Institutional capital inflow and favorable policies are driving Ethereum, target price $4,362

According to HashKey, analysis from Matrixport indicates that the price of Ethereum has broken through $4,000, reaching a new high since the end of 2021. This round of increase is primarily driven by institutional purchases and short liquidations. On-chain data shows that the daily trading volume exceeded 1.8 million transactions, while over 30% of the supply has been staked. Additionally, the U.S. Securities and Exchange Commission (SEC) ruled that liquid staking tokens are not classified as securities, bringing significant regulatory benefits to the industry and further enhancing market confidence. Some listed companies have rapidly expanded their businesses, with their holdings of Ethereum now valued at over $3.5 billion, nearly ten times higher than last year. The next target price for the market may be $4,362, while the historical high of $4,892 remains the ultimate milestone.