Matrixport: Ethereum's Next Target Price Could Be $4362, Boosted by Recent Institutional Buying Pressure and Regulatory Tailwinds
BlockBeats News, August 11th, Matrixport released its daily chart analysis stating that the Ethereum price surged past the $4,000 mark, hitting a new high since the end of 2021. This round of upward momentum was mainly driven by institutional buying pressure and a short squeeze. On-chain activity also reached a new all-time high, with a daily transaction volume of over 1.8 million and over 30% of the supply already staked.
The SEC ruled that liquidity staking tokens are not securities, bringing significant regulatory optimism to the industry and strengthening market confidence in Ethereum and staking platforms. Encouraged by this, some public companies have accelerated their strategic deployments, with their treasuries now holding over $3.5 billion worth of ETH, nearly a tenfold increase from last year.
The next target for the market may be $4,362, with the all-time high of $4,892 still seen as the ultimate milestone.
You may also like
Gainers
Latest Crypto News
Convert Hyperliquid MON Pre-Launch Swap Contract to Regular Contract Trade
Amazon to Invest Up to $500 Billion to Expand AI and Supercomputing Infrastructure for U.S. Government Agencies
Coinbase to Launch Monad (MON) Perpetual Contract Trading
「Buddy」 recharged about 500,000 U to open a 25x ETH long position and a 10x HYPE long position.
US Stock: Alphabet (GOOG) Soars to $317.75, Reaches All-Time High
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]