2025-12-25 07:51:29

#数字资产市场动态 The Ethereum Adjustment Cycle Worth Reviewing

From last August's $4,946 down to November's $2,991, the decline was indeed significant. But a closer look at the data shows that institutional activity is actually increasing—9 spot ETF applications have been approved, with major players like BlackRock holding 6.2 million ETH, accounting for 5% of the total circulating supply. This scale is no joke. Digital asset treasuries are also contributing, having added 4.8 million ETH in 2025, continuously creating stable buying pressure.

On the technical side, real improvements are underway. The Pectra upgrade has begun, raising the staking cap from 32 ETH to 2,048 ETH, and the block capacity has expanded by 50%, representing a qualitative leap in network throughput. However, challenges remain—Layer 2 liquidity fragmentation has not been fully resolved, and competitors like Solana are already eroding market share in L1 transaction fees, dropping to around 17%. Short-term chip fluctuations are also increasing, and this restless atmosphere could trigger intense volatility.

Going forward, key factors to watch are the net flow of ETF funds and the pace of ecosystem applications following Pectra's implementation. These two elements will directly influence the mid-term landscape. $ETH $BNB $XRP

ETH0.08%

BNB-0.96%

XRP0.16%

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SchrodingersFOMO

· 13h ago

BlackRock's 62 million ETH, I really didn't expect it. This move is a bit aggressive, feels like institutions are frantically accumulating at the bottom.

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GateUser-beba108d

· 13h ago

Institutions are bottom-fishing, and BlackRock is accumulating coins. Meanwhile, us retail investors are still debating when it's safe to jump in? That's hilarious.

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BearMarketBuilder

· 13h ago

Institutions are simultaneously dumping and accumulating, truly playing it skillfully. BlackRock holding such a large amount of ETH is really a big move.

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PancakeFlippa

· 13h ago

Institutions are accumulating, and retail investors are still bottom-fishing? The folks at BlackRock are really ruthless. --- Pectra's upgrade still feels a bit uncertain; the liquidity issue with Layer2 isn't resolved in a day, and it's tough to bear. --- Damn, Sol is grabbing territory again. The market share of transaction fees dropping to 17% is no small matter. --- Net ETF capital inflow is the real key; this thing is much more honest than technical analysis. --- 4.8 million tokens increased? Buddy, what game are you playing with us? --- Short-term volatility can easily trigger big moves; we need to keep a close eye.

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ConsensusBot

· 13h ago

Institutions are frantically buying the dip during the crash, I've seen this move before... Looks like ETH still has a chance. --- Pectra upgrade sounds promising, but when will the bunch of Layer2 issues truly be resolved? Feels like the technical progress can't keep up with Solana's talent poaching speed. --- 62 million ETH are in BlackRock's hands... Honestly, this is a real signal of confidence, much more reliable than what analysts' calls suggest. --- Now it's just a matter of when ETF funds will truly start flowing in; otherwise, this rebound is just a bluff. --- Staking cap increased from 32 to 2048, this change is interesting, but whether the ecosystem can keep up is the real issue. --- With Solana's transaction costs so low and Layer2 liquidity fragmented, it's really uncertain how long Ethereum can maintain its position. --- A 4.8 million increase in holdings by 2025... If it weren't for institutions buying the dip, the current decline could have been even more severe. Now, it has become a stabilizing force.

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