#数字资产生态回暖 On-chain whale movements are often more worth watching than keyboard warriors' analysis.

A few days ago, while monitoring the market, I noticed a large holder with an address starting with 0xb31 making a big move on Ethereum—buying at an average price of $3,108 and opening a $268 million long position with 5x leverage. Now, the unrealized profit has exceeded $17 million.

What does this indicate? Whales are willing to stake such large chips at this level and use such high leverage, which essentially shows confidence in the upcoming market trend. Combined with the recent increase in activity within the Ethereum ecosystem, on-chain liquidity improvement, and a warming macro attitude towards crypto assets, this is definitely not a gambling-level operation.

I've always said—on-chain data can't be fooled.

I mentioned before that $ETH is gathering strength in the $3000 to $3200 range. Once trading volume ramps up, leveraged funds will follow suit and push prices higher. The current market trend is just validating this logic. Short-term fluctuations don't need to be overemphasized; once the real trend begins, the pullback space is usually quite limited.

However, I must emphasize one point: high leverage is like a double-edged sword; it can amplify gains but also losses. If you're participating, make sure to control your position sizes and avoid being blinded by short-term volatility.

Ultimately, the market rewards those who understand the data and trust the logic. The Ethereum story is just beginning. Hold your chips firmly and keep an eye on the subsequent movements.