Express
Matrixport: Ethereum's Next Target May Be at $4362, Driven by Institutional Buying and Regulatory Optimism
Summary: Matrixport's daily chart analysis indicates that Ethereum's price surged past the $4,000 mark, hitting a new high since the end of 2021, driven by institutional buying and short liquidation. On-chain activity also reached a record high, with daily trading volume exceeding 1.8 million transactions, and over 30% of the supply already staked. The SEC ruling ...
Matrixport's daily chart analysis indicates that Ethereum's price surged past the $4,000 mark, hitting a new high since the end of 2021, driven by institutional buying and short liquidation. On-chain activity also reached a record high, with daily trading volume exceeding 1.8 million transactions, and over 30% of the supply already staked. The SEC ruling that liquidity staking tokens are not securities brought important regulatory optimism to the industry, boosting confidence in Ethereum and staking platforms. In response, some listed companies have accelerated their ETH holdings, with their treasury holding over $3.5 billion worth of ETH, nearly ten times higher than last year. The next target in the market may be at $4,362, with the historical high of $4,892 still seen as the ultimate milestone.
Tags:
Link: Matrixport: Ethereum's Next Target May Be at $4362, Driven by Institutional Buying and Regulatory Optimism [Copy]
