以太坊的统治动摇：稳定币主导地位直线下降，价值相对于比特币大幅下跌

以太坊在稳定币领域的主导地位正在减弱，波场在交易量和交易数量上都超越了它。 “合并”之后，ETH/BTC 暴跌 45%，以太坊超越比特币市值的“翻转”梦想似乎越来越遥远。

Ethereum's Stablecoin Dominance Wanes Amidst Bitcoin's Surge

随着比特币的飙升，以太坊的稳定币主导地位逐渐减弱

Ethereum's grip on the stablecoin market is slipping, with Tron emerging as a formidable challenger. Tron now commands over 55% of stablecoin volumes and a staggering 89% of stablecoin transaction counts, leaving Ethereum's dominance in doubt.

以太坊对稳定币市场的控制力正在下滑，波场正成为一个强大的挑战者。 Tron 现在占据了超过 55% 的稳定币交易量和惊人的 89% 的稳定币交易量，这让以太坊的主导地位受到质疑。

Ethereum's Value Plummets Against Bitcoin, Raising Concerns About Its Future

以太坊的价值相对于比特币暴跌，引发对其未来的担忧

Ethereum's value against Bitcoin has hit its lowest point since February 2021, dropping to a mere 0.046. This significant decline follows the much-anticipated "Merge" in September 2022, marking a 45% plunge in ETH/BTC's value.

以太坊兑比特币的价值已触及 2021 年 2 月以来的最低点，跌至仅 0.046。这一大幅下跌是在 2022 年 9 月备受期待的“合并”之后发生的，标志着 ETH/BTC 的价值暴跌 45%。

Rumors Swirl: Is the "Flippening" Dream Dead?

谣言四起：“翻转”梦想破灭了吗？

The market downturn and Ethereum's waning dominance have sparked speculation about the "Flippening," or the hypothetical scenario where Ethereum surpasses Bitcoin's market capitalization. However, this dream appears to be fading, with experts questioning whether Ethereum can regain its former glory.

市场低迷和以太坊主导地位的减弱引发了人们对“翻转”的猜测，即以太坊市值超过比特币的假设情景。然而，这个梦想似乎正在破灭，专家们质疑以太坊能否重拾昔日的辉煌。

Mainnet Quiet, Critics Raise Concerns About Layer-2 Solutions

主网安静，批评者对第 2 层解决方案表示担忧

Ethereum's mainnet activity has dwindled, with transaction fees reaching multi-year lows. While some attribute this decline to the growth of Layer-2 (L-2) solutions, critics express doubts about L-2s' resilience under regulatory scrutiny, particularly regarding privacy services.

以太坊的主网活动已经减少，交易费用达到多年来的低点。虽然一些人将这种下降归因于 Layer-2 (L-2) 解决方案的增长，但批评者对 L-2 在监管审查下的弹性表示怀疑，特别是在隐私服务方面。

Optimists Remain Bullish, Pin Hopes on Regulatory Advancements

乐观主义者仍然看好，寄希望于监管进步

Despite the market setbacks, some analysts remain optimistic about Ethereum's long-term potential. They argue that regulatory clarity and the approval of Ethereum-based exchange-traded funds (ETFs) could drive ETH prices higher, although short-term dips may occur in the event of unfavorable regulatory decisions.

尽管市场遭遇挫折，一些分析师仍然对以太坊的长期潜力持乐观态度。他们认为，监管的明确性和基于以太坊的交易所交易基金（ETF）的批准可能会推动 ETH 价格走高，尽管如果监管决策不利，可能会出现短期下跌。

Historical Trends Favor Ethereum, but SEC Verdict Looms

历史趋势有利于以太坊，但美国证券交易委员会的裁决迫在眉睫

Echoing the sentiments of industry experts, Joe Di Pasquale of BitBull Capital highlights historical patterns where Bitcoin tends to rise faster than altcoins after market crashes. However, ETH and other altcoins often catch up and outperform in subsequent years.

BitBull Capital 的 Joe Di Pasquale 呼应了行业专家的观点，强调了市场崩溃后比特币往往比山寨币上涨更快的历史模式。然而，以太坊和其他山寨币在随后的几年里往往会迎头赶上并跑赢大盘。

Meanwhile, Ethereum's fate hangs in the balance as the market anxiously awaits the verdict of the Securities and Exchange Commission (SEC). The SEC's decision on how to classify Ethereum, whether as a security or a commodity, will have far-reaching implications for the broader crypto market. If the SEC deems Ethereum a security, it could face increased regulatory scrutiny and potentially hinder its growth.

与此同时，由于市场焦急地等待美国证券交易委员会（SEC）的裁决，以太坊的命运悬而未决。美国证券交易委员会关于如何对以太坊进行分类的决定，无论是作为证券还是商品，将对更广泛的加密市场产生深远的影响。如果美国证券交易委员会认为以太坊是一种证券，它可能会面临更严格的监管审查，并可能阻碍其增长。

In conclusion, Ethereum's dominance in the stablecoin market is waning as Tron gains ground, while its value against Bitcoin has plummeted. Questions linger about the "Flippening" dream, and concerns about Layer-2 solutions persist. However, optimists remain hopeful, citing potential regulatory advancements and Ethereum's strong position in stablecoin issuance. The SEC's verdict on Ethereum's classification looms large, and its decision will significantly impact Ethereum's future and the crypto market as a whole.

总而言之，随着 Tron 的崛起，以太坊在稳定币市场的主导地位正在减弱，而其相对于比特币的价值却大幅下跌。关于“翻转”梦想的疑问依然存在，对第 2 层解决方案的担忧也持续存在。然而，乐观主义者仍然充满希望，理由是潜在的监管进步和以太坊在稳定币发行方面的强势地位。美国证券交易委员会对以太坊分类的裁决迫在眉睫，其决定将对以太坊的未来和整个加密市场产生重大影响。