Ethereum Breaks Historical High of $4887

ETH Breaks Historical High

New High and Market Capitalization

• On August 23, reached a historical high of $4887.59, with a 24-hour increase of 14%

• Market capitalization reached $586 billion, ranking 25th among global tech companies

• On-chain profits soared to $1.742 billion in a single day

Driving Forces

• The Federal Reserve's 'dove' statement strengthens expectations for a rate cut in September, boosting risk assets

• Institutional funds are pouring in, with $1 billion inflow into ETFs in a single day, BlackRock contributing $338 million

• The NFT market capitalization surged to $9.3 billion, with increased ecosystem activity

Trading Strategy

• Key support levels: $4800 (short-term), $4600 (mid-term)

• Risk signals: RSI overbought (76) and weakening MACD momentum

• Recommendation: Trend traders should accumulate in batches, while short-term traders should look for pullback opportunities

Market Sentiment

• 84.39% of Binance Square users are bullish, believing institutional ETF inflows are the core driver

• Potential risk: $840,000 ETH large withdrawals within 24 hours may trigger short-term volatility

• SharpLink Gaming's $1.5 billion ETH buyback plan has garnered community attention $BTC $ETH #BNB创新高 #美国初请失业金人数