ChainCatcher message, Matrixport released an analysis stating that the inflow of funds into Ethereum ETFs is primarily due to the establishment and expansion of 'treasury-type companies'. Whether the future market can continue to rise hinges on the continued investment from these institutions, especially in the context of still low on-chain activity. Although stablecoin issuance is more concentrated in Ethereum, and the future growth potential is generally viewed positively by the market, this advantage mainly reflects medium to long-term potential, with limited short-term contribution to revenue. From a technical perspective, if Ethereum cannot maintain the $4180 level, there remains a risk of further correction.