{"id":858,"date":"2025-03-31T17:29:19","date_gmt":"2025-03-31T09:29:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=858"},"modified":"2025-03-31T17:29:19","modified_gmt":"2025-03-31T09:29:19","slug":"glassnode-coinbase-%ef%bc%9a2024%e5%b9%b4q3%e5%8a%a0%e5%af%86%e8%b4%a7%e5%b8%81%e5%b8%82%e5%9c%ba%e6%8c%87%e5%8d%97","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=858","title":{"rendered":"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357"},"content":{"rendered":"<p>\u6211\u4eec\u5f88\u9ad8\u5174\u53d1\u5e03\u6211\u4eec\u5b63\u5ea6\u7cfb\u5217\u7684\u7b2c\u4e09\u7248\u300a\u52a0\u5bc6\u5e02\u573a\u6307\u5357\u300b\uff0c\u8fd9\u662f\u4e0e Coinbase Institutional \u5408\u4f5c\u5236\u4f5c\u7684\u3002\u8fd9\u4efd\u62a5\u544a\u5bf9\u6bcf\u4e2a\u5b63\u5ea6\u52a0\u5bc6\u5e02\u573a\u7684\u5173\u952e\u53d1\u5c55\u8fdb\u884c\u4e86\u6df1\u5165\u5206\u6790\uff0c\u5305\u62ec\u4ef7\u683c\u8868\u73b0\u3001\u94fe\u4e0a\u5206\u6790\u3001\u884c\u4e1a\u4e8b\u4ef6\u548c\u884d\u751f\u54c1\u6570\u636e\u3002<\/p>\n<p>\u4e0e\u4e4b\u524d\u7684\u7248\u672c\u4e00\u6837\uff0c\u6211\u4eec\u7684\u76ee\u6807\u662f\u901a\u8fc7\u57fa\u4e8e\u94fe\u4e0a\u6570\u636e\u7684\u53ef\u64cd\u4f5c\u6d1e\u5bdf\uff0c\u4e3a\u673a\u6784\u4ea4\u6613\u8005\u548c\u6295\u8d44\u8005\u63d0\u4f9b\u5bf9\u6570\u5b57\u8d44\u4ea7\u5e02\u573a\u7684\u66f4\u597d\u7406\u89e3\u3002\u672c\u7248\u4fa7\u91cd\u4e8e\u4e09\u4e2a\u4e3b\u8981\u6d1e\u5bdf\uff1a\u94fe\u4e0a\u6d3b\u52a8\u7684\u8fc5\u901f\u589e\u52a0\u3001ETF \u7684\u53d8\u9769\u6027\u5f71\u54cd\u4ee5\u53ca\u5bf9\u5f53\u524d\u5e02\u573a\u5468\u671f\u7684\u5206\u6790\u3002<\/p>\n<p>\u5173\u952e\u4eae\u70b9\uff1a<\/p>\n<p>\u5e02\u573a\u5468\u671f\u7684\u8bc4\u4f30\uff1a\u52a0\u5bc6\u5e02\u573a\u4ee5\u5176\u72ec\u7279\u7684\u6da8\u8dcc\u5468\u671f\u8457\u79f0\u3002\u6700\u65b0\u6570\u636e\u663e\u793a\uff0c\u5c3d\u7ba1\u7b2c\u4e8c\u5b63\u5ea6\u6709\u6240\u56de\u843d\uff0c\u6211\u4eec\u53ef\u80fd\u5904\u4e8e\u81ea 2022 \u5e74\u5e95\u5f00\u59cb\u7684\u5f53\u524d\u725b\u5e02\u5468\u671f\u7684\u4e2d\u671f\u3002\u5386\u53f2\u6a21\u5f0f\u8868\u660e\uff0c\u8fd9\u79cd\u8c03\u6574\u662f\u5178\u578b\u7684\uff0c\u4e0e\u4ee5\u5f80\u7684\u5e02\u573a\u884c\u4e3a\u4e00\u81f4\u3002<\/p>\n<p>ETF \u6539\u53d8\u4e86\u683c\u5c40\uff1a\u73b0\u8d27\u6bd4\u7279\u5e01 ETF \u5728\u516d\u4e2a\u6708\u5185\u79ef\u7d2f\u4e86\u8fd1 500 \u4ebf\u7f8e\u5143\u7684\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\uff08AUM\uff09\uff0c\u5438\u5f15\u4e86\u65b0\u6295\u8d44\u8005\u5e76\u52a0\u6df1\u4e86\u5e02\u573a\u6d41\u52a8\u6027\u3002ETF \u5f15\u5165\u4e86\u4e00\u79cd\u53d7\u76d1\u7ba1\u4e14\u719f\u6089\u7684\u6295\u8d44\u5de5\u5177\uff0c\u8865\u5145\u4e86\u73b0\u6709\u7684\u9009\u62e9\uff0c\u5bf9\u6574\u4e2a\u52a0\u5bc6\u751f\u6001\u7cfb\u7edf\u4ea7\u751f\u4e86\u79ef\u6781\u5f71\u54cd\u3002<\/p>\n<p>\u94fe\u4e0a\u6d3b\u52a8\u5feb\u901f\u589e\u52a0\uff1a\u5728\u8fc7\u53bb\u516d\u4e2a\u6708\u4e2d\uff0c\u5404\u79cd\u6307\u6807\u5982\u603b\u9501\u4ed3\u4ef7\u503c\uff08TVL\uff09\u3001\u6d3b\u8dc3\u5730\u5740\u548c\u7528\u6237\u57fa\u7840\u89c4\u6a21\u663e\u793a\u51fa\u94fe\u4e0a\u6d3b\u52a8\u7684\u663e\u8457\u589e\u957f\u3002\u8fd9\u79cd\u6fc0\u589e\u7531\u5404\u79cd\u7528\u4f8b\u63a8\u52a8\uff0c\u5305\u62ec\u501f\u4ee3\u3001\u8d28\u62bc\u548c\u4ea4\u6613\u3002\u968f\u7740\u73b0\u6709\u7528\u4f8b\u7684\u6210\u719f\u548c\u65b0\u521b\u65b0\u7684\u51fa\u73b0\uff0c\u9884\u8ba1\u94fe\u4e0a\u91c7\u7528\u5c06\u8fdb\u4e00\u6b65\u589e\u957f\u3002<\/p>\n<p><strong>1\u3001\u7b2c\u4e09\u5b63\u5ea6\u7684\u5173\u952e\u8d8b\u52bf<\/strong><\/p>\n<p>\u4ee5\u4e0b\u662f\u8fc7\u53bb\u4e00\u4e2a\u5b63\u5ea6\u4e2d\u503c\u5f97\u4ece\u6295\u8d44\u8005\u89d2\u5ea6\u5173\u6ce8\u7684\u4e00\u4e9b\u8d8b\u52bf\uff1a<\/p>\n<p><strong>1\uff09\u6295\u8d44\u8005\u76c8\u5229\u8d8b\u52bf\u4e0e MVRV<\/strong><\/p>\n<p>MVRV \u52a8\u91cf\u662f\u4e00\u4e2a\u6709\u52a9\u4e8e\u5206\u6790\u5e08\u76d1\u6d4b\u5e02\u573a\u8d8b\u52bf\u7684\u5de5\u5177\u3002\u5b83\u901a\u8fc7\u8ffd\u8e2a\u6295\u8d44\u8005\u6301\u6709\u7684\u672a\u5b9e\u73b0\u5229\u6da6\u500d\u6570\uff08MVRV\uff09\u76f8\u5bf9\u4e8e\u5176 365 \u5929\u79fb\u52a8\u5e73\u5747\u7ebf\u7684\u53d8\u5316\u6765\u8fdb\u884c\u5206\u6790\u3002<\/p>\n<p>\u5f53 MVRV \u4ea4\u6613\u9ad8\u4e8e\u5176 365 \u5929\u5747\u503c\u65f6\uff0c\u901a\u5e38\u8868\u660e\u5f3a\u52b2\u7684\u4e0a\u5347\u8d8b\u52bf\u548c\u6295\u8d44\u8005\u76c8\u5229\u80fd\u529b\u6539\u5584\uff0c\u5f80\u5f80\u5bfc\u81f4\u5728\u5e02\u573a\u8c03\u6574\u671f\u95f4\u589e\u52a0\u5934\u5bf8\u3002\u76f8\u53cd\uff0c\u5f53 MVRV \u8dcc\u7834 365 \u5929\u5747\u503c\u65f6\uff0c\u5f80\u5f80\u9884\u793a\u7740\u663e\u8457\u7684\u672a\u5b9e\u73b0\u635f\u5931\uff0c\u589e\u52a0\u4e86\u4e0d\u786e\u5b9a\u6027\u548c\u907f\u9669\u51b3\u7b56\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818267242.