Recently, Ethereum has been quite active! A few days ago, it surged by 40%, and after a false rally tonight, it plummeted by 10%. Is this the last liquidation in Ethereum's upward cycle?

As a seasoned player in the crypto world, let me break down the recent market trends and technical upgrades for ETH.

First, let's talk about the technical aspects:

The Pectra upgrade on May 7 was impressive, doubling the blob capacity of each block.

Now, the gas fees for Rollup projects are almost negligible.

Account abstraction has also been upgraded, making it smoother and more secure to use.

Market performance:

Just a few days ago, it broke through $2700, then quickly fell below $2400.

The contract market has been thrilling, with 438 million short positions liquidated in just 4 days.

Whales are secretly increasing their positions, with addresses holding over 10,000 ETH accumulating more than 40 million tokens.

Regulatory environment:

The new stablecoin bill from the U.S. is a bit annoying.

The EU will start to delist non-compliant stablecoins in June.

However, it's quite interesting that Arizona can pay taxes using Bitcoin.

Personal observations:

1. After the upgrade, Rollup has improved, but the storage pressure on nodes has increased.

2. Blob space is currently somewhat excessive, with a utilization rate of only 67%.

3. Altcoins have followed ETH's rise, but sustainability is questionable.

Key focus areas:

✅ Changes in whale holdings

✅ The impact of new EU regulations on DeFi

✅ Changes in ETH burn rates

How high do you think this upgrade can push ETH? Is $3000 possible? Feel free to chat in the comments section～ Follow me for first-hand on-chain data! #ETH走势分析