Orange Evening Interpretation 7.17 The E-type bloodline has finally awakened, ETH has taken off continuously in the past few days, since breaking through 3100 points, there have been a large number of main changes in the market, the more typical is that E Lihua has become Lihua, his Trend Research shipped 7w ETH in one breath last night, claiming to be reducing leverage, I understand that the deleveraging is the slow sale of Sister Wood, and this goods are directly out of a small and half position There is no doubt that he saw the top; Another trader Eugene, who is also active in this round of price comparison, posted last night that Ethereum has started selling points and is reducing positions, and said that most tokens need to be pulled back; Then argot, the development organization that got 7,000 ETH donations from the ETH Foundation, also threw them away, and there are some swing whales, basically reducing their positions from last night to today, and in summary, ETH holders in the native currency circle are selling. And who are the buyers of this round, first of all, ETFs, yesterday the overall inflow of ETFs exceeded 700 million dollars, BlackRock alone was 500 million dollars, BlackRock bought even more than the pie last night, which is a sample for institutional investors, just like we play the chain retail investors will track what the front of the car buys, in fact, BlackRock is the leader of medium and large institutions, and it is expected that the amount of funds following the follow-up will not be too small; Then there is the Ethereum treasury such as SBET BMNR, SBET raised 413 million dollars last week should be stud in, last night SBET's share price directly exploded by more than 30%, this increase is at a premium compared to ETH, indicating that the stock market is more sufficient, SBET has become the ETH version of the micro strategy; Another is Trump's WLFI, which continued to cover the position last night, and now eth holds more than 6 percent, after this wave of gains, WLFI has made money, and WLFI tokens have been voted to circulate to the market, and the hot money lying on the stomach in the market will also be activated; In addition, my friends in the traditional financial circle have begun to pay attention to Ethereum, some friends who do family offices revealed that their main business this month is to find OTC merchants of ETH to help customers reserve large amounts of ETH, this afternoon the largest market maker in the currency circle The founder of wintermute posted that the OTC platform it provides to institutions and large investors, there is almost no ETH available for sale on the market, after the news was issued, Ether directly broke through 3400, and the trend is going to hit 3500, OTC funds are not anxious about the high cost of buying, OTC can not be bought, it will naturally be rushed according to the secondary market price, now ETH is so scarce, it is strange that funds do not enter the market. Of course, I am not optimistic that this wave of ETH will directly break through the previous high of 4800, the 1300-point spread is not enough to buy and buy with over-the-counter funds alone, in the past, Ethereum was driven by double flywheels, stable and safe to attract over-the-counter funds, and in the field, ETH undertakes a large number of applications and financial services, resulting in the fact that ETH is deflationary, because of the large use and burning of gas fees, the consumption of ETH is more than the output, and now even if ETH leads the entire market, But today's gas fee is still about 1, which is still very big compared to the usual congestion gap in the past, indicating that the on-chain activities are still not up, not to mention the deflation of ETH, you must know that the total amount of ETH is unlimited, if no one uses this chain, then it means that ETH is not scarce at all, which will make it difficult for institutions to make the reserve ETH really the same as BTC, after all, the total amount of BTC is fixed means eternal storage value, and Ethereum can only be used as a stage of storage value, Therefore, whether it can ATH depends on whether the ETH ecology can regain its vigor in the future. In terms of other copycats, Ethereum has been used as a copycat bull market engine for too long, and many coins have been brought up because of inertia, but there are very few copycats that can really outperform ETH in this wave, and there are only $crv $cvx in DEFI This wave has kept up, and the other leaders have not yet improved, and the trend of star meme is still the strongest, especially $bonk has taken into account the attributes of meme and Taizi coin, which has risen by more than 70% in the last seven days, $floki $mew $fartcoin $ cheems $neiro $popcat These single-day gains are close to 20%, absolutely outperforming the market, the AI sector trend is also good, $kaito $virtual have also outperformed ETH, and other projects without a plate level have obvious markets, in terms of new memes, $ani has doubled again today, FDV reached 72M, there is a trend to become a new blue-chip meme, and then the other two memes of grok $rudi 12M, $ Valentine has rushed to a maximum of 30m, and this wave of market has also allowed us to discover the law, Musk changes his name, changes his avatar or interacts with others The upper limit of the meme is very low, and the life span is also very short, but because of Tesla, SpaceX, XAI and other memes derived from his own products, this energy level is much higher, and it is very likely that there will be a blue-chip big golden dog, and you will have to pay attention to it in the future. Can't miss it.