以太坊（ETH）价格下跌，因为机构倾倒了基础层

基础层上的用法正在下降，核心指标正在接近多年低点，甚至联合创始人Vitalik Buterin也提出了激进的建筑大修。

Institutions are dumping Ethereum (ETH) and pivoting to Solana (SOL), blockchain data shows, highlighting the shifting preferences of large investors in the evolving cryptocurrency landscape.

机构正在将以太坊（ETH）倾倒，并旋转到Solana（SOL），区块链数据显示，突出了不断发展的加密货币景观中大型投资者的转移偏好。

As the apex cryptocurrency faces growing pressure, with core metrics nearing multi-year lows and even co-founder Vitalik Buterin proposing a radical architectural overhaul, institutions are diversifying their portfolio away from ETH to explore emerging chains.

当Apex加密货币面临增长的压力时，核心指标接近多年低点，甚至联合创始人Vitalik Buterin提出了根本建筑的大修，机构正在将其投资组合从ETH中多样化，以探索探索新兴链。

Among the institutions trimming their Ether exposure is cryptocurrency investment firm Galaxy Digital.

加密货币投资公司Galaxy Digital在修剪醚暴露的机构中。

According to onchain analytics platform Lookonchain, Galaxy withdrew 65,600 ETH to Binance in recent days.

根据OnChain Analytics平台Lookonchain的数据，Galaxy最近几天撤回了65,600 ETH。

The investment firm’s Ether exposure peaked at around 98,000 coins in February, but that has dropped to almost 68,000 ETH at the time of writing, as per Arkham data.

根据Arkham Data，这家投资公司的以太曝光率达到了约98,000个硬币，但在撰写本文时，这已经下降到近68,000 enth。

While Galaxy’s holdings may have declined in recent weeks, they’re still higher compared to the start of the year. Its Ether holdings also reflect a broader trend seen in Ethereum-based investment products.

尽管Galaxy的持股量可能在最近几周有所下降，但与年初相比，它们仍然更高。其以太持有量还反映了基于以太坊的投资产品中更广泛的趋势。

According to digital asset management firm CoinShares, ETH funds saw $26.7 million in outflows over the past week, bringing total outflows to $772 million over eight weeks. However, year-to-date flows remain positive, with $215 million in net inflows.

根据数字资产管理公司Coinshares的数据，ETH基金在过去一周中的流出量达到2670万美元，在八周内，总流出量达到了7.72亿美元。但是，从年初流动仍然积极，净流入为2.15亿美元。

Among other institutions trimming their ETH holdings is Paradigm.

在修剪其ETH持有的机构中，是范式。

On April 21, Paradigm moved 5,500 ETH to Anchorage Digital, onchain data shows.

OnChain数据显示，4月21日，范式将5,500 ETH移至Anchorage Digital。

The investment firm had previously transferred around 97,000 ETH (around $301.57 million) to Anchorage from January 2024, which was then moved to centralized exchanges, as onchain analyst EmberCN noted.

正如OnChain分析师Embercn指出的那样，这家投资公司此前已将约97,000 ETH（约3.0157亿美元）转移到锚地，然后将其转移到集中式交易所。

“While institutional investors initially bought into the ‘ultra-sound money’ narrative, they’re now facing a reality where decreasing protocol revenue and weakening tokenomics create legitimate concerns,” Jayendra Jog, co-founder of Sei Labs, told Cointelegraph.

SEI Labs的联合创始人Jayendra Jog告诉CoIntelegraph：“尽管机构投资者最初购买了'Ultra Sound Money'的叙述，但他们现在面临着一个现实，即协议收入减少和削弱令牌组学引起了合法的关注。”

Buterin proposes RISC-V to substitute EVM

Buterin建议RISC-V代替EVM

On April 20, Buterin proposed the RISC-V instruction set to substitute the current Ethereum Virtual Machine contract language, aiming to improve the speed and efficiency of the network’s execution layer. Some view the proposal as a white flag on the existing architecture.

