ETH (Ethereