.

• • Reached $4,614.11 on August 12, marking its highest level in years

• • Market capitalization rose to $553 billion with a daily trading volume of $57.99 billion

• • Prices are moving in harmony with the broader rise in cryptocurrencies (Bitcoin approaching $120,000 and BNB rising)

Institutional and Regulatory Catalysts

• • ETF flows reached a record level of $1.02 billion on August 12, led by ETHA from BlackRock

• • The CLARITY and GENIUS laws reduced regulatory ambiguity

• • The SEC approved mixed investment funds (ETP) including Bitcoin and Ethereum with currency settlement

• • Technical developments: The May 2025 upgrade (Pectra) improved securitization limits; and a hard fork in November (Fusaka) aims to enhance gas costs

Trading Insights and Risk Factors

• • A new support level is forming at $4,350 while the next resistance level rises to $4,700

• • Caution is required: $250 million from the recent liquidation plus BitMine's holding of 1.15 million ETH

• • The Ethereum Foundation's sale of 2,794 ETH ($12.78 million) indicates a potential for profit-taking

• • Community sentiment remains 86.78% positive despite the presence of large short positions

Strategic Opportunities

• • Activities in layer two solutions (Optimism, Arbitrum) increased by 15% after the upgrade

• • It is recommended to open buy positions with a stop loss below the $4,350 level

• • Monitoring institutional flows as the key driver of price movements

• • Attention to short-term volatility while maintaining positive medium-term expectations