Why are institutions pouring money into certain top public chain tokens? Many people can't understand this step. Clearly, there are short-term risks, so why not diversify into other coins? There's nothing mysterious behind this; it's all about抢位置—gaining the future voice and access rights in the financial market.

First, it's essential to understand a key point: the gameplay of institutions is fundamentally different from retail investors. We care about daily price fluctuations, while for them, this is just a cost of布局. Their risk tolerance, capital size, and investment cycle are on completely different levels. So don't just analyze the daily K-line chart; look at industry布局 and long-term收益.

The most direct signal is the actions of巨鲸. A mysterious large holder recently bought 46,000 ETH in one go, now holding 580,000 ETH, with an unrealized loss of $200 million, yet there’s no movement. During the same period, a certain mining-related address continuously accumulated over 38,000 ETH. This isn't following the trend; it's precise asset配置.

Why focus on Ethereum? Because in the eyes of institutions, it’s no longer just a crypto asset. Ethereum is currently the most丰富的去中心化应用 and the most完善的生态 public chain. DeFi, NFT, and future tokenized assets all rely on its support. Holding this kind of coin is essentially locking in the基础设施入场权 for the future生态. Whoever controls the most核心公链筹码 will hold the pricing power of the next round of金融基础设施.