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ETH On-Chain Activity Observation (January 7 to January 8)
From the turnover data, ETH's on-chain liquidity has significantly increased in the past 24 hours. As of the morning of the 8th, the total cumulative turnover reached 880,000 tokens, up considerably from 710,000 tokens on the morning of the 7th, with a notable month-on-month increase. This reflects a continuous rise in market participation.
What does the sustained increase in turnover volume usually indicate? High on-chain activity often accompanies fluctuations in trader sentiment—whether it's chasing gains or stop-loss actions—which can drive up transaction volumes. From a data perspective, ETH's current trading enthusiasm remains high, and there are no obvious signs of market cooling. This active on-chain sentiment can serve as a reference dimension for assessing market heat.