Analysis: Driven by institutional buying and favourable information from regulators, the next target price for ETH is $4362.

PANews, August 11 - According to analysis from Matrixport, the price of Ethereum has broken through the $4,000 mark, reaching a new high since the end of 2021. This round of rise is mainly driven by institutional buying and a wave of short positions liquidation. The on-chain daily volume exceeded 1.8 million transactions, with over 30% of the supply already staked. In addition, the SEC's ruling that liquid staking tokens do not fall under the category of securities brings significant favourable information to the industry, further enhancing market confidence. Some listed companies are accelerating their布局, with their treasury holdings of Ether exceeding $3.5 billion, nearly ten times growth compared to last year. The market's next target may be $4,362, while the historical high of $4,892 remains the ultimate milestone.