贵金属市场大跌。 当地时间12月29日（周一），美股三大股指集体收跌，截至收盘，标普500指数跌0.35%，纳指跌0.5%，道指跌0.51%。 国际贵金属大幅收跌，COMEX黄金期货跌4.45%；COMEX白银期货跌7.2%。现货黄金大跌超4%，现货白银大跌近9%，现货钯金跌超15%，现货铂金跌 超14%。 英伟达完成收购50亿美元英特尔股票交易 大型科技股多数下跌，特斯拉跌超3%，超微电脑、安森美半导体、戴尔科技、英伟达跌超1%，高通、博通、META、阿斯麦、台积电、奈飞、亚马逊、 微软小幅下跌；美光科技涨超3%，易趣涨近3%，英特尔涨超1%，超威半导体、ARM、苹果、谷歌-A小幅上涨。 英伟达收跌1.21%。该公司周一发布公告称，已按照9月达成的协议完成对英特尔价值50亿美元的股票收购。英伟达曾在9月宣布将以每股23.28美元的价格 收购英特尔普通股。 英伟达在周一的公告中指出，本次交易以私募配售形式进行，其已按照9月协议约定的价格，购入超2.147亿股英特尔股票。 博通收跌0.78%。据一名参与谈判的人士透露，微软正与博通洽谈合作设计未来的定制芯片，若合作达成，微软将从当前的定制芯片供应商Marvell ...

Core Insights - The article highlights a significant increase in Ethereum holdings by institutional investors, with a total of 2.2 million ETH accumulated in just two months, representing 1.8% of the total supply [1][2] - This trend indicates a shift in the capital allocation of traditional companies towards crypto assets, raising concerns about supply concentration [1][2] Group 1: Institutional Accumulation - Institutional investors have significantly increased their Ethereum holdings, with major players like Bitmine Immersion Technologies and SharpLink Gaming leading the charge [1] - The current accumulation surpasses the net issuance of ETH since the Ethereum merge in September 2022, which was 454,300 ETH [1] - 29% of ETH is currently staked in the consensus layer, and 8.9% is locked in smart contracts, intensifying the competition for the remaining circulating supply [1] Group 2: On-chain Strategies - Unlike traditional Bitcoin reserves, Ethereum treasuries are actively deploying on-chain strategies, such as staking and leveraging DeFi protocols [2] - SharpLink Gaming has staked a significant portion of its holdings, while BTCS Inc. is utilizing RocketPool for yield generation [2] - The estimated annual yield for these treasuries could reach $79 million, based on a current ETH price of $4,000 and a 30% staking rate [2] Group 3: Market Impact - The influx of treasury funds has enhanced liquidity, increasing the depth of ETH lending pools on platforms like Aave by 17% [5] - Ethereum's mainnet has seen a surge in daily transaction volume, surpassing 1.9 million transactions, marking a historical peak [5] - Despite the increase in transaction volume, gas fees remain low due to Layer 2 scaling solutions [5] Group 4: Risks and Challenges - The concentration of ETH holdings by institutional treasuries poses risks to the on-chain ecosystem, as financial volatility could lead to significant sell-offs [5] - Companies utilizing equity financing to acquire ETH may expose their capital structure vulnerabilities if their market value to ETH holding ratio remains below 1 [5] Group 5: Evolving Market Dynamics - The rise of Ethereum treasuries signifies a new paradigm in capital entering the blockchain ecosystem, with these "on-chain whales" acting as both builders and potential disruptors [7] - Transparency and risk isolation are critical, as highlighted by XBIT's design of multi-signature cold wallet architecture to separate user assets from treasury risks [7] - The increasing number of ETH spot ETF applications indicates a complex interplay between traditional finance and on-chain treasuries, suggesting that the true test for decentralized finance is just beginning [7]