4月20日，布特林（Buterin）提出了RISC-V指令，以替代当前的以太坊虚拟机合同语言，旨在提高网络执行层的速度和效率。有些人将提案视为现有体系结构上的白旗。

“Vitalik’s RISC-V proposal is essentially an acknowledgment that the EVM’s fundamental architecture has reached its limits. When Ethereum’s founder proposes replacing the core VM that underpins the entire ecosystem, it signals not evolution but recognition of a design limitation that can’t be incrementally improved,” Jog added.

“ Vitalik的RISC-V提案实质上是确认EVM的基本架构已达到其限制。当以太坊的创始人提议取代基于整个生态系统的核心VM取代核心VM时，它就意味着它信号不是进化，而是识别无法逐步改进的设计限制，” Jog补充说。

The proposal follows a leadership shuffling in the Ethereum Foundation following rising complaints on the project’s initiative.

该提案是在对该项目倡议的投诉不断上升后，在以太坊基金会的领导下进行了改组。

"We're focused on delivering clear, short-term value in the form of scaling solutions and efficient layer-2 integration to amplify the impact of the ecosystem's collective efforts."

“我们专注于以缩放解决方案的形式和有效的第2层集成以扩大生态系统集体努力的影响。”

The Ethereum Foundation will shift its focus to near-term goals, such as layer-1 scaling and layer-2 scaling support, according to the new co-executive director of the Ethereum Foundation, Tomasz Stańczak.

以太坊基金会的新联合执行主任托马斯·斯坦切斯克（TomaszStańczak）表示，以太坊基金会将将其重点转移到近期目标，例如第1层缩放和2层缩放支持。

"We're focused on delivering clear, short-term value in the form of scaling solutions and efficient layer-2 integration to amplify the impact of the ecosystem's collective efforts," he stated on X.

他在X上说：“我们专注于以缩放解决方案的形式和有效的第2层集成以扩大生态系统的集体努力的影响。”

The shift in priorities comes amid growing concerns over the apex cryptocurrency's performance. Despite hopes that layer-2 networks would siphon off transactions and leave the base chain less congested, the opposite has occurred.

优先事项的转变是由于对顶点加密货币的性能的越来越关注。尽管希望第2层网络能够消除交易并使基本链减少交货，但情况恰恰相反。

Instead, layer-2 networks are continuing to siphon value from the base chain, leading to a drop in protocol revenue and unclaimed ether, which has snowballed into a broader decline in core metrics.

取而代之的是，第2层网络正在继续从基本链中虹吸价值，导致协议收入和无人认领的以太的下降，这已经滚雪球，核心指标的逐渐下降。

Moreover, the apex cryptocurrency is returning to a net inflationary state as a result of dropping network activity and a decrease in gas fees, which are used to burn ether and decrease the circulating supply.

此外，由于网络活动降低和气体费用减少，顶点加密货币正在恢复到通货膨胀状态，这些货物用于燃烧以太并减少循环供应。

According to data from IntoTheBlock, Ethereum collected 1,873.52 ETH in fees from April 14 to April 21. That's slightly higher than the 1,697.61 ETH in fees from the week starting on March 17, which was the lowest amount of fees collected (measured in ETH) since July 31, 2017.

根据Intotheblock的数据，以太坊从4月14日至4月21日收集了1,873.52 ETH的费用。这比3月17日开始的一周的费用略高于1,697.61 ETH，这是自2017年7月31日以来收取的最低费用（以ETH衡量的费用）。

The heating used to be measured in units of imperial heat, but now it's measured in units of metric heat. It's still the same heating, though. It's just the units that have changed. Similarly, the way we measure the burning of ether has changed, but the burning itself remains the same.

加热曾经以帝国热量为单位进行测量，但现在以公制的热量进行测量。不过，它仍然是相同的加热。只是单位改变了。同样，我们测量以太的燃烧的方式也发生了变化，但是燃烧本身保持不变。

March 13 saw the lowest amount of ether burned in a single week since August 2016. However, later that year, during the summer months, saw no burning at

3月13日，自2016年8月以来，一周内的一周内燃烧了最低的乙醚。但是，那年晚些时候，在夏季，没有燃烧