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EHT Breaks Its All-Time High.
• ETH reached a historic $4,887.59 on August 22, surpassing the high of November 2021
• It is trading at $4,828.70 (August 23) with a market capitalization of $583.15B and a daily volume of $75.97B
• The technical structure shows strong bullish momentum with $4,100 establishing itself as the new support level
• The community sentiment is clearly bullish (83%) with targets at $5,000 and higher levels
Key Driving Factors
• Powell's speech at Jackson Hole indicated possible rate cuts in September, boosting risk assets
• The net inflows into ETFs of $290.35M reversed the previous trend of outflows, showing renewed institutional interest
• Whale activity shows a rotation of $76M from BTC positions to ETH
• The U.S. government's holding of 65,232 ETH ($281M) affects supply dynamics
• SharpLink Gaming's allocation in its corporate treasury demonstrates institutional confidence