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818267242.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><\/figure>\n<p>\u5728\u4e03\u6708\u521d\uff0cMVRV \u6bd4\u7387\u5728\u5176 365 \u5929\u79fb\u52a8\u5e73\u5747\u7ebf\u9644\u8fd1\u627e\u5230\u652f\u6491\uff0c\u8868\u660e 2024 \u5e74\u7684\u4e0a\u5347\u8d8b\u52bf\u4ecd\u7136\u4fdd\u6301\u5b8c\u6574\uff0c\u5e76\u5e26\u6765\u79ef\u6781\u7684\u6295\u8d44\u8005\u76c8\u5229\u80fd\u529b\u3002<\/p>\n<p><strong>2\u3001BTC \u5468\u671f\u8868\u73b0\u548c\u56de\u64a4<\/strong><\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818275994.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818275994.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><\/figure>\n<p>\u81ea 2022 \u5e74\u672b\u5f00\u59cb\u7684\u5f53\u524d\u725b\u5e02\u4e2d\uff0c\u6bd4\u7279\u5e01\u4ef7\u683c\u4e0a\u6da8\u4e86 400%\u3002\u5728 FTX \u5d29\u76d8\u4e4b\u540e\uff0c\u6bd4\u7279\u5e01\u7ecf\u5386\u4e86\u6301\u7eed 18 \u4e2a\u6708\u7684\u7a33\u5b9a\u4ef7\u683c\u4e0a\u6da8\uff0c\u8fbe\u5230\u4e86 73000 \u7f8e\u5143\u7684\u5386\u53f2\u6700\u9ad8\u4ef7\u3002\u968f\u540e\uff0c\u5e02\u573a\u8fdb\u5165\u4e86\u4e00\u4e2a\u6301\u7eed\u4e09\u4e2a\u6708\u7684\u533a\u95f4\u9707\u8361\u9636\u6bb5\uff0c\u968f\u540e\u51fa\u73b0\u4e86 -26% \u7684\u56de\u64a4\u3002<\/p>\n<p>\u8fd9\u6b21\u4e0b\u8dcc\u8d8b\u52bf\u8f83\u4e4b\u524d\u7684\u5468\u671f\u66f4\u4e3a\u5e73\u7f13\uff0c\u8868\u660e\u5e02\u573a\u7ed3\u6784\u5f3a\u52b2\uff0c\u6ce2\u52a8\u6027\u964d\u4f4e\u30022023-24 \u5468\u671f\u4e0e 2018-21 \u548c 2015-17 \u5468\u671f\u76f8\u4f3c\uff0c\u4e3a\u5468\u671f\u7ed3\u6784\u548c\u6301\u7eed\u65f6\u95f4\u63d0\u4f9b\u4e86\u5b9d\u8d35\u7684\u89c1\u89e3\u3002<\/p>\n<p><strong>1\uff09\u6bd4\u7279\u5e01\u73b0\u8d27 ETF \u4f59\u989d<\/strong><\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818284111.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818284111.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><\/figure>\n<p>\u8ddf\u8e2a\u7f8e\u56fd\u524d\u5341\u5927\u4ea4\u6613\u7684\u6bd4\u7279\u5e01 ETF \u7684\u4f59\u989d\u53ef\u4ee5\u4e86\u89e3\u8d44\u91d1\u6d41\u5165\u8fd9\u4e9b\u4ea7\u54c1\u7684\u60c5\u51b5\u3002\u73b0\u8d27\u6bd4\u7279\u5e01 ETF \u53d6\u5f97\u4e86\u7a7a\u524d\u7684\u6210\u529f\uff0c\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u8d85\u8fc7 