以太坊的交换储量达到了历史最低水平，作为defi和Staking Lure持有者

以太坊的交换储量已减少到历史悠久的低点，仅897万ETH，这一数字让人联想到加密货币在2015年11月的新生日。

The latest report by Santiment, a cryptocurrency analytics firm, highlights a striking anomaly in Ethereum’s market behavior. Despite a massive exodus of 16.4% from exchange reserves in just seven weeks, which typically bodes well for price increases due to reduced sell-side pressure, the cryptocurrency's price has remained relatively stagnant.

加密货币分析公司Santiment的最新报告突出了以太坊市场行为的惊人异常。尽管在短短七个星期内从交换储备中获得了16.4％的大量出埃及记，这通常是由于卖方压力降低而造成的，但加密货币的价格仍然相对停滞。

This finding is especially interesting in the context of the last time Ethereum experienced such low exchange balances—back in November 2015 during its early days. At the time, a triple-bottom pattern at $0.70 formed, which led to a 4,000% price increase over the next year as the market woke up to the potential of smart contracts.

在以太坊上一次经历了如此低的交换余额的背景下，这一发现尤其有趣 - 2015年11月在其早期。当时，形成0.70美元的三底模式，随着市场醒来的潜力，明年的价格上涨了4,000％。

The current situation is unfolding differently, with Ethereum's price struggling to capitalize on the reduced supply and instead grappling with a 47% decline from its December peak. This divergence raises questions about what else might be impacting Ethereum's market dynamics.

当前情况的发展方式不同，以太坊的价格努力利用减少的供应，而努力从12月的山峰开始努力下降了47％。这种差异提出了有关其他可能影响以太坊市场动态的问题。

As we highlighted last week, the huge majority of the activity on CEX's is now being done on layer-2 chains, not the mainnet. This has massively reduced monthly mainnet usage and fee revenue, despite the recent "Dencun" upgrade aiming to lower gas. As such, it appears that while layer-2 activity is great for the ecosystem overall, it's hurting the economic model of the mainnet.

正如我们上周强调的那样，现在，CEX的大部分活动都在第2层链上而不是主网上进行。尽管最近有“ Dencun”升级旨在降低天然气，但这大大减少了每月的主网使用和费用收入。因此，尽管第2层活动对于整体生态系统来说非常有用，但它却损害了主网的经济模型。

The report also touches upon the pending approval of staking for Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Both the New York Stock Exchange and the Chicago Board Options Exchange have submitted requests to the SEC to permit staking in their respective applications for an Ethereum ETF.

该报告还涉及美国证券交易委员会（SEC）的以太坊交易所交易基金（ETF）的待办事项批准。纽约证券交易所和芝加哥董事会期权交易所都向SEC提交了请求，以允许在各自的以太坊ETF申请中出现。

The approval of staking for ETFs would open up a new avenue for institutional participation in Ethereum, potentially driving demand and bolstering its price. However, despite the pending approval of several institutions' applications for an Ethereum ETF, we're still not seeing a surge in interest. In fact, the opposite is happening.

批准ETF的股权将为机构参与以太坊的新途径开放，并有可能促进需求并加强其价格。但是，尽管有几个机构申请以太坊ETF的申请尚待批准，但我们仍然没有看到兴趣激增。实际上，情况正在发生。

Over the past month alone, we've seen $370 million in outflows from institutional Ethereum products. This lack of interest might be due to the SEC's constant delays in approving the applications, which has led to some institutions losing their appetite for investing in Ethereum.

仅在过去一个月中，我们就看到了3.7亿美元的机构以太坊产品的流出。这种缺乏兴趣可能是由于SEC批准申请的不断延迟，这导致一些机构失去了对以太坊投资的需求。

The approval of staking and the subsequent launch of an ETF would be a crucial turning point for Ethereum's price trends.

积分的批准和随后的ETF启动将是以太坊价格趋势的关键转折点。

"A decisive move above the $2,042 (fib 2.000) resistance could open the door for a rally towards the $2,820 (fib 2.618) or even $3,360 (fib 3.236) price levels. On the other hand, a clear breakdown below the $1,986 (fib 1.618) support could continue the correction towards the $1,714 (fib 1.414) level," the report concludes.

“超过2,042美元（FIB 2.000）阻力的决定性举动可以打开一场集会，直达2,820美元（FIB 2.618），甚至3,360美元（FIB 3.236）的价格水平（FIB 3.236）的价格水平。另一方面，在1,986美元的支持下，明显的崩溃可能会继续划分1,986美元（FIB 1.618）（FIB 1.618）（FIB 1.618）级别1.14（1.614）1.714（1,714（1,714）（1,714）'总结。