Ethereum price hits a new high for this phase.

On August 10th, data from the globally renowned cryptocurrency price tracking website CoinGecko showed that the trading price of Ethereum (ETH) once climbed above $4300 on that day;
This price level has reached a new high since the end of 2021, attracting widespread attention from the cryptocurrency market.
Meanwhile, according to the latest monitoring data from cryptocurrency monitoring agency @EmberCN, there has been a large-scale accumulation of Ethereum in the cryptocurrency market over the month since July 10.
More than 1.035 million Ether have been accumulated by multiple unidentified whale accounts or institutions through various channels such as exchanges and institutional exclusive business platforms. Based on the current market price, the total value of these hoarded Ether amounts to 4.167 billion dollars.
It is worth noting that within this one-month time window, the price of Ethereum has also seen a significant increase, rising from around $2600 near July 10 to the $4000 level, with a price increase of 45%, corresponding to large-scale accumulation behavior.
Most of the ETH in these addresses that are hoarding ETH likely belongs to traditional institutional investors or those US-listed companies that use ETH as a reserve asset (excluding the addresses of publicly disclosed SBET-related accounts).
According to calculations, the average purchase price of the accumulated ETH is approximately $3546, and this cost level also indirectly reflects the institutions' recognition of the mid-term value of Ethereum.
This time, the price of Ethereum reached a new high in this stage, accompanied by large-scale institutional accumulation. This not only reflects the market's confidence in the development of the Ethereum network ecosystem but also indicates that the acceptance of cryptocurrency assets among institutional investors is continuously increasing.