500 \u4ebf\u7f8e\u5143\uff0c\u4f7f\u5176\u6210\u4e3a\u5386\u53f2\u4e0a\u6700\u6210\u529f\u7684 ETF \u53d1\u884c\u3002<\/p>\n<p>\u81ea\u5b83\u4eec\u63a8\u51fa\u4ee5\u6765\uff0cETF \u7684\u8d44\u91d1\u6d41\u5165\u4e5f\u663e\u8457\u8d85\u8fc7\u4e86\u6bd4\u7279\u5e01\u7684\u65b0\u53d1\u884c\u91cf\uff0c\u521b\u9020\u4e86\u5de8\u5927\u7684\u9700\u6c42\u3002\u8fd9\u79cd\u589e\u52a0\u7684\u9700\u6c42\u63a8\u52a8\u4e86\u73b0\u8d27\u548c\u884d\u751f\u54c1\u5e02\u573a\u7684\u4ea4\u6613\u91cf\u4e0a\u5347\u3002<\/p>\n<p><strong>2\uff09\u6bd4\u7279\u5e01\u671f\u8d27\u4ea4\u6613\u91cf\u548c\u6301\u4ed3\u91cf<\/strong><\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818292393.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/08\/5-1722818292393.png\" alt=\"Glassnode &amp; Coinbase \uff1a2024\u5e74Q3\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6307\u5357\" \/><\/figure>\n<p>\u6bd4\u7279\u5e01\u671f\u8d27\u7684\u4ea4\u6613\u91cf\u548c\u6301\u4ed3\u91cf\u5927\u5e45\u4e0a\u5347\u3002\u4f20\u7edf\u671f\u8d27\u548c\u6c38\u7eed\u671f\u8d27\u90fd\u663e\u793a\u51fa\u53c2\u4e0e\u5ea6\u548c\u6d41\u52a8\u6027\u7684\u589e\u52a0\uff0c\u53cd\u6620\u4e86\u5bf9\u6bd4\u7279\u5e01\u884d\u751f\u54c1\u65e5\u76ca\u589e\u957f\u7684\u5174\u8da3\u3002<\/p>\n<p>\u8981\u6df1\u5165\u63a2\u8ba8\u8fd9\u4e9b\u548c\u5176\u4ed6\u4e3b\u9898\uff0c\u589e\u5f3a\u60a8\u7684\u6570\u5b57\u8d44\u4ea7\u6295\u8d44\u7b56\u7565\uff0c\u8bf7\u67e5\u770b 2024 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u300a\u52a0\u5bc6\u5e02\u573a\u6307\u5357\u300b\u7684\u5b8c\u6574\u7248\u672c\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6211\u4eec\u5f88\u9ad8\u5174\u53d1\u5e03\u6211\u4eec\u5b63\u5ea6\u7cfb\u5217\u7684\u7b2c\u4e09\u7248\u300a\u52a0\u5bc6\u5e02\u573a\u6307\u5357\u300b\uff0c\u8fd9\u662f\u4e0e Coinbase Institutional \u5408\u4f5c [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-858","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts\/858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=858"}],"version-history":[{"count":1,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts\/858\/revisions"}],"predecessor-version":[{"id":2511,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts\/858\/revisions\/2511"}],"wp:attachment":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=858"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}