Abstract: Analyzing the key drivers behind the recent significant rise of ETH.
Author: Biteye Core Contributor @viee7227
Ethereum has been around for ten years, with its ups and downs. Just as the market is heating up again, the price of ETH seems to be just a step away from its historical high.
This article analyzes seven major dimensions including institutional accumulation and ETF craze, foundation changes, K-line technical indicators, on-chain data, RWA and the rise of stablecoins, and roadmaps. Perhaps this rise of ETH has only just begun.
1. ETH Concept Stocks
Recently, the ETH market has seen unusually strong buying, with several listed companies and asset management institutions actively increasing their holdings, even incorporating ETH into their financial strategic core. At the same time, ETH reserve concept stocks have surged, becoming the new favorites in the US stock market.
The iconic event that triggered Wall Street's embrace of Ethereum was the high-profile bet on ETH by Thomas Lee, a well-known strategist and co-founder of Fundstrat.

Market trends
The current cryptocurrency market exhibits the following characteristics:
1. The weakening of the dollar is beneficial for the cryptocurrency market, but the impact of interest rate policies is diminishing;
2. The market has entered a phase of stock game, where the chip structure becomes a key factor;
3. Citigroup predicts that Bitcoin may reach $135,000 to $200,000 by the end of the year;
4. The spot market is quiet, while the futures market is active, showing characteristics of a volume reduction and price increase.
5. From August to September, it may enter a consolidation period, but the long-term outlook remains positive. The market is shifting from narrative-driven to capital and chip games.
Mainstream coins
$BTC
Continuously accumulate in the 110K-117K range, with strong buying pressure, but be wary of adjustments after breaking below the resistance line. ETF inflows exceed 150 billion USD, providing fundamental support for a long-term bullish outlook. In the short term, pay attention to the liquidity area at 117.5K; a break below may lead to a 10% pullback.
$ETH
Recently, the market has been hot, with whales increasing their holdings and institutional activity frequent, but caution is required.

The current crypto assets market shows strong resilience and high bullish sentiment, with the Bitcoin price maintaining at $117,000. Whale selling has not significantly impacted the market. Ethereum ETF inflows exceed those of Bitcoin, and there is frequent listing on exchanges, necessitating vigilance against regulatory risks and market overheating. Mainstream tokens such as BTC and ETH are exhibiting a bullish trend, but it is advised to participate cautiously and wait for clear signals.

More and more encryption trading platforms are launching US stock trading, allowing users to trade 24/7 with stablecoins. The article outlines various trading models, including third-party issuance, broker proprietary trading, and contract for difference, and analyzes the advantages and risks of each platform, such as liquidity risk, product nature, and the impact of trading hours.

The current Crypto Assets market is in a consolidation period, with Bitcoin and Ethereum facing pullback risks, but the Spot prices are stable. There is a clear divergence between bulls and bears, and market sentiment is cautious. Mainstream Tokens like $BTC and $ETH have potential for a rise in the short term, while $SOL and $BNB are performing strongly. Popular coins such as $BONK and $TRX are supported by fundamentals, but potential pullback risks need to be followed.

Today's zone market capitalization: $11.06B -4.65%
The pullback continues. DeFAI has made progress in multiple chains and ecosystems.
📈24h Coingecko Trading Volume Top 10:
Token Trading Volume Market Capitalization Price Volatility
1- $SAHARA $1.1B $193.7M $0.09 -30.0%
2- $VIRTUAL $293.9M $995.7M $1.52 -10.5%
3- $TAO $172.8M $3.9B $412.88 -4.5%
4- $AI16Z $133.5M $164.4M $0.15 -14.7%
5- $SHELL $124.0M $52.3M $0.19 +12.1%
6- $AIXBT $114.7M $1

Market Trend
The cryptocurrency market is currently in a high volatility phase: Bitcoin faces a key liquidation zone at $120,000/$116,000, with institutions holding 85% of the circulating supply; Ethereum experiences a coexistence of staking waves and unbonding demands, and the SEC's stance boosts confidence. The market generally believes that DeFi is an effective innovation, and the U.S. crypto bill may trigger a policy shift. In the long term, altcoins may face massive zeroing out, but the compliance process (such as stablecoins) may drive a new wave of institutional entry. High leverage indicates short-term risks, but it is still viewed positively in the context of credit expansion.
Mainstream coins
$BTC
Recently oscillating around 120k, but institutional buying (such as BlackRock) and increased spot demand support the price. From a technical perspective, the middle band support on the 4-hour chart is effective, and short-term oscillation may continue. If the 120k resistance is broken, there is potential for accelerated upward movement. ETH ETF inflows are strong, which may drive BTC. It is recommended to accumulate spot positions on dips, caution.

Today's zone market capitalization: $12.45B +0.01%
The zone stabilizes, ecological diversity enhances, and the industry is building more influence.
📈24h Coingecko Trading Volume Top 10:
Token Trading Volume Market Capitalization Price Volatility
1- $VIRTUAL $379.6M $1.2B $1.89 +0.8%
2- $TAO $273.0M $4.3B $450.14 +0.5%
3- $AI16Z $140.2M $221.8M $0.20 +1.2%
4- $AIXBT $91.0M $162.2M $0.17 -4.1%
5- $GOAT $75.3M $149.8M $0.15 +3.3%
6- $SAHARA $69.9M $186.3

The article reports on the rapid development of the current on-chain ecosystem and AI on-chain applications, mentioning a market capitalization of $12.44 billion and listing the top ten tokens by volume. It emphasizes that AI Agent applications are expanding into the music field, and complex DeFi operations are being optimized by AI, with multiple projects receiving funding and going public, promoting the construction of a decentralized AI ecosystem.

Recent market dynamics show that ETH has made a strong breakthrough, while BTC maintains high-level fluctuations, with market funds gradually flowing towards ETH and NFTs. Institutions continue to increase their holdings of mainstream tokens, but the trends of altcoins remain uncertain. The development of stablecoins has sparked discussions about the dollar system. Investors need to follow the pullback risks while seizing opportunities to accumulate at lower prices.

@SharpLinkGaming This Nasdaq small-cap stock, which originally had a market capitalization of only about 10 million USD, has seen its stock price rise over 200% in the past month! The key driving factor behind the stock price is a trap strategy revolving around ETH known as the "flywheel effect."
So, what exactly is SBET's "ETH flywheel" model? Can this round of ETH rise bring about a new bull market? This tweet will answer your questions👇
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⭐️ 1. Analyzing the "ETH flywheel" behind the rise of SBET
The big pump of SBET (SharpLink Gaming) stems from its multiple purchases of ETH, becoming a new player behind ETH. In simple terms, the company has established a self-reinforcing capital flywheel using ETH: buying ETH through stock financing ➡️ boosting stock prices with the ETH market and story effects ➡️ then financing to buy more ETH at a higher valuation, repeating this cycle.