以太坊——采用率统计和稀缺性的变化如何推动新的突破

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u6469\u6839\u5927\u901a\u5728\u5468\u56db\u7684\u62a5\u544a\u4e2d\u8868\u793a\uff0c\u5982\u679c\u5168\u7403\u91d1\u878d\u6307\u6570\u516c\u53f8 MSCI \u5c06\u6bd4\u7279\u5e01\u300c\u91d1\u5e93\u5de8\u5934\u300dStrategy\uff08MSTR\uff09\u4ece\u5176\u80a1\u7968\u6307\u6570\u4e2d\u5254\u9664\uff0c\u76f8\u5173\u8d44\u91d1\u6d41\u51fa\u53ef\u80fd\u9ad8\u8fbe 28 \u4ebf\u7f8e\u5143\uff1b\u5982\u679c\u5176\u4ed6\u4ea4\u6613\u6240\u548c\u6307\u6570\u7f16\u5236\u65b9\u4e5f\u8ddf\u8fdb\uff0c\u603b\u6d41\u51fa\u89c4\u6a21\u53ef\u80fd\u9ad8\u8fbe 116 \u4ebf\u7f8e\u5143\u3002 \u5206\u6790\u6307\u51fa\uff0cMSTR \u80a1\u4ef7\u8fd1\u671f\u4e0b\u8dcc\u2014\u2014\u53e0\u52a0\u4eca\u5e74\u6574\u4f53\u7684\u75b2\u5f31\u8868\u73b0\u2014\u2014\u66f4\u591a\u662f\u6e90\u4e8e\u5e02\u573a\u62c5\u5fe7\u5176\u53ef\u80fd\u88ab MSCI \u4ee5\u53ca \u7eb3\u65af\u8fbe\u514b 100\u3001\u7f57\u7d20 1000 \u7b49\u591a\u4e2a\u6307\u6570\u79fb\u9664\uff0c\u800c\u4e0d\u662f\u56e0\u4e3a\u6bd4\u7279\u5e01\u81ea\u8eab\u7684\u4ef7\u683c\u4e0b\u8dcc\u3002 \u300c\u6b63\u662f\u7531\u4e8e\u8fd9\u4e9b\u6307\u6570\u7684\u7eb3\u5165\uff0c\u4f7f\u5f97\u6bd4\u7279\u5e01\u7684\u655e\u53e3\u4ee5\u4e00\u79cd\u95f4\u63a5\u65b9\u5f0f\u6e17\u900f\u8fdb\u4e86\u6563\u6237\u548c\u673a\u6784\u6295\u8d44\u8005\u7684\u6295\u8d44\u7ec4\u5408\u3002\u300d\u5206\u6790\u5e08\u5199\u9053\u3002\u300c\u7136\u800c\uff0c\u968f\u7740 MSCI \u73b0\u5728\u8003\u8651\u5c06 MicroStrategy \u548c\u5176\u4ed6\u4ee5\u6570\u5b57\u8d44\u4ea7\u6301\u4ed3\u4e3a\u4e3b\u7684\u516c\u53f8\u4ece\u80a1\u7968\u6307\u6570\u4e2d\u79fb\u9664\uff0c\u8fd9\u79cd\u6b64\u524d\u7684\u95f4\u63a5\u6e17\u900f\u53ef\u80fd\u4f1a\u51fa\u73b0\u9006\u8f6c\u3002\u300d MSCI \u6b63\u5728\u8bc4\u4f30\u4e00\u9879\u63d0\u6848\uff0c\u5373\u6392\u9664\u90a3\u4e9b\u4e3b\u8981\u4e1a\u52a1\u4e3a\u50a8\u5907\u6bd4\u7279\u5e01\u6216\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\u3001\u4e14\u8fd9\u7c7b\u8d44\u4ea7\u5360\u5176\u8d44\u4ea7\u8d1f\u503a\u8868 50% \u4ee5\u4e0a\u7684\u516c\u53f8\u3002MSCI \u4e0a\u6708\u8868\u793a\uff0c\u8fd9\u9879\u300c\u54a8\u8be2\u300d\u5c06\u6301\u7eed\u5230\u4eca\u5e74\u5e74\u5e95\uff0c\u5e76\u5c06\u5728 1 \u6708 15 \u65e5\u524d\u505a\u51fa\u6700\u7ec8\u51b3\u5b9a\u3002

