的燃燒減少。這導致以太坊的供應量高於需求。這種情況加劇了以太坊的通貨膨脹前景，導致了價格下跌。

Another important factor affecting Ethereum’s price is the lack of excitement in the derivatives market. Ethereum Perpetual futures funding rates have stayed neutral since March 31, showing that traders are not betting on a significant price move.

影響以太坊價格的另一個重要因素是衍生品市場缺乏興奮。自3月31日以來，以太坊永久性期貨融資率一直保持中立，這表明交易者沒有押注重大的價格轉移。

Ethereum Ecosystem Updates

以太坊生態系統更新

Ethereum’s price has been down 44% year-to-date, and derivative metrics suggest that traders are not optimistic. Metrics show little confidence in a strong short-term recovery, as evident in the premium on Ether futures compared to spot markets.

以太坊的價格下跌了44％，衍生品指標表明交易者不樂觀。與現貨市場相比，指標對強勁的短期恢復幾乎沒有信心，這在以太期貨的溢價中很明顯。

Ethereum spot ETFs have recorded net outflows of $37 million in the past two weeks, suggesting that institutional interest has weakened. Unlike BTC spot ETFs, ETH has struggled to move investors to push more funds to the cryptocurrency network.

在過去的兩周中，以太坊現場ETF記錄了3,700萬美元的淨流出，這表明機構的利益削弱了。與BTC現場ETF不同，ETH努力將投資者推向加密貨幣網絡。

Ethereum Price Outlook and Analysis

以太坊價格前景和分析

Ethereum’s stablecoin holdings are close to an all-time high of $124.5 billion, with $49 billion in total value locked (TVL). This shows a strong potential for ETH adoption, especially as new use cases like structured products and advanced DeFi applications emerge.

Ethereum的Stablecoin持有量接近歷史最高的1,245億美元，總價值鎖定為490億美元（TVL）。這表明了ETH採用的強大潛力，尤其是隨著結構化產品和高級DEFI應用的新用例出現。

Meanwhile, Ethereum’s future price movement will depend on whether network activity picks up again. With low fees, a weak burn rate, and traders staying on the sidelines, ETH remains under pressure. However, sentiment in the crypto market can shift quickly.

同時，以太坊的未來價格變動將取決於網絡活動是否再次獲得。費用低，燃燒率較弱，而交易者則停留在場外，ETH仍處於壓力下。但是，加密貨幣市場中的情緒可能會迅速轉移。

Ethereum’s price could see a sharp rebound if investors regain confidence or if positive catalysts emerge. Until then, the market remains in a waiting mode.

如果投資者恢復信心或陽性催化劑的出現，以太坊的價格可能會看到急劇的反彈。在此之前，市場仍處於等待模式。

CoinMarketCap data shows Ethereum trading at $1,793.58, down by 4.19%. Despite this, it remains the second-largest cryptocurrency, with a 67.24% increase in trading volume over the last 24 hours.input: A judge in the U.S. state of Delaware has ruled that cryptocurrency exchange Binance can proceed with its bid to acquire bankrupt crypto hedge fund Three Arrows Capital (3AC) assets.

CoinMarketCap數據顯示，以太坊交易的價格為1,793.58美元，下降了4.19％。儘管如此，它仍然是第二大加密貨幣，在過去24小時內，交易量增加了67.24％。輸入：美國特拉華州的法官裁定，加密貨幣交換均值可以繼續以獲取其收購破產的加密貨幣對套政府的三大股票資本（3AC）Assets的競標。

The ruling comes after a group of 3AC creditors, including crypto derivatives exchange FTX, argued against the bid, claiming that it was below market value and would prefer to have the assets sold at auction.

該裁決是在包括加密衍生品交易所FTX在內的一組3AC債權人反對競標的人之後，聲稱其低於市場價值，並且希望在拍賣會上出售資產。

However, Judge Kevin Miscampell stated that while the creditors had the right to be paid in full, they did not have the right to dictate the terms of the sale. He also noted that 3AC assets had already decreased in value significantly and that a quick sale would be beneficial to all parties involved.

但是，凱文·米斯坎佩爾（Kevin Miscampell）法官表示，儘管債權人有權全額支付，但他們無權決定出售條款。他還指出，3AC資產的價值已經大大下降，快速銷售對所有有關方面都是有益的。

Moreover, the judge pointed out that FTX’s own claims against 3AC were still pending and that the exchange would benefit from a speedy resolution to the bankruptcy case.

此外，法官指出，FTX對3AC的主張仍在審理中，交易所將從對破產案件的快速解決方案中受益。

3AC, once a prominent crypto hedge fund, imploded in June 2022 due to massive losses on risky trades. The hedge fund’s collapse triggered a chain reaction of bankruptcies in the industry, including those of crypto lender Voyager Digital and hedge fund Amber Group.

3AC曾經是一個著名的加密對沖基金，由於風險交易的巨大損失，於2022年6月崩潰了。對沖基金的崩潰引發了該行業破產的連鎖反應，包括加密貸款人Voyager數字和對沖基金琥珀集團的鏈條反應。

According to court documents, 3AC owes about $3.1 billion to its creditors. Among the biggest creditors are FTX, which is now bankrupt and has claims of over $460 million, and crypto derivatives exchange BitMEX, which is owed around $270 million.

根據法院文件，3AC欠其債權人約31億美元。最大的債權人包括FTX，現在已經破產，索賠超過4.6億美元，而加密衍生品交易所Bitmex則欠了2.7億美元。

Creditors had proposed selling 3AC’s assets through an auction to maximize their value. However, Judge Miscampell ruled that an auction was not necessary and would only serve to increase the legal fees and delay the case further.

債權人提議通過拍賣來出售3AC的資產，以最大化其價值。但是，Miscampell法官裁定沒有必要進行拍賣，並且只會有助於增加法律費用並進一步延遲此案。

Instead, the judge approved Binance’s bid to acquire 3AC’s assets at a discounted price, taking into account

相反，法官批准了Binance以折扣價獲取3AC資產的出價