PANews August 12 news, according to CryptoQuant analyst oinonen_t's analysis, Binance's Ethereum open contracts have reached $10 billion, a 46% increase over 30 days. The ETH price has risen to $4300, approaching the historical high of $4867 set in 2021. Upgrades have optimized network performance, reducing L2 transaction costs by 90%, with 30% of the supply locked in staking. Institutional funds are pouring in, with spot ETF trading volume exceeding $117 billion, and whales continue to buy. If market sentiment remains positive, it could trigger short covering, significantly driving up the ETH price.
