To be honest, once this price breaks, the circle will explode. Some people are staring at the K-line screenshots and crazily forwarding them, while others are up all night digging data to calculate the increase—silently rising 1% in 24 hours may not seem like much, but it adds up when the market cap is nearly touching $500 billion; even a slight movement in this sizable market is real money shaking.
As for why it can rise so sharply? To put it simply, it's because 'there are indeed users, and indeed big names believe in it.'
Look at those lending and trading activities in DeFi, the buying and selling of NFTs like avatars and game equipment, all running on Ethereum. Just like some recently hot lending platforms, the money users deposit piles up like a mountain, and every transaction has to pay Ethereum a 'toll.' The more people use it, the more valuable it becomes. And those big institutions, like BlackRock, have also jumped in to buy; when they take action, retail investors can't help but join in the excitement.
Not to mention that Ethereum 2.0 is still being gradually rolled out. I've heard that after the upgrade, transfers will be faster and fees lower. Although it hasn't fully materialized yet, the prospect looks promising, and everyone is waiting to see it become powerful.
However, that being said, this circle is highly volatile. Those shouting 'Let's go!' now may be panicking and saying 'Run!' tomorrow. $3900 is just a hurdle; whether it can stabilize afterward still depends on whether the real demand can hold up. Anyway, for those wanting to enter, it's best to weigh their courage first—after all, a place that can make people smile while counting money can also make them cry while filling pits.
Finally, thank you for watching. Click on the avatar to follow Xiao Xu! I hope to use the experiences and lessons I've accumulated in the crypto world over the years to help you avoid detours and double your assets!
