2025-12-02 21:21:29

The recent incident is quite interesting.

On the CME, the trading volume of Ethereum futures has unprecedentedly surpassed that of Bitcoin. This is not just a random fluctuation in data, but a substantial shift in the flow of funds.

Look at a few key actions: Vanguard has opened up trading permissions for Ethereum spot ETFs, and this entity manages over $19 trillion. The volatility of Ethereum options on the CME is rising, indicating that big money is quietly testing the waters.

On-chain costs are now absurdly low—mainnet gas fees have dropped below 0.1 Gwei, and transfers only cost two cents. This level of cost was previously unimaginable. The barrier to interaction has basically disappeared.

Looking at the price-sensitive zone again: If ETH falls below the line of $2,701, nearly $1.5 billion in long positions will be liquidated; if it breaks above $2,961, $720 million in short positions will be affected. At this position, any directional momentum release will be quite challenging.

In simple terms: institutional channels are opened, on-chain fees are at historic lows, and the popularity of derivatives has surpassed. These three dimensions are simultaneously boosting Ethereum.

There will definitely be fluctuations in the short term, but the underlying logic has changed. If institutions continue to buy through ETFs and CME—

Will you consider laying out ecological projects in advance? Gas is so cheap, are there any on-chain plays you want to try?

ETH-1.68%

BTC-2.03%

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PumpStrategist

· 19h ago

The chip distribution shows that institutions are quietly entering, but those chasing now are just following the herd with a retail investor mentality. --- The pattern is set; now it's just a matter of who can survive until the risk is released. --- Transferring for two cents? Sounds easy, but how many people actually know how to use it? --- On the day $1.5 billion in longs get liquidated, there will be voices in the community saying, "I told you so." --- Vanguard opening the gates is interesting—the capital is there, but don't be naive and think they'll keep buying forever. --- Gas fees being this low actually makes me cautious—the more comfortable things seem, the more you need to check if the underlying logic has truly changed. --- The 2961 hurdle—how strong is the technical support, or is it just a fake breakout fueled purely by capital inflows? --- From a probabilistic strategy perspective, is the expected return really that high for those entering now? --- There are indeed interesting price levels, but market sentiment indicators have been flashing overbought warnings for a while—everyone, stay rational. --- It sounds great that institutional channels have opened up, but the chip distribution of withdrawal addresses from exchanges tells a different story.

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BearWhisperGod

· 12-04 05:00

Damn, Vanguard is making big moves. The $19 trillion giant is entering the market—no wonder futures volume has surpassed Bitcoin. This time it’s really not just data fluctuations. Gas fees are just two cents? I need to quickly transfer the junk NFTs in my wallet. Should’ve cleared them out earlier. Those two price levels are pretty intense. If 2701 crashes, it’ll look ugly. At this point, it’s definitely better to stay cautious. Is anyone testing any projects on L2? Feels a bit early to jump into ecosystem tokens, but with cheap gas, might as well take advantage. Institutions are all coming in. Can’t say much for the short term, but this shift in logic is definitely worth noting. The bad news is we might still see more sideways consolidation. The good news is the real catalyst is slowly being ignited.

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DefiPlaybook

· 12-04 00:53

According to the data, this wave of the Vanguard+CME combo has indeed changed the market structure. Notably, the 0.1 Gwei Gas cost means that the economic model for smart contract interactions has been completely rewritten.

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MidnightTrader

· 12-02 21:51

Wow, Vanguard's move is really amazing. The 19 trillion capital daddy has started playing with ETH, isn't this paving the way for us? Gas fees are two cents, finally we can easily make some profits, haha.

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JustHereForAirdrops

· 12-02 21:48

With gas this cheap, not entering a position is really a sign of being out of one's mind.

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TokenUnlocker

· 12-02 21:41

Institutions are really secretly entering a position. As soon as the pioneer opened up, it was directly a signal flare. With Gas so cheap, it would be a waste not to play around a bit.

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CounterIndicator

· 12-02 21:28

Hmm... institutions are really starting to take this seriously, huh? This time it's different. With gas prices this low, I'm thinking of doing a dry run on some things I've wanted to try for a while, but to be honest, I'm still a bit hesitant to enter the market at this position.

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AirdropATM

· 12-02 21:24

Wow, CME futures volume has surpassed Bitcoin? This time it's not just data fluctuations, institutions are really quietly entering a position. Gas prices have dropped to two cents, it's really time to try some new on-chain strategies. If 2701 breaks, long positions will explode directly, and it's still a pretty dangerous position now.

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