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src=\"https:\/\/hx24-prod.mars-block.com\/image\/crawler\/2025\/08\/25\/1756091663953906.jpg\"><\/p>\n<p>\u800c\u672c\u6b21\u5de8\u9cb8\u6362\u4ed3\uff0c\u6070\u6070\u662f\u8fd9\u4e00\u7406\u8bba\u7684\u5b8c\u7f8e\u73b0\u5b9e\u6f14\u7ece\u3002\u4f46\u5b83\u6bd4\u7406\u8bba\u66f4\u8fdb\u4e86\u4e00\u6b65\uff0c\u5b83\u544a\u8bc9\u4e86\u6211\u4eec\uff0c\u8fd9\u4e9b\u201c\u8fdc\u53e4\u629b\u538b\u201d\u8f6c\u5316\u6210\u7684\u5de8\u989d\u6d41\u52a8\u6027\uff0c\u5e76\u6ca1\u6709\u9003\u79bb\u5e02\u573a\uff0c\u800c\u662f\u9009\u62e9\u4e86\u4ee5\u592a\u574a\u4f5c\u4e3a\u65b0\u7684\u201c\u84c4\u6c34\u6c60\u201d\u3002\u8fd9\u5f62\u6210\u4e86\u4e00\u4e2a\u9c9c\u660e\u7684\u5bf9\u6bd4\uff1a<\/p>\n<ul>\n<li><strong>\u6bd4\u7279\u5e01\u7aef<\/strong>\uff1a\u8fdc\u53e4\u4f9b\u5e94\u88ab\u6fc0\u6d3b\uff0c\u5f62\u6210\u6301\u7eed\u629b\u538b\uff0c\u5e02\u573a\u9700\u8981\u4e0d\u65ad\u6d88\u5316\u201c\u5386\u53f2\u5305\u88b1\u201d\u3002<\/li>\n<li><strong>\u4ee5\u592a\u574a\u7aef<\/strong>\uff1a\u5438\u7eb3\u4e86\u6765\u81ea\u6bd4\u7279\u5e01\u751f\u6001\u7684\u5de8\u989d\u5b58\u91cf\u8d44\u91d1\uff0c\u5e76\u7acb\u5373\u901a\u8fc7\u8d28\u62bc\u5c06\u5176\u8f6c\u5316\u4e3a\u7f51\u7edc\u7684\u201c\u62a4\u57ce\u6cb3\u201d\uff0c\u51cf\u5c11\u4e86\u5e02\u573a\u6d41\u901a\u91cf\u3002<\/li>\n<\/ul>\n<p>\u8fd9\u79cd\u201c\u4e00\u51fa\u4e00\u8fdb\u201d\u7684\u52a8\u6001\uff0c\u662fETH\/BTC\u6c47\u7387\u8d70\u5f3a\u7684\u6700\u76f4\u63a5\u3001\u6700\u786c\u6838\u7684\u89e3\u91ca\u3002<\/p>\n<h3><\/h3>\n<h3><strong>\u4e8c\u3001 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Terminal\u6570\u636e\u663e\u793a\uff0cUSDC\u5728\u4ee5\u592a\u574a\u4e0a\u7684\u4f7f\u7528\u91cf\u5df2\u8fbe\u5386\u53f2\u65b0\u9ad8\uff0c\u6708\u8f6c\u8d26\u989d\u8fd17500\u4ebf\u7f8e\u5143\uff0c\u89c4\u6a21\u582a\u6bd4\u5927\u578b\u94f6\u884c\u7cfb\u7edf\u3002\u8fd9\u63ed\u793a\u4e86\u4ee5\u592a\u574a\u7684\u6838\u5fc3\u4ef7\u503c\u4e3b\u5f20\u4e4b\u4e00\uff1a\u5b83\u6b63\u5728\u6210\u4e3a\u5168\u7403\u6570\u5b57\u7f8e\u5143\u7ecf\u6d4e\u7684\u5e95\u5c42\u7ed3\u7b97\u7f51\u7edc\u3002\u6bcf\u4e00\u7b14\u7a33\u5b9a\u5e01\u7684\u8f6c\u8d26\u3001\u6bcf\u4e00\u6b21DeFi\u7684\u4ea4\u4e92\uff0c\u90fd\u9700\u8981\u6d88\u8017ETH\u4f5c\u4e3aGas\u8d39\uff0c\u5e76\u901a\u8fc7EIP-1559\u673a\u5236\u9500\u6bc1\u4e00\u90e8\u5206\u3002\u8fd9\u79cd\u57fa\u4e8e\u201c\u771f\u5b9e\u7ecf\u6d4e\u6d3b\u52a8\u201d\u7684\u9700\u6c42\uff0c\u4e3aETH\u63d0\u4f9b\u4e86\u575a\u5b9e\u7684\u4ef7\u503c\u652f\u6491\uff0c\u4f7f\u5176\u4e0d\u518d\u4ec5\u4ec5\u662f\u6295\u673a\u5de5\u5177\u3002<\/li>\n<li><strong>\u201c\u8d85\u58f0\u6ce2\u8d27\u5e01\u201d\u7684\u901a\u7f29\u53d9\u4e8b<\/strong>\uff1a\u5728\u8d28\u62bc\u9501\u5b9a\u548cGas\u8d39\u71c3\u70e7\u7684\u53cc\u91cd\u4f5c\u7528\u4e0b\uff0c\u4ee5\u592a\u574a\u7684\u51c0\u53d1\u884c\u91cf\u5728\u7f51\u7edc\u7e41\u5fd9\u65f6\u4f1a\u53d8\u4e3a\u8d1f\u6570\uff0c\u8fdb\u5165\u901a\u7f29\u3002\u8fd9\u79cd\u201c\u8d8a\u7528\u8d8a\u5c11\u201d\u7684\u8d27\u5e01\u6a21\u578b\uff0c\u5373\u201c\u8d85\u58f0\u6ce2\u8d27\u5e01\u201d\uff08Ultrasound Money\uff09\uff0c\u4e3a\u5176\u63d0\u4f9b\u4e86\u6bd4\u80a9\u6bd4\u7279\u5e01\u201c\u6570\u5b57\u7a00\u7f3a\u6027\u201d\u7684\u5168\u65b0\u4ef7\u503c\u53d9\u4e8b\uff0c\u4e14\u8fd9\u79cd\u7a00\u7f3a\u6027\u662f\u52a8\u6001\u7684\u3001\u4e0e\u751f\u6001\u7e41\u8363\u5ea6\u6b63\u76f8\u5173\u7684\u3002<\/li>\n<\/ol>\n<p>\u8fd9\u4e09\u5927\u5f15\u64ce\u76f8\u4e92\u4fc3\u8fdb\uff0c\u5f62\u6210\u4e86\u5f3a\u5927\u7684\u201c\u751f\u6001\u98de\u8f6e\u201d\uff1a\u751f\u6001\u8d8a\u7e41\u8363 -&gt; Gas\u6d88\u8017\u548c\u8d28\u62bc\u9700\u6c42\u8d8a\u9ad8 -&gt; ETH\u901a\u7f29\u8d8a\u5f3a\u3001\u4f9b\u5e94\u8d8a\u7d27 -&gt; \u5e01\u4ef7\u9884\u671f\u4e0a\u6da8 -&gt; \u5438\u5f15\u66f4\u591a\u8d44\u91d1\u548c\u5efa\u8bbe\u8005\u8fdb\u5165\u751f\u6001\uff0c\u5faa\u73af\u5f80\u590d\u3002<\/p>\n<h3><\/h3>\n<h3><strong>\u4e09\u3001 \u5b8f\u89c2\u4e4b\u98ce\uff1a<\/strong><strong>Arthur Hayes<\/strong><strong>\u768413\u4e07\u4ebf\u7a33\u5b9a\u5e01\u9884\u8a00<\/strong><\/h3>\n<p>\u5982\u679c\u8bf4\u5de8\u9cb8\u6362\u4ed3\u662f\u6218\u672f\u5c42\u9762\u7684\u4fe1\u53f7\uff0c\u4ee5\u592a\u574a\u7684\u751f\u6001\u98de\u8f6e\u662f\u6218\u7565\u5c42\u9762\u7684\u57fa\u7840\uff0c\u90a3\u4e48\u524dBitMEX\u8054\u5408\u521b\u59cb\u4ebaArthur 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