ETH: Summary of discussions in the CoinAnk Chinese discussion group (21:00:10 ~ 22:00:10)

[Key Takeaways] 1. The spot price of ETH is $2039.76, while the contract price is slightly lower at $2038.79, indicating that the short-term contract price is close to the spot price. The price fell 1.11% in the past hour and rose 1.41% in the past four hours. The funding rate remains at 0.0035%, and the long/short ratio is 1.8852, indicating that the number of longs is nearly twice that of shorts, suggesting an overall bullish sentiment. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:32:57/#2122428; ref: window] 2. The total trading volume of ETH across the network reached $75.095 billion in the past 24 hours, with a total open interest of $19.531 billion. Open interest decreased by 1.14% in the past hour and increased by 4.18% in the past 24 hours, indicating a slight outflow of funds in the short term, but overall open interest is still increasing, indicating high market activity. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:32:57/#2122428; ref: window] 3. ETH main contract fund flow data shows significant differences over time periods. Short-term (5 minutes to 2 hours) contracts mostly show net inflows, especially the 2-hour contract with a fund flow as high as $279.57 million, indicating active short-term trading. However, periods of 8 hours and above show larger net outflows, with the 30-day contract experiencing a net outflow of $9.48 billion, reflecting a tendency for long-term funds to withdraw or take profits. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:27:50/#2122416; ref: window] 4. Spot fund flows maintained positive inflows in the short term, with 2.36M and 12.39M USD in 15-minute and 30-minute periods respectively. However, net outflows began from the 4-hour period, with a 30-day spot fund outflow reaching 496.72M USD, indicating strong buying support in the short term, but weakening buying support in the medium to long term. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:27:50/#2122416; ref: window] 5. ETH's market capitalization is approximately $246.145 billion, with a circulating supply of 120 million. The market encompasses the Ethereum ecosystem, layer-1, and smart contracts, indicating market focus on ETH's value attributes as a core asset of the Ethereum ecosystem and its smart contract platform. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:32:57/#2122428; ref: window] 6. The long/short ratio of 1.8852 indicates that bullish sentiment is significantly stronger than bearish sentiment. However, fluctuations in total open interest and trading volume suggest significant capital competition within the market. Frequent short-term capital inflows and outflows reflect differing opinions and dynamic adjustments among market participants regarding price trends. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:32:57/#2122428; ref: window] 7. Total open interest across the network increased by 4.18% in 24 hours, but decreased by 1.14% in the short term (1 hour). This indicates recent short-term profit-taking or position adjustments by market funds, but overall, a strong bullish stance on ETH remains. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:32:57/#2122428; ref: window] 8. From the perspective of contract fund flow cycle changes, the contrast between short-term fund inflows and long-term fund outflows may indicate active participation of short-term speculative funds, while long-term holding funds show a tendency towards profit-taking or risk aversion. [src: @CoinAnk Chinese Discussion Group, 2026-02-07 21:27:50/#2122416; ref: window] 【Key Clues Summary (Optional)】 - Active inflow of funds into ETH short-term contracts, and significant outflow of funds into long-term contracts. - The ratio of long to short positions shows a clear dominance of longs, but intense competition among funds. - Short-term fund inflows into the spot market, and a clear trend of medium- and long-term fund outflows. - Market funds show signs of profit-taking and position adjustments in the short term, but maintain an overall bullish attitude. - As the core asset of the Ethereum ecosystem, ETH has attracted market attention for its smart contract functionality and ecosystem value.