毫无疑问，最新的看跌加密价格对投资者余额产生了巨大影响。

毫无疑问，最新的看跌加密价格对投资者余额产生了巨大影响。

The latest bearish crypto prices have no doubt had a massive impact on investor balances.

毫无疑问，最新的看跌加密价格对投资者余额产生了巨大影响。

Heavy liquidations and losses have been the order of the day for investors going long.

对于投资者来说，沉重的清算和损失一直是一天的秩序。

Market analysts have been waiting to see whether Ethereum will bounce back especially as sentiment shows signs of improvement.

市场分析师一直在等待，以查看以太坊是否会反弹，尤其是当情绪显示出改善的迹象时。

One particular incident may offer further insights especially in regards to the impact of the bears on the Ethereum DeFi ecosystem.

一个特殊的事件可能会提供进一步的见解，尤其是关于熊对以太坊偏移生态系统的影响。

On-chain Lens recently reported that a whale executed a 50X leveraged long position with 175,000 ETH worth roughly $335.4 million at press time.

On-Chain Lens最近报道说，一条鲸鱼在发稿时执行了50倍利用的长位置，其175,000 ETH的身价约为3.354亿美元。

The long position was reportedly executed on the HyperLiquid decentralized exchange.

据报道，长期职位是在超流动分散交易所执行的。

The report revealed that the whale closed the position, bagging a $2.15 million profit.

该报告显示，鲸鱼关闭了该职位，票价为215万美元。

Could these whale trades be a sign that the market is ready to bounce back?

这些鲸鱼交易是否可以表明市场准备反弹？

Is The Coast Clear for ETH Bulls, Will Further Downside Do More Damage?

Eth Bulls的海岸是否清晰，会进一步造成更多损害吗？

The large whale trade comes just as whale activity had started to make a comeback.

大型鲸鱼交易正是鲸鱼活动开始卷土重来的。

Large holder netflows recorded a gain from -3,900 ETH on 9 March to 196,830 ETH as of 11 March.

截至3月11日，大型持有人Netfrows的收益从3月9日的-3,900 ETH到196,830 ETH。

A clear confirmation that whales were buying at sub $2,000 prices.

明确的确认鲸鱼以低于2,000美元的价格购买。

However, the fact that the whale observed by HyperLiquid quickly got out of the position may indicate a focus on short term.

但是，超流体观察到的鲸鱼迅速脱离了位置，这一事实可能表明将重点放在短期上。

In other words, there is still uncertainty about ETH’s potential bounce back.

换句话说，ETH的潜在反弹仍然存在不确定性。

What happens if ETH continues declining? Past bearish events have highlighted risks in the DeFi ecosystem.

如果ETH继续下降，会发生什么？过去的看跌事件突出了Defi生态系统中的风险。

Extreme bearish conditions have historically led to heavy liquidity outflows.

极端的看跌条件在历史上导致了大量流动性流出。

A potential negative impact of extended bearish conditions could be a mass unstaking event.

扩展的看跌条件的潜在负面影响可能是一个大规模的事件。

DeFi protocols could lose liquidity in such a situation and this could ultimately make it difficult for them to continue functioning effectively.

在这种情况下，Defi协议可能会失去流动性，这最终可能会使他们很难继续有效运作。

Crypto Prices See Upward Trajectory

加密价格看到向上轨迹

Contrary to aforementioned fears, the Ethereum network continues to experience positive growth.

与上述恐惧相反，以太坊网络继续经历积极的增长。

Especially in terms of total value locked which in terms of coin amount just peaked at 25.86 million coins.

特别是在总价值锁定的方面，就硬币金额而言，刚刚达到2586万枚硬币。

Note that the TVL in dollar value was down to $49.06 billion compared to over $83 billion at its peak in December.

请注意，美元价值的TVL降至490.6亿美元，而12月的高峰期为830亿美元。

This decline is largely due to the dip in ETH price action. Ethereum stablecoin marketcap also managed to clock in at $122.64 billion.

这种下降在很大程度上是由于ETH价格行动的下降。 Ethereum Stablecoin MarketCap也设法达到1.264亿美元。

This means it managed to maintain close to its recent ATH high. Evidently, Bearish market conditions have not hurt network performance so far.

这意味着它设法保持了其最近的Ath高中。显然，到目前为止，看跌市场状况并未损害网络性能。

In fact, their growth confirms that more ETH holders are locking up their coins after buying at discounted prices.

实际上，他们的增长证实，以折扣价购买后，更多的ETH持有人正在锁定硬币。

An outcome that also confirms a long term focus. Ethereum also maintained healthy network activity. Daily transactions held steady above $1.10 million transactions.

结果也证实了长期重点。以太坊还保持健康的网络活动。每日交易稳定在110万美元以上的交易中。

This is further confirmation that the Ethereum DeFi ecosystem is still enjoying robust utility especially with the trading activity associated with the recent dip.

这进一步证实，以太坊除生态系统仍在享受强大的效用，尤其是在与最近的浸入相关的交易活动中。