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u91d1\u878d\u5e02\u573a\u7a33\u5b9a\u62c5\u5fe7\uff0c\u5305\u62ec\u8d44\u4ea7\u4ef7\u683c\u53ef\u80fd\u6025\u5267\u4e0b\u8dcc\u7684\u98ce\u9669\uff0c\u6b63\u6210\u4e3a\u7f8e\u8054\u50a8\u5b98\u5458\u8ba8\u8bba\u964d\u606f\u65f6\u673a\u751a\u81f3\u662f\u5426\u964d\u606f\u65f6\u7684\u65b0\u4e3b\u9898\u3002\u7f8e\u8054\u50a8\u7406\u4e8b\u4e3d\u838e\u00b7\u5e93\u514b\u5217\u4e3e\u4e86\u4e00\u7cfb\u5217\u91d1\u878d\u4f53\u7cfb\u98ce\u9669\uff0c\u5305\u62ec\u5feb\u901f\u589e\u957f\u7684\u79c1\u4eba\u4fe1\u8d37\u5e02\u573a\u3001\u5bf9\u51b2\u57fa\u91d1\u5728\u56fd\u503a\u5e02\u573a\u7684\u4ea4\u6613\uff0c\u4ee5\u53ca\u751f\u6210\u5f0f\u4eba\u5de5\u667a\u80fd\u5728\u673a\u5668\u4ea4\u6613\u4e2d\u7684\u5e94\u7528\u3002\u5e93\u514b\u8fd8\u6697\u793a\uff0c\u5979\u4e0d\u4f1a\u5bf9\u5904\u4e8e\u5386\u53f2\u9ad8\u4f4d\u7684\u8d44\u4ea7\u4ef7\u683c\u5d29\u76d8\u611f\u5230\u60ca\u8bb6\u3002 \u514b\u5229\u592b\u5170\u8054\u50a8\u4e3b\u5e2d\u8d1d\u4e1d\u00b7\u54c8\u739b\u514b\u91cd\u7533\u4e86\u5979\u5bf9\u8fdb\u4e00\u6b65\u964d\u606f\u7684\u53cd\u5bf9\uff0c\u56e0\u4e3a\u901a\u80c0\u4ecd\u7136\u8fc7\u9ad8\uff0c\u5e76\u8868\u793a\u5979\u8ba4\u4e3a\u5bbd\u677e\u7684\u91d1\u878d\u6761\u4ef6\u662f\u53cd\u5bf9\u964d\u606f\u7684\u53e6\u4e00\u4e2a\u7406\u7531\u3002 \u7f8e\u8054\u50a8\u7406\u4e8b\u8fc8\u514b\u5c14\u00b7\u5df4\u5c14\u5468\u56db\u8868\u793a\uff0c\u7f8e\u8054\u50a8\u5728\u8003\u8651\u8fdb\u4e00\u6b65\u964d\u606f\u65f6\u9700\u8981\u8c28\u614e\u3002 \u800c\u829d\u52a0\u54e5\u8054\u50a8\u4e3b\u5e2d\u5965\u65af\u5766\u00b7\u53e4\u5c14\u65af\u6bd4\u8868\u793a\uff0c\u4ed6\u4ecd\u7136\u5bf9 12 \u6708\u518d\u6b21\u964d\u606f\u611f\u5230\u62c5\u5fe7\u3002\u901a\u80c0\u8fdb\u5c55\u300c\u4f3c\u4e4e\u5df2\u7ecf\u505c\u6ede\uff0c\u5982\u679c\u6709\u7684\u8bdd\uff0c\u8fd8\u6536\u5230\u4e86\u5411\u9519\u8bef\u65b9\u5411\u53d1\u5c55\u7684\u8b66\u544a\uff0c\u300d\u53e4\u5c14\u65af\u6bd4\u8bf4\u3002\u300c\u8fd9\u8ba9\u6211\u6709\u70b9\u4e0d\u5b89\u3002\u300d

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u6469\u6839\u5927\u901a\u5206\u6790\u5e08\u8868\u793a\uff0c\u8fd1\u671f\u52a0\u5bc6\u5e02\u573a\u7684\u56de\u8c03\u2014\u2014\u5c24\u5176\u662f\u6bd4\u7279\u5e01\u8dcc\u7834\u8be5\u884c\u4f30\u7b97\u7684 9.4 \u4e07\u7f8e\u5143\u751f\u4ea7\u6210\u672c/\u652f\u6491\u4f4d\u540e\u8fdb\u4e00\u6b65\u52a0\u5267\u2014\u2014\u4e3b\u8981\u662f\u7531\u6563\u6237\u629b\u552e\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\u73b0\u8d27 ETF \u6240\u63a8\u52a8\uff0c\u800c\u5e76\u975e\u52a0\u5bc6\u539f\u751f\u4ea4\u6613\u8005\u3002 \u300c\u867d\u7136 10 \u6708\u4efd\u52a0\u5bc6\u539f\u751f\u6295\u8d44\u8005\u901a\u8fc7\u5927\u5e45\u53bb\u6760\u6746\uff08\u5c24\u5176\u662f\u5728\u6c38\u7eed\u5408\u7ea6\u4e2d\uff09\u5bfc\u81f4\u4e86\u5e02\u573a\u56de\u8c03\uff0c\u4f46\u8fd9\u79cd\u6c38\u7eed\u5408\u7ea6\u4e2d\u7684\u53bb\u6760\u6746\u5728 11 \u6708\u4f3c\u4e4e\u5df2\u8d8b\u4e8e\u7a33\u5b9a\u3002\u300d\u6469\u6839\u5927\u901a\u8463\u4e8b\u603b\u7ecf\u7406 Nikolaos Panigirtzoglou \u53ca\u5176\u56e2\u961f\u5728\u5468\u4e09\u7684\u62a5\u544a\u4e2d\u5199\u9053\uff0c\u300c\u76f8\u53cd\uff0c\u8fd1\u671f\u63a8\u52a8 11 \u6708\u52a0\u5bc6\u5e02\u573a\u7ee7\u7eed\u56de\u8c03\u7684\u4e3b\u8981\u529b\u91cf\uff0c\u662f\u975e\u52a0\u5bc6\u6295\u8d44\u8005\uff0c\u5c24\u5176\u662f\u90a3\u4e9b\u901a\u8fc7\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\u73b0\u8d27 ETF \u8fdb\u5165\u52a0\u5bc6\u5e02\u573a\u7684\u6563\u6237\u3002\u300d \u5206\u6790\u5e08\u6307\u51fa\uff0c\u672c\u6708\u8fc4\u4eca\u4e3a\u6b62\uff0c\u6563\u6237\u5df2\u4ece\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\u7684\u73b0\u8d27 ETF \u4e2d\u64a4\u51fa \u7ea6 40 \u4ebf\u7f8e\u5143\uff0c\u8fd9\u4e00\u89c4\u6a21\u5df2\u7ecf\u8d85\u8fc7 2 \u6708\u7684\u5386\u53f2\u7eaa\u5f55\u51c0\u6d41\u51fa\u3002\u8fd9\u79cd\u884c\u4e3a\u4e0e\u6563\u6237\u5728\u80a1\u5e02\u4e2d\u7684\u8d44\u91d1\u6d41\u52a8\u5f62\u6210\u9c9c\u660e\u5bf9\u6bd4\u3002\u6563\u6237\u5728 11 \u6708\u5df2\u5411\u80a1\u7968 ETF\uff08\u5305\u62ec\u6760\u6746\u7c7b\u4ea7\u54c1\uff09\u6295\u5165\u7ea6 960 \u4ebf\u7f8e\u5143\u2014\u2014\u5982\u679c\u8fd9\u79cd\u8282\u594f\u6301\u7eed\u5230\u6708\u5e95\uff0c\u603b\u989d\u5c06\u63a5\u8fd1 1600 \u4ebf\u7f8e\u5143\uff0c\u4e0e 9 \u6708\u548c 10 \u6708\u7684\u6c34\u5e73\u76f8\u5f53\u3002 \u4ed6\u4eec\u6307\u51fa\uff0c\u6563\u6237\u6b64\u524d\u4e5f\u51fa\u73b0\u8fc7\u7c7b\u4f3c\u7684\u300c\u5206\u5316\u884c\u4e3a\u300d\uff1a\u4e00\u65b9\u9762\u5f3a\u529b\u4e70\u5165\u80a1\u7968\uff0c\u53e6\u4e00\u65b9\u9762\u5374\u5728\u5c11\u6570\u51e0\u4e2a\u6708\u4efd\uff08\u4eca\u5e74\u4ec5 2 \u6708\u30013 \u6708\u548c\u73b0\u5728\u7684 11 \u6708\uff09\u5356\u51fa\u52a0\u5bc6 ETF\u3002\u8fd9\u663e\u793a\u6563\u6237\u4f9d\u7136\u5c06\u52a0\u5bc6\u8d44\u4ea7\u4e0e\u80a1\u7968\u89c6\u4e3a\u4e24\u79cd\u72ec\u7acb\u7684\u8d44\u4ea7\u7bee\u5b50\uff0c\u5373\u4fbf\u4e24\u8005\u90fd\u662f\u98ce\u9669\u8d44\u4ea7\u3002

