2026-01-06 00:30:30

#数字资产动态追踪 Ethereum's recent trend indeed warrants a thorough analysis. This round of market movement is not without cause—technical, capital, and ecological factors are all interconnected.

**Substantial Progress in Technology**
Vitalik previously confirmed that through the integration of ZKEVM and PeerDAS, Ethereum has, in a sense, addressed the blockchain trilemma. This is not just marketing language; it involves fundamental breakthroughs in scalability and decentralization. The official roadmap extends to 2030, indicating the team’s clear long-term planning. After the Fusaka upgrade, the number of new addresses surged by 110%, a metric that reflects genuine network activity.

**Clear Signals from Capital**
In 2025, Ethereum-related investment products attracted $12.7 billion, a 138% increase compared to last year—this scale already represents the strongest capital attraction among mainstream blockchains. Recent ETF continuous net inflows suggest that institutions are not rushing in at high prices but are gradually and rationally increasing their allocations.

**Network Utility Reaches New Heights**
Stablecoin transfers exceeded $8 trillion in Q4 2025, reflecting real on-chain payment and transaction demand. This is not hype data but proof of actual network usage.

**But Risks Must Be Recognized**
Holders of "ancient ETH" with a cost basis below $400 often choose to take profits when prices surpass $4,000. This is not conspiracy theory but a historical pattern. Additionally, the entity BitMine holds 4.1 million ETH (about 3.4% of the total supply), a concentration that warrants caution, as it could impact liquidity and decentralization.

Short-term technical indicators also show that the price has slightly pulled back from overbought levels and is now near the upper Bollinger Band, indicating potential short-term volatility or a correction.

**Community Perspective**
Overall, the sentiment is very bullish, but this optimism is based on tangible factors like technological breakthroughs, genuine institutional inflows, and record network activity. However, the market always has two sides, and it’s crucial to stay true to this enthusiasm.

ETH1,53%

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StrawberryIce

· 01-08 08:45

Institutions' logic for this wave of accumulation indeed looks hardcore, but accumulating so much ETH with BitMine still feels a bit off... --- ZKEVM's three challenges? Sounds pretty impressive, just not sure how it actually feels in practice. --- The data showing 8 trillion stablecoins in circulation is truly shocking, worth much more than just hype. --- We need to be both bullish and cautious. I believe this narrative, but I'm just worried that if we can't hold, we'll get cut. --- The new address surging by 110% is a real signal; at least it's not just air. --- Old ETH holders with a $400 cost basis really have to choose now. Whether they can pass the $4,000 mark depends on luck. --- Institutions quietly deploying with a 138% growth rate—I'm truly impressed. --- The upper band of the Bollinger Bands is approaching... just waiting to see the upcoming oscillation show.

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LayerZeroJunkie

· 01-08 04:25

Wait, holding 4.1 million ETH by BitMine can influence the entire network? That's so exaggerated. I'll just hold until my mindset collapses.

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ApeWithNoFear

· 01-07 17:37

This round of data piling is indeed exciting, but I still feel a bit uneasy about the fact that 4.1 million ETH are held by BitMine. --- Fusaka's new address surged 110% after the upgrade? Sounds good, but the real question is whether these are genuine users or just羊毛 (scalpers). --- I'm convinced about the technological breakthrough of ZKEVM, but I'm worried it might end up like previous times when the market just drew a big circle and nothing followed. --- $12.7 billion in net inflows is tempting, but let's not forget that old ETH holders have been dumping since $4,000. --- The stablecoin transfer of 8 trillion is an outrageous number—I'm wondering how much of this is driven by real demand. --- Institutional allocations seem rational, but I always feel that the next round of high-level buyers will still be retail investors. --- Is the upper band of the Bollinger Bands approaching a correction? We should stay cautious in the short term and not get carried away by this wave of enthusiasm. --- I still believe in the technical route endorsed by Vitalik, but trusting technology and trusting the price are two different things. --- Looking at the community's momentum, it feels like it's time to clear out the positions again. --- The 8 trillion payment demand sounds real, but who is actually driving the surge—the on-chain activity or the price?

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BuyHighSellLow

· 01-06 18:29

Really, 4.1 million ETH held by a single institution? That's quite concentrated. To be honest, it still depends on how the big players move.

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FalseProfitProphet

· 01-06 01:00

Old ETH holders, it's time to sell when the time comes. Don't say I didn't warn you.

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StopLossMaster

· 01-06 01:00

Market analysis is so detailed, but I still stick to the old saying—no matter how bullish the technicals are, they can't withstand a rogue trader fleeing. The new address surging 110% sounds great, but that 4.1 million ETH concentration is truly a ticking time bomb. Who can guarantee this isn't the next trigger for a dump? 80 trillion stablecoin transfers? The nice way to put it is usage volume; the harsh way is that the cost of moving assets is hitting new highs. How can anyone genuinely be optimistic about arbitrage? Wait, with so many positive signals, why am I feeling more nervous... Could it be another scenario where "all positive news eventually turns into negative"?

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SerNgmi

· 01-06 00:58

Another set of narratives... The data is indeed impressive, but does anyone really care about BitMine's 4.1 million ETH? --- Institutional net inflows are a good thing, but I'm just worried they'll all run away together later. This story has played out too many times in history. --- Vitalik speaking ≠ solving the trilemma. Is this time really different? I doubt it. --- The 8 trillion stablecoin flow sounds impressive, but what about actual user growth? Numbers can be deceptive. --- Is the upper band of Bollinger Bands approaching a correction? Then just wait and see before jumping in. Why rush? --- Advancing with a reasonable pace... The "reasonable" approach of institutions is just us buying at high prices. Don't fool ourselves. --- Fusaka's new upgrade address surged by 110%, but are these addresses truly active users or just more people trying to cut the leeks? --- It's good to be optimistic, but what is implied by such clear risk disclosures in the analysis?

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ApeDegen

· 01-06 00:45

Institutional net inflow is real, but I care more about when that 4.1 million ETH will be sold... --- zkevm+peerdas sound awesome, but how long will it take for these two to actually land? Anyway, I can't wait anymore --- $12.7 billion in fundraising? Wow, this is the real sign that institutions are optimistic, more than any technical roadmap can explain --- 8 trillion stablecoin transfers... that number seems a bit outrageous, are you sure there's no water injection? --- Replaying the same old tune of history, the old guys who bought at $400 have seen a couple of waves over $4000, do they dare to really go all in this time? --- Why do some people always talk about the upper band of Bollinger Bands? Short-term pullbacks are just normal; long-term, it's no big deal --- I like the overall argument, neither overhyped nor overly pessimistic, well-reasoned. Such voices are still too few in the community --- Fusaka's new address surged 110%, anyway, I can't keep up with this pace --- Institutional rational planning vs. retail FOMO, let's wait and see who laughs last

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BlockchainWorker

· 01-06 00:40

$12.7 billion net inflow, institutions are quietly getting on board. This wave is different. Old ETH holders probably won't dump again... history really loves to repeat itself. Saying zkevm solves the three major problems too absolutely, let's wait and see the actual results. $8 trillion stablecoin transfers... on-chain activity has indeed picked up. These numbers are solid. Bitmine's 3.4% concentration is a bit concerning; caution is needed. Short-term Bollinger Bands are under huge pressure; a correction is only a matter of time. Vitalik's recent statements definitely gave enough confidence, but don't overestimate. This rally is a bit too idealistic; let's wait and see how institutions react. New addresses surged by 110%, the network is still lively.

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