ETH: Summary of discussions in the CoinAnk Chinese discussion group (18:00:10 ~ 19:00:10)

[Analysis of Key Points] The ETH spot price was $2104.33 at 18:00, down 0.49% in one hour and up 0.94% in four hours, indicating some pullback and rebound in short-term price fluctuations. The funding rate was 0.0009%, and the long/short ratio was 1.681, indicating that long positions slightly outnumbered short positions, suggesting a relatively balanced market. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:00:41/#2125398; ref: window] The ETH contract price was largely in sync with the spot price. At 18:00, the contract price was $2103.42, with a -0.57% change in open interest within one hour and a 4.03% increase in open interest over 24 hours. This indicates a slight decrease in contract funds in the short term, but an overall increase in open interest, reflecting dynamic changes in trading activity and fund inflows. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:00:41/#2125398; ref: window] At 18:24, the ETH spot price fell to $2088.75, a change of -1.00% in one hour, and a slight increase of 0.07% in four hours. The funding rate dropped to 0.0007%, and the long/short ratio rose to 1.7027, indicating that short-term bullish sentiment in the market has strengthened. Despite the price pullback, overall open interest increased by 3.92% in the past 24 hours, indicating that capital inflows remain stable. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:24:13/#2125467; ref: window] ETH's total trading volume remained high at approximately 78.5 billion over the past 24 hours, with total open interest around 20 billion, indicating active market trading and a large capital scale. While open interest decreased slightly in the short term (-0.41% within 1 hour), the overall 24-hour growth reflects continued capital focus on the ETH futures market. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:24:13/#2125467; ref: window] ETH's market capitalization was approximately $253.7 billion at 18:00, decreasing to $251.8 billion at 18:24. Circulating supply remained stable at 120 million. The overall market size is large and relatively stable, indicating that market attention and liquidity for ETH remain at a high level. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:00:41/#2125398; ref: window] ETH belongs to sectors including Ethereum-ecosystem, Layer-1, and Smart Contracts, indicating that the market narrative continues to revolve around the core value of the Ethereum ecosystem and smart contract platform, with speculation still focused on its technological applications and ecosystem development. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:00:41/#2125398; ref: window] Short-term ETH price fluctuations are accompanied by minor adjustments in funding rates and changes in the long/short position ratio, reflecting traders' rapid reactions to price movements and dynamic adjustments in market sentiment. Short-term fund flows show a certain bullish tendency. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:24:13/#2125467; ref: window] ETH contract open interest showed a slight decrease within one hour, but increased over 24 hours, indicating that short-term traders may be adjusting their positions, while long-term investors continue to increase their holdings, suggesting a stratified market capital structure. [src: @CoinAnk Chinese Discussion Group, 2026-02-08 18:00:41/#2125398; ref: window] 【Key Clues Summary】 1. ETH price fluctuated slightly in the short term, with multiple price drops of approximately 0.5%-1% within one hour, and smaller price fluctuations over four hours. 2. Funding rates decreased slightly, reflecting a slight change in funding costs, indicating a relatively balanced market between bulls and bears. 3. The long/short position ratio remained in the 1.68-1.70 range, with bulls having a slight advantage. 4. Total open interest has been steadily increasing over the past 24 hours, indicating a generally positive trend in capital inflows. 5. Market trading is active, with a 24-hour turnover approaching 78.5 billion, demonstrating a massive scale of funds. 6. The ETH narrative focuses on the Ethereum ecosystem and smart contract applications, indicating a stable speculative trend.