Ethereum Surpasses $4K Amid Breakout and Rising Institutional Demand, Indicating Potential for Further Gains

Key Points

1. Ethereum's price broke above $4,000, marking a significant technical milestone and reflecting renewed market confidence.

2. Institutional ETH holdings surged 127% in July, largely due to ETF inflows and rising on-chain activity.

3. The ETH/BTC ratio rose 38% in 30 days, indicating Ethereum's growing strength relative to Bitcoin and potential benefits for Layer 2 ecosystems.

4. Ethereum processed 1.74 million daily transactions on August 5, surpassing the peak of the 2021 bull market.

5. Derivatives market data shows increased open interest (11.15% to $58.25 billion) and options volume (72.10% to $3.43 billion), with a strong long-to-short ratio (3.03) on Binance ETH/USDT.