兰亭-阿萍
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Ethereum breaks through $4300, creating a nearly 4-year high!
From August 9 to 11, the price of Ethereum (ETH) repeatedly broke through the $4300 mark, reaching a new high since December 2021. On August 9, ETH effortlessly surpassed the highest point of $4100 since 2024 and surged to $4300, peaking at $4332. On August 10, the trading price of Ethereum once broke through $4300, and as of 1:30 PM that day, Ethereum reported $4224.67, up 1.1% in the past 24 hours. On August 11, Ethereum once again rose above $4300.
The main reasons for this ETH price breakthrough above $4300 are as follows:
Institutional capital inflow: In the past four weeks, the cumulative net inflow of U.S. spot Ethereum ETFs reached as high as $5.37 billion. On August 8 alone, the ETH spot ETF recorded a net inflow of $461 million. On August 10, the inflow of related ETF funds reached $222 million, with the cumulative net inflow in the past week exceeding $326 million. BlackRock increased its holdings by 65,000 ETH at once, valued at approximately $271.8 million, indicating the optimism of traditional financial giants regarding the value of Ethereum assets.
Strong performance of on-chain data: Currently, over 15% of the circulating ETH supply has been staked, reaching a historical high, indicating long-term holders' confidence in Ethereum's future value. Meanwhile, the number of daily active addresses on the Ethereum network has surpassed 350,000, with daily transaction volume reaching 1.74 million, and the network utilization is in a state of healthy growth. In addition, both long-term holders and new investors are showing positive performance, with Vitalik Buterin's personal holdings also exceeding $1 billion, returning to the ranks of on-chain billionaires.
From a technical perspective, ETH/USD has formed a clear upward channel, with prices continuing to create higher lows and higher highs since mid-April. The breakout on August 9 confirmed the validity of the upward channel. Currently, Ethereum's key support level has moved up to $4100, with short-term resistance in the range of $4350-$4400, and breaking through will directly challenge the historical high of $4800.
At the same time, if macroeconomic policies change, such as the Federal Reserve delaying interest rate cuts or increased regulation of cryptocurrencies, it may suppress the upward momentum. Additionally, the cryptocurrency market is highly volatile, and sudden changes in market sentiment may also trigger unexpected pullback risks.
#ETH突破4300
From August 9 to 11, the price of Ethereum (ETH) repeatedly broke through the $4300 mark, reaching a new high since December 2021. On August 9, ETH effortlessly surpassed the highest point of $4100 since 2024 and surged to $4300, peaking at $4332. On August 10, the trading price of Ethereum once broke through $4300, and as of 1:30 PM that day, Ethereum reported $4224.67, up 1.1% in the past 24 hours. On August 11, Ethereum once again rose above $4300.
The main reasons for this ETH price breakthrough above $4300 are as follows:
Institutional capital inflow: In the past four weeks, the cumulative net inflow of U.S. spot Ethereum ETFs reached as high as $5.37 billion. On August 8 alone, the ETH spot ETF recorded a net inflow of $461 million. On August 10, the inflow of related ETF funds reached $222 million, with the cumulative net inflow in the past week exceeding $326 million. BlackRock increased its holdings by 65,000 ETH at once, valued at approximately $271.8 million, indicating the optimism of traditional financial giants regarding the value of Ethereum assets.
Strong performance of on-chain data: Currently, over 15% of the circulating ETH supply has been staked, reaching a historical high, indicating long-term holders' confidence in Ethereum's future value. Meanwhile, the number of daily active addresses on the Ethereum network has surpassed 350,000, with daily transaction volume reaching 1.74 million, and the network utilization is in a state of healthy growth. In addition, both long-term holders and new investors are showing positive performance, with Vitalik Buterin's personal holdings also exceeding $1 billion, returning to the ranks of on-chain billionaires.
From a technical perspective, ETH/USD has formed a clear upward channel, with prices continuing to create higher lows and higher highs since mid-April. The breakout on August 9 confirmed the validity of the upward channel. Currently, Ethereum's key support level has moved up to $4100, with short-term resistance in the range of $4350-$4400, and breaking through will directly challenge the historical high of $4800.
At the same time, if macroeconomic policies change, such as the Federal Reserve delaying interest rate cuts or increased regulation of cryptocurrencies, it may suppress the upward momentum. Additionally, the cryptocurrency market is highly volatile, and sudden changes in market sentiment may also trigger unexpected pullback risks.
#ETH突破4300
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ETH
4,737.1
+2.22%