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u636e OnchainLens \u76d1\u6d4b\uff0c\u300c\u9ebb\u5409\u300d\u9ec4\u7acb\u6210\u518d\u6b21\u5411 HyperLiquid \u5b58\u5165 11.5 \u4e07\u679a USDC\uff0c\u7528\u4e8e\u7ee7\u7eed\u52a0\u4ed3\u4ed6\u7684 25 \u500d\u6760\u6746 ETH \u591a\u5934\u4ed3\u4f4d\uff0c\u6e05\u7b97\u4ef7\u683c\u4e3a 2818.30 \u7f8e\u5143\u3002\u300c\u6709\u8da3\u7684\u662f\uff1a\u4ed6\u5728\u5f00\u4ed3\u7684\u8fc7\u7a0b\u4e2d\uff0c\u5c31\u88ab\u6e05\u7b97\u4e86\u90e8\u5206\u4ed3\u4f4d\u3002\u300d

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u77e5\u60c5\u4eba\u58eb\u900f\u9732\uff0c\u9884\u6d4b\u5e02\u573a\u5e73\u53f0 Kalshi \u5728\u6700\u65b0\u4e00\u8f6e\u878d\u8d44\u4e2d\u7b79\u96c6\u4e86 10 \u4ebf\u7f8e\u5143\uff0c\u516c\u53f8\u4f30\u503c\u8fbe\u5230 110 \u4ebf\u7f8e\u5143\u3002\u8fd9\u8ddd\u79bb\u8fd9\u5bb6\u6210\u7acb\u4e03\u5e74\u7684\u521d\u521b\u516c\u53f8\u5ba3\u5e03\u4e0a\u4e00\u8f6e 3 \u4ebf\u7f8e\u5143\u878d\u8d44\u300150 \u4ebf\u7f8e\u5143\u4f30\u503c\u8fd8\u4e0d\u5230\u4e24\u4e2a\u6708\u3002 \u77e5\u60c5\u4eba\u58eb\u8868\u793a\uff0c\u672c\u8f6e\u878d\u8d44\u7531 Kalshi \u7684\u8001\u80a1\u4e1c \u7ea2\u6749\u8d44\u672c\uff08Sequoia\uff09\u548c CapitalG \u9886\u6295\u3002\u5176\u4ed6\u6295\u8d44\u8005\u8fd8\u5305\u62ec a16z\u3001Paradigm\u3001Anthos Capital \u548c Neo\u3002\u636e\u5f6d\u535a\u793e\u62a5\u9053\uff0c Kalshi \u7684\u4e3b\u8981\u7ade\u4e89\u5bf9\u624b Polymarket\uff0c\u5728\u4e0a\u4e2a\u6708\u4e5f\u5728\u6d3d\u8c08\u65b0\u4e00\u8f6e\u878d\u8d44\uff0c\u4f30\u503c\u533a\u95f4\u6216\u8fbe 120 \u4ebf\u81f3 150 \u4ebf\u7f8e\u5143\uff0c\u800c\u5c31\u5728\u51e0\u5468\u524d\uff0cPolymarket \u521a\u4ee5 80 \u4ebf\u7f8e\u5143 pre-money \u4f30\u503c\u5b8c\u6210\u4e86 10 \u4ebf\u7f8e\u5143\u878d\u8d44\u3002 \u53bb\u5e74\u4ee5\u6765\uff0cKalshi \u548c Polymarket \u7684\u4eba\u6c14\u90fd\u5927\u5e45\u6500\u5347\uff0c\u56e0\u4e3a\u5b83\u4eec\u90fd\u5141\u8bb8\u7528\u6237\u5bf9\u603b\u7edf\u5927\u9009\u7ed3\u679c\u4e0b\u6ce8\u3002\u672c\u6708\u65e9\u4e9b\u65f6\u5019\uff0c\u4e24\u5bb6\u5e73\u53f0\u51c6\u786e\u9884\u6d4b\u4e86\u7ebd\u7ea6\u5e02\u5e02\u957f\u9009\u4e3e\u7684\u7ed3\u679c\uff0c\u4f7f\u5f97\u8fd9\u4e9b\u535a\u5f69\u7c7b\u9884\u6d4b\u7f51\u7ad9\u7684\u77e5\u540d\u5ea6\u8fdb\u4e00\u6b65\u63d0\u5347\u3002Kalshi \u5141\u8bb8\u6765\u81ea 140 \u591a\u4e2a\u56fd\u5bb6\u7684\u7528\u6237\u5bf9\u5404\u79cd\u672a\u6765\u4e8b\u4ef6\u4e0b\u6ce8\uff0c\u8303\u56f4\u4ece\u300a\u65f6\u4ee3\u300b\u6742\u5fd7 2025 \u5e74\u5ea6\u98ce\u4e91\u4eba\u7269\u3001\u7535\u5f71 \u300a\u5973\u5deb\u524d\u4f20\u300b\uff08Wicked\uff09\u7684\u70c2\u756a\u8304\u8bc4\u5206\uff0c\u5230\u66f4\u957f\u671f\u7684\u4e8b\u4ef6\uff0c\u5982\u4e0b\u4e00\u4efb\u7f8e\u56fd\u603b\u7edf\u5927\u9009\u7684\u6700\u7ec8\u8d62\u5bb6\u7b49\u3002

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u636e @EmberCN \u76d1\u6d4b\uff0cMovement \u518d\u5c06 5000 \u4e07\u679a\u6b64\u524d\u56de\u8d2d\u7684 MOVE (\u4ef7\u503c\u7ea6 251 \u4e07\u7f8e\u5143) \u8f6c\u5165 Binance\u3002Movement \u5728 3 \u6708\u4efd\u88ab\u8981\u6c42\u8fdb\u884c 3800 \u4e07\u7f8e\u5143\u7684\u4ee3\u5e01\u56de\u8d2d\uff0c\u540e\u9762\u4ed6\u4eec\u4e00\u5171\u4ece Binance \u63d0\u4e86 1.8 \u4ebf\u679a MOVE \u5230\u56de\u8d2d\u7684\u94fe\u4e0a\u516c\u5f00\u5730\u5740\uff0c\u56de\u8d2d\u5747\u4ef7\u662f 0.21 \u7f8e\u5143\u3002\u4e0d\u8fc7\u5728\u5b8c\u6210\u56de\u8d2d\u540e\uff0c\u4ed6\u4eec\u53c8\u9646\u7eed\u628a MOVE \u5728\u91cd\u65b0\u8f6c\u8fdb Binance\u3002\u8fd9\u4e9b\u56de\u8d2d\u7684 MOVE \u73b0\u5728\u5df2\u7ecf\u6709 1.15 \u4ebf\u679a (\u4ef7\u503c\u7ea6 1091 \u4e07\u7f8e\u5143) \u88ab\u91cd\u65b0\u8f6c\u8fdb\u4e86 Binance\u3002 \u622a\u81f3\u53d1\u6587\u65f6\uff0cMOVE \u6682\u62a5 0.05 \u7f8e\u5143\uff0c24 \u5c0f\u65f6\u8dcc\u5e45 4.32%\uff0c30 \u5929\u8dcc\u5e45 36%\uff0c90 \u5929\u8dcc\u5e45 61%\u3002

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u7f8e\u56fd\u8d22\u957f\u8d1d\u68ee\u7279\u8868\u793a\uff0c\u7f8e\u8054\u50a8\u5e94\u8be5\u5173\u6ce8\u6570\u636e\uff0c\u7ee7\u7eed\u5176\u964d\u606f\u5468\u671f\u3002\uff08\u91d1\u5341\uff09

BlockBeats \u6d88\u606f\uff0c11 \u6708 21 \u65e5\uff0c\u9694\u591c\u7eb3\u6307\u6536\u8dcc\u903e 2%\uff0c\u65e5\u97e9\u80a1\u5e02\u8ddf\u8dcc\u3002\u97e9\u56fd KOSPI \u6307\u6570\u76d8\u521d\u8dcc\u5e45\u8fc5\u901f\u6269\u5927\u81f3 4%\uff0c\u65e5\u7ecf 225 \u6307\u6570\u5931\u5b88 49000 \u70b9\uff0c\u65e5\u5185\u8dcc\u5e45 2.03%\u3002(\u91d1\u5341)