#数字资产市场动态 ETH is currently consolidating, with the closing price in the last hour staying at $2929.79. The entire market is in a period of volatility. But looking ahead, the story might be about to change.

First, good news. Ethereum's planned upgrades for 2026 will focus on scalability and security issues—especially the two upgrade projects "Glamsterdam" and "Hegota," which aim to decentralize block construction and reduce censorship risks. If these upgrades are successfully implemented, the network's attractiveness will significantly increase. What's even more interesting is the change in institutional attitude. Bitmine Immersion recently staked 74,880 ETH in one go, an investment equivalent to $219 million—this is not a move by small retail investors but a clear signal from major players using real capital to show their confidence in the long-term participation in the Ethereum network. From a broader perspective, this reflects a structural shift. Meanwhile, bullish voices are also emerging in the market. Many analysts have set ambitious target prices—short-term, by early 2026, reaching $7000-9000, and some even see $20,000 in the long run. The driving forces are mainly the wave of asset tokenization and Ethereum's core role as financial infrastructure.

But risks are also on the table. A whale trader recently opened a short position worth $58.6 million, signaling a clear bearish sentiment. More direct selling pressure comes from another major holder—over the past 11 days, a key holder has sold 35,605 ETH at an average price of $2914 per ETH, cashing out $103 million and converting it into USDC, clearly taking profits. The most peculiar contradiction is macro in nature: since November, whale accounts have accumulated a net increase of 4.8 million ETH, yet the price has fallen from $3300 to $2927—this indicates that institutional buying power has been absorbed by broader selling pressure, or that the market simply lacks catalysts capable of driving a rally. $BTC $ETH $BNB