Last night, Ethereum topped the Douyin hot search list, with official media and self-media crowding to release videos of Ethereum's surge, generating a lot of buzz. Someone in the industry confirmed with Douyin's official team that this hot search was not paid for, but was real traffic. Although this hot search was later removed by the officials, this wave of attention proves that Ethereum has garnered significant interest domestically.

Everyone in the community is speculating whether Ethereum has changed hands. Of course, some are guessing that large funds are doing something behind the scenes, preparing to pump and dump, although it's best to take such information with a grain of salt. Let's look at the data. First, regarding ETFs, currently, global ETFs have locked in 3.45 million ETH, accounting for 2.86% of the total supply of 120 million. Among them, U.S. institutions account for 99.42%, while Hong Kong institutions are in the minority. Although this seems like a considerable amount, when compared to the total ETH supply, it is just a drop in the bucket. Next, let's look at staking; under the PoS mechanism, 34.19 million ETH has been staked, accounting for 28.3% of the total supply, which is no small percentage. Moreover, even if the price of ETH drops to rock bottom, the staking amount has not significantly decreased and is even slowly increasing, especially the 16 million ETH with a cost price below $1500, which constitutes half of the total staked amount. Additionally, over 23 million ETH is locked in smart contracts.

This means that more than half of the ETH is basically locked up. The circulating supply, therefore, becomes a potential target for handover. Furthermore, BlackRock recently met with the new SEC chairman to discuss the staking of Ethereum ETFs. There are rumors that the ETH spot ETF staking may be approved soon. #山寨币交易 #山寨季何时到来 #BTC重返10万