$ETH The deflationary effect of the Cancun upgrade has finally emerged. Although the price performance is disappointing, on-chain data has begun to show explosive growth.[conversation_history]
## Market Insights
The Cancun upgrade has strengthened ETH's deflationary mechanism, accelerating supply reduction and driving long-term value. On-chain activity has surged, with trading volume and user metrics indicating strong network vitality.[1]
## Trading Tips
- **Buy Signal**: Pay attention to the explosive growth on-chain as a bottom confirmation.
- **Risk**: Short-term price volatility is high; it is recommended to operate in conjunction with technical indicators.
- **Outlook**: Deflation + on-chain prosperity indicates a significant rebound potential for ETH.
This content is suitable for Binance Square original Chinese publication, highlighting the impact of the upgrade and data turning point
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