以太坊的公牛运行：2025年ETH的跌倒储量信号

以太坊一直处于区块链革命的最前沿，不仅提供加密货币。它是分散应用程序（DAPP），分散融资（DEFI）和智能合约协议的骨干。

Ethereum (ETH) reserves on spot exchanges have fallen to their lowest point in six years, according to data from Coinmetrics. As of Jan. 23, only 8.1 million ETH were available on these exchanges. This marks a significant drop from the high of 32.1 million ETH in early 2021.

根据Coinmetrics的数据，以太坊（ETH）的储备金（ETH）储备在六年来下降到了六年来的最低点。截至1月23日，在这些交流中只有810万个ETH。这标志着2021年初的3210万ETH的高度下降。

Reserves refer to the amount of cryptocurrency available on exchanges for immediate trading. Generally, a decrease in the amount of Ethereum on exchanges can signal a few things:

储备金是指立即交易的交易所可用的加密货币数量。通常，交流中的以太坊数量减少可以表明一些事情：

This observation aligns with the current scenario. Over the past year, there has been a clear trend of decreasing liquidity for Ethereum. And it’s not just individual investors who are withdrawing their assets — institutional investors are doing the same.

该观察结果与当前情况保持一致。在过去的一年中，以太坊流动性降低了一个明显的趋势。不仅是个人投资者正在撤回其资产，而且机构投资者也在这样做。

Historically, when cryptocurrency reserves drop, the market tends to become more bullish due to the lack of readily available supply. This can create upward pressure on the asset’s price. Here's why Ethereum’s reduced reserves may be a bullish signal:

从历史上看，当加密货币储备下降时，由于缺乏随时可用的供应，市场往往会变得更加看涨。这可能会对资产的价格产生向上的压力。这就是以太坊减少的储量可能是看涨信号的原因：

1. Reduced Selling Pressure

1。销售压力降低

As fewer coins are available for sale, there is less selling pressure in the market. This means that even small demand spikes can cause significant price increases, as there are fewer assets in circulation to meet the demand.

由于可供出售的硬币较少，因此市场上的销售压力较小。这意味着即使是小小的需求尖峰也会导致价格大幅上涨，因为流通量的资产较少以满足需求。

2. Increased Staking Participation

2。增加参与

The Ethereum 2.0 upgrade and the growing incentives to stake ETH are key factors contributing to the lower reserves. Investors may be holding their coins in staking pools to earn rewards, thus removing coins from the market temporarily. With staking rewards growing and a greater number of ETH stakers, the overall market supply diminishes.

以太坊2.0升级和越来越多的利用ETH的激励措施是导致较低储量的关键因素。投资者可能会将硬币持有放入池以赚取奖励，从而暂时将硬币从市场上删除。随着积分奖励的增长和更多的ETH Stakers，总体市场供应减少了。

3. Institutional Involvement

3。机构参与

Another factor at play is the increased institutional participation in the Ethereum ecosystem. These large investors may be securing their holdings off exchanges, anticipating longer-term price appreciation. Institutional interest has played a key role in Bitcoin’s rise and is beginning to have a similar effect on Ethereum.

另一个因素是，在以太坊生态系统中的机构参与增加。这些大型投资者可能会确保其持有的交流，预计长期价格赞赏。机构兴趣在比特币的崛起中发挥了关键作用，并且开始对以太坊产生类似的影响。

Ethereum has historically performed well in the early months of the year. February, in particular, has been one of the strongest months for Ethereum, with an average return of 17.13%. If Ethereum maintains its seasonal trends, a rally in the coming months is certainly a possibility. The confluence of low reserves, strong historical performance, and increasing institutional support makes Ethereum’s price rise seem plausible.

以太坊历史上的表现在今年初表现良好。尤其是2月，这是以太坊最强大的月份之一，平均回报率为17.13％。如果以太坊保持其季节性趋势，那么在接下来的几个月中的集会肯定是一种可能性。低储量，强大的历史表现和制度支持的汇合，使以太坊的价格上涨显得合理。

How Low Reserves Can Impact Ethereum’s Price

低储量会影响以太坊的价格

Low reserves have historically signaled impending bullish movements. If the demand for ETH increases while the supply on exchanges decreases, we could see a surge in prices. Market participants are often cautious when liquidity is low, which could result in more speculative buying as investors try to capitalize on potential upward price movement.

低储量在历史上表明了即将来临的看涨运动。如果对ETH的需求增加而交流的供应减少，我们可能会看到价格上涨。当流动性较低时，市场参与者通常会谨慎，这可能会导致更具投机性的购买，因为投资者试图利用潜在的上价变动。

While the news around Ethereum’s low reserves is largely bullish, the performance of ETH relative to Bitcoin has been a bit more mixed. Bitcoin’s dominance over the market is still undeniable, and the ETH/BTC pair has shown some weakness over the past few months. This divergence is notable because it indicates that investors may be prioritizing Bitcoin over Ethereum in the current market environment.

尽管有关以太坊低保护区的新闻在很大程度上是看涨的，但相对于比特币的ETH的表现却更加混乱。比特币在市场上的主导地位仍然不可否认，而ETH/BTC对在过去几个月中表现出一些弱点。这种分歧是值得注意的，因为它表明投资者在当前市场环境中可能优先考虑比特币而不是以太坊。

Here are some key factors that could be driving Ethereum’s weakness against Bitcoin:

这是一些可能推动以太坊对比特币的弱点的关键因素：

Ethereum’s role in the decentralized finance (DeFi) and decentralized applications (dApps) sectors cannot be overstated. The platform’s ability to host smart contracts has fueled the explosive growth of these industries. While the market has seen some turbulence in the past, especially with the rise of alternative layer-1 blockchains, Ethereum’s dominance in the DeFi sector remains strong.

以太坊在分散融资（DEFI）和分散应用程序（DAPP）部门中的作用不能被夸大。该平台托管智能合约的能力推动了这些行业的爆炸性增长。尽管过去市场有些动荡，尤其是随着替代1层区块链的兴起，以太坊在辩护部门的主导地位仍然很强。

However, the key issue for Ethereum moving forward will be its ability to scale effectively. If Ethereum is unable to handle the growing demand from DeFi protocols without high fees and network congestion, it risks losing more of its market share to competitors. On the other hand, if Ethereum successfully scales its infrastructure through Ethereum 2.0 and Layer 2 solutions, it could further solidify its position in the market and drive a massive bull run.

但是，以太坊前进的关键问题将是其有效扩展的能力。如果以太坊无法在没有高费用和网络拥塞的情况下处理Defi协议的不断增长的需求，那么它就有可能将其更多的市场份额失去给竞争对手。另一方面，如果以太坊通过以太坊2.0和第2层解决方案成功扩展其基础架构，则可以进一步巩固其在市场中的地位并推动大规模的公牛运行。

There are several key factors that will influence Ethereum’s future price trajectory:

有几个关键因素会影响以太坊的未来价格轨迹：