Matrixport's analysis on August 11 reveals Ethereum reaching a record high since 2021, driven by institutional buying, historic on-chain activity, and a favorable SEC ruling on liquid staking tokens.
On August 11, Matrixport's daily chart analysis reported Ethereum breaking the $4,000 mark—a record high since late 2021. The surge was fueled by institutional buying, short liquidations, and historic on-chain activity with over 1.8 million transactions and more than 30% of its supply staked. A favorable SEC ruling on liquid staking tokens boosted market confidence, leading public companies to raise ETH treasury holdings to over $3.5 billion, with market targets at $4,362 and a historical high of $4,892 as the ultimate milestone.