以太坊价格展望：网络增长担忧中的看涨情绪

尽管最近出现波动，但 Coinglass 的数据显示，以太坊（ETH）投资者仍然看涨，开设了该代币的多头头寸。这种积极情绪得到了以太坊 MVRV 比率下降的支撑，这表明许多持有者尚未获利，这可能为价格下跌提供缓冲。然而，网络增长下降和以太坊费用较低表明以太坊价格可能会进一步下跌，尽管流通速度的增加表明流动性持续存在和潜在的价格飙升。截至目前，ETH 交易价格约为 3,200 美元，在过去 24 小时内上涨。

Ethereum Price Outlook: Bullish Sentiment Amidst Network Growth Concerns

以太坊价格展望：网络增长担忧中的看涨情绪

The cryptocurrency market has been grappling with elevated volatility in recent weeks, with Ethereum (ETH), the second-largest crypto asset by market capitalization, being no exception. This volatility has rendered it challenging to discern Ethereum's trajectory with precision. However, specific metrics offer valuable insights into the potential path of ETH's price once this volatility subsides.

最近几周，加密货币市场一直在应对波动性加剧的问题，市值第二大加密资产以太坊（ETH）也不例外。这种波动性使得精确辨别以太坊的轨迹变得具有挑战性。然而，一旦这种波动性消退，具体的指标可以为 ETH 价格的潜在走势提供有价值的见解。

Bullish Investor Sentiment

看涨投资者情绪

Data collated by Coinglass reveals that a significant proportion of Ethereum investors and traders maintain a bullish outlook on the asset despite the recent price fluctuations. Notably, a majority of these traders have persisted in opening long positions on Ethereum, indicating a belief in substantial upward price movements over the long term.

Coinglass 整理的数据显示，尽管近期价格波动，但相当一部分以太坊投资者和交易者仍对该资产保持看涨前景。值得注意的是，这些交易者中的大多数坚持在以太坊上建立多头头寸，这表明他们相信价格长期会大幅上涨。

The bullish sentiment towards Ethereum is exemplified by a trader who, having incurred a loss of $4.5 million while holding a long position on ETH, nevertheless initiated another long position on the asset. This crypto whale even borrowed 17.3 million USDT from the Compound platform to augment their Ethereum exposure.

一位交易员在持有 ETH 多头头寸时损失了 450 万美元，但他又对该资产发起了多头头寸，这就是对以太坊看涨情绪的例证。这头加密鲸鱼甚至从Compound平台借了1730万美元，以扩大他们的以太坊敞口。

The bullish stance of these investors is particularly noteworthy given the disproportionate impact of volatility on long positions. Coinglass data indicates that over $16 million in long positions have been liquidated in the past 24 hours, compared to $10 million in short positions liquidated during the same period.

鉴于波动性对多头头寸的影响不成比例，这些投资者的看涨立场尤其值得注意。 Coinglass 数据显示，过去 24 小时内清算了超过 1600 万美元的多头头寸，而同期清算的空头头寸为 1000 万美元。

Supporting Market Metrics

支持市场指标

Data from market intelligence platform IntoTheBlock corroborates the bullish sentiment, as it shows a decline in Ethereum's Market Value to Realized Value (MVRV) ratio. This indicates that many Ethereum holders are yet to realize profits, suggesting a bullish outlook. These holders are likely to maintain their positions in anticipation of further upward price action, providing support against potential price declines.

市场情报平台 IntoTheBlock 的数据证实了看涨情绪，因为它显示以太坊的市场价值与已实现价值 (MVRV) 比率下降。这表明许多以太坊持有者尚未实现利润，表明前景看涨。这些持有者可能会因预期价格进一步上涨而维持其头寸，从而为潜在的价格下跌提供支撑。

Bearish Considerations

看跌考虑因素

While the derivatives market activity and Ethereum's MVRV ratio suggest a positive outlook, the asset's network growth presents grounds for caution, hinting at potential further price declines. Data from Santiment reveals a recent slowdown in the rate of new user onboarding for the Ethereum ecosystem.

虽然衍生品市场活动和以太坊的 MVRV 比率表明前景乐观，但该资产的网络增长值得谨慎，暗示价格可能进一步下跌。 Santiment 的数据显示，最近以太坊生态系统的新用户加入速度有所放缓。

This declining network growth is corroborated by a recent Bitcoinist report, which observed a significant decline in Ethereum fees to levels not seen since January. Typically, soaring fees accompany elevated network activity. Therefore, the decline in fees points to a reduction in the number of new users transacting on the network or holding ETH.

最近的一份 Bitcoinist 报告证实了网络增长的下降，该报告观察到以太坊费用大幅下降至 1 月份以来的最低水平。通常，费用飙升会伴随着网络活动的增加。因此，费用的下降意味着在网络上进行交易或持有 ETH 的新用户数量减少。

Balancing Act

平衡技术

However, a positive element is the increase in velocity observed by Santiment, suggesting that existing users on the network are actively trading and adding liquidity to the Ethereum ecosystem. This factor could also contribute to potential price surges for ETH.

然而，一个积极因素是 Santiment 观察到的速度增加，这表明网络上的现有用户正在积极进行交易，并为以太坊生态系统增加流动性。这一因素也可能导致 ETH 价格潜在上涨。

At the time of writing, Ethereum is trading at around $3,200, reflecting a modest gain in the past 24 hours, according to CoinMarketCap.

根据 CoinMarketCap 的数据，截至撰写本文时，以太坊的交易价格约为 3,200 美元，反映出过去 24 小时内的小幅上涨。

Conclusion

结论

The Ethereum price outlook remains a balancing act between bullish investor sentiment and concerns over network growth. While the former suggests a positive trajectory, the latter warrants caution. Once the current volatility subsides, the interplay of these factors will determine the ultimate direction of ETH's price. Investors and traders are advised to monitor the aforementioned metrics closely to discern the future trajectory of this highly influential cryptocurrency.

以太坊价格前景仍然是看涨的投资者情绪和对网络增长的担忧之间的平衡行为。虽然前者表明了积极的发展轨迹，但后者值得谨慎对待。一旦当前的波动性消退，这些因素的相互作用将决定 ETH 价格的最终走向。建议投资者和交易者密切监控上述指标，以了解这种极具影响力的加密货币的未来轨迹。