Matrixport's August 11 analysis reveals Ethereum's price surge past $4,000, marked by historic on-chain transactions and increased treasury holdings following a favorable SEC ruling on liquid staking tokens.
Matrixport's daily chart analysis on August 11 reported that Ethereum broke the $4,000 barrier, reaching a record high since late 2021, driven by institutional buying and short liquidations. The on-chain activity hit a peak with over 1.8 million transactions and more than 30% of Ethereum's supply staked. A favorable SEC ruling that liquid staking tokens are not securities boosted market confidence, prompting public companies to increase their ETH treasury holdings to over $3.5 billion—a nearly tenfold increase from last year. Market targets are set at $4,362, with a historical high of $4,892 considered the ultimate milestone.