TechFlame reported that on August 11, Matrixport released today's analysis. The price of Ethereum broke through the $4,000 mark and hit a new high since the end of 2021. Increased institutional buying and favorable regulations were the main driving factors. On-chain data shows that the daily transaction volume exceeds 1.8 million, and more than 30% of the supply has been pledged. The US Securities and Exchange Commission (SEC) recently ruled that liquid collateral tokens are not classified as securities, driving some listed companies to accelerate their deployment. The total value of Ethereum held by institutions has reached 3.5 billion US dollars, an increase of nearly ten times over the previous year. The market is focused on the next resistance

level of $4,362, and the all-time high of $4,892 remains the ultimate target.