Summary
- Matrixport reported that Ethereum has surpassed $4,000, reaching its highest price since the end of 2021.
- They explained that the SEC's decision not to classify liquid staking tokens as securities and the aggressive accumulation by listed companies have strengthened market trust.
- With the increase in on-chain activity, the number of daily transactions has exceeded 1.8 million, and more than 30% of the total circulating supply has been staked.
An analysis has emerged indicating that market trust in Ethereum (ETH) is strengthening.
On the 11th (local time), Matrixport stated via X (formerly Twitter), "Ethereum has surpassed $4,000, marking its highest level since the end of 2021." They added, "This result is due to the U.S. Securities and Exchange Commission (SEC) deciding not to classify liquid staking tokens as securities, which has boosted market trust in Ethereum." They continued, "There has also been a sharp increase in aggressive accumulation by corporations, with the amount of Ethereum held by listed companies reaching 10 times last year's level."
Matrixport also drew attention to the increase in on-chain activity, stating, "On-chain activity for Ethereum has reached an all-time high." They explained, "The number of daily transactions has exceeded 1.8 million, and over 30% of the total circulating supply is now staked."
As of 4:39 p.m., according to the Binance USDT market, Ethereum is trading at $4,270, up 2.05% over the past 24 hours.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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