Ethereum Returns to Market Spotlight, $4800 Becomes a Key Battleground. In this recent wave of market activity, ETH is clearly not following Bitcoin's lead, creating an independent market trend, and even altcoins are moving to its rhythm. The price is now stuck at the historical threshold of $4800, which last year was a devilish price point that left countless people missing out.
To explain why the market is so euphoric right now, there are mainly three reasons: First, Wall Street institutions are really pouring in real money, with giants like BlackRock's spot ETFs attracting tens of billions just this week; Second, regulatory policies are gradually becoming clearer, with the new U.S. legislation making it more compliant to issue stablecoins on Ethereum; Lastly, on the technical side, Ethereum's Layer 2 scalability solutions have doubled transaction speeds and slashed fees to just a few cents.
Currently, the hottest topic in the trading hall is the $4800 position; whether it breaks this point will directly determine future trends. If it can surge past this level, it might replicate last year's Bitcoin rally to $120,000. However, one must also be cautious as the main players may have tricks up their sleeves; recently, the amount of ETH withdrawals from exchanges has noticeably increased, suggesting that some whales may be offloading.
In the long term, Ethereum's layout is increasingly resembling a financial infrastructure: DeFi lending, NFT trading, and enterprise-level applications are all converging here. I've heard that Sony is planning to develop metaverse infrastructure on Ethereum; if that happens, $4800 might truly become a floor price. However, in the short term, one must closely monitor trading volume; if it peaks and then falls back with volume...
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