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Ethereum Breaks $4300 to Reach 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 easily surpassed the highest point of $4100 since 2024, and surged to $4300, peaking at $4332. On August 10, Ethereum's trading price briefly exceeded $4300, and by 1:30 PM that day, Ethereum was reported at $4224.67, up 1.1% over the past 24 hours. On August 11, Ethereum once again rose above $4300.
The primary reasons for ETH's price breaking through $4300 are as follows:
Institutional Fund Inflows: Over the past four weeks, net inflows into U.S. spot Ethereum ETFs have reached as high as $5.37 billion. On just August 8, the ETH spot ETF recorded a net inflow of $461 million in a single day. On August 10, the relevant ETF inflow reached $222 million, with a cumulative net inflow of $326 million over the past week. BlackRock increased its holdings by 65,000 ETH, valued at approximately $271.8 million, indicating traditional financial giants' optimism about Ethereum's asset value.
Strong On-Chain Data Performance: Currently, over 15% of the circulating supply of ETH has been staked, setting a new 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, reflecting a healthy growth rate in network usage. Additionally, both long-term holders and new investors have shown positive behavior, with Vitalik Buterin's personal holdings exceeding $1 billion, re-entering the ranks of on-chain billionaires.
From a technical standpoint, ETH/USD has formed a clear upward channel, consistently setting higher lows and higher highs since mid-April. The breakthrough on August 9 confirmed the validity of the upward channel, and currently, Ethereum's key support level has moved up to $4100, with short-term resistance in the $4350-$4400 range. A breakout 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 tightening cryptocurrency regulations, it may suppress upward momentum. Additionally, the cryptocurrency market is highly volatile, and sudden shifts in market sentiment could 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 easily surpassed the highest point of $4100 since 2024, and surged to $4300, peaking at $4332. On August 10, Ethereum's trading price briefly exceeded $4300, and by 1:30 PM that day, Ethereum was reported at $4224.67, up 1.1% over the past 24 hours. On August 11, Ethereum once again rose above $4300.
The primary reasons for ETH's price breaking through $4300 are as follows:
Institutional Fund Inflows: Over the past four weeks, net inflows into U.S. spot Ethereum ETFs have reached as high as $5.37 billion. On just August 8, the ETH spot ETF recorded a net inflow of $461 million in a single day. On August 10, the relevant ETF inflow reached $222 million, with a cumulative net inflow of $326 million over the past week. BlackRock increased its holdings by 65,000 ETH, valued at approximately $271.8 million, indicating traditional financial giants' optimism about Ethereum's asset value.
Strong On-Chain Data Performance: Currently, over 15% of the circulating supply of ETH has been staked, setting a new 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, reflecting a healthy growth rate in network usage. Additionally, both long-term holders and new investors have shown positive behavior, with Vitalik Buterin's personal holdings exceeding $1 billion, re-entering the ranks of on-chain billionaires.
From a technical standpoint, ETH/USD has formed a clear upward channel, consistently setting higher lows and higher highs since mid-April. The breakthrough on August 9 confirmed the validity of the upward channel, and currently, Ethereum's key support level has moved up to $4100, with short-term resistance in the $4350-$4400 range. A breakout 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 tightening cryptocurrency regulations, it may suppress upward momentum. Additionally, the cryptocurrency market is highly volatile, and sudden shifts in market sentiment could also trigger unexpected pullback risks.
#ETH突破4300
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ETH
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