#以太坊投资机会 Two interesting signals have been observed: first, the on-chain trend of whales continuously buying ETH indeed exists; such large transactions often represent institutional risk assessments; second, although Nansen CEO’s statement is somewhat emotional, it hits the core issue—complacency within the Ethereum community is weakening its competitiveness.

From an on-chain data perspective, the current buy consensus in the ETH price range essentially reflects a re-pricing of risk-reward ratios. Whale movements usually lead the market by 2-4 weeks, and sustained accumulation during this phase is worth paying attention to. However, it must be clarified that forming consensus ≠ increasing certainty; it more reflects a probabilistic advantage.

What truly needs to be tracked is the subsequent capital flow—if institutional buying is supported by stable liquidity, then the sustainability of this consensus can be validated. Conversely, if it’s merely emotional buildup without actual on-chain backing, the rebound height will be limited. It is recommended to focus on monitoring exchange inflow and outflow data and large contract movements, as these are more indicative than market sentiment.