#稳定币市场 After reviewing Ethereum's 2025 performance report, the most heartbreaking statement is: stablecoin trading volume reaches $46 trillion, with Ethereum accounting for 54% of the market share. What does this mean? It indicates that real money is flowing, not just hype. Institution-level applications are being implemented—traditional financial giants like JPMorgan and BlackRock are no longer spectators; they are directly launching products on the mainnet. Stablecoin supply has surpassed $300 billion, and the annual trading volume at this scale is already formidable. For copy trading strategies, this is a signal: the liquidity depth in the stablecoin market is qualitatively improving, which means the slippage risk for large-volume copy trades is gradually decreasing. The maturity of Layer2 is another key factor. Infrastructure has been improved, transaction fees have decreased, and truly effective trading strategies can now be revealed. Previously, traders barely breaking even under high gas fees now need to adjust their strategies, or their advantages are being eroded. At this point, choosing copy targets must be more cautious—it's about who can maintain stable returns in a low-cost environment, rather than just profiting from market chaos during gas surges. DeFi locking assets at $93.9 billion, Uniswap's annual trading volume surpassing $1 trillion—good news is liquidity is abundant; bad news is competition is intensifying. To achieve stable profits, differentiation in style is the moat. The current strategy should be diversifying into different top traders with various styles, rather than putting all eggs in one basket. Infrastructure upgrades mean risk management must also be upgraded.

CoinVoice has learned that, according to Coinglass data, in the past 24 hours, the total liquidations across the entire network reached $287 million, with long positions liquidated at $241 million and short positions at $46.3 million. Among them, Bitcoin long positions were liquidated at $60.76 million, Bitcoin short positions at $9.488 million, Ethereum long positions at $73.82 million, and Ethereum short positions at $8.336 million. Additionally, in the last 24 hours, a total of 99,555 people worldwide were liquidated, with the largest single liquidation occurring at Hyperliquid - BTC-USD valued at $3.6396 million.

Ethereum on the four-hour chart has clearly faced resistance after hitting the upper Bollinger Band, then shifted to a downward trend. The current price has broken through and penetrated the middle band support, with the trading center continuously moving downward, gradually approaching the lower band. Meanwhile, the Bollinger Bands are converging downward overall, indicating that the bearish momentum is dominant. All technical indicators are weakening simultaneously, and the trend direction is biased bearish. In terms of strategy, focus on shorting opportunities during the rebound to the 3170–3190 zone this morning, with the lower target looking towards the 3100–3070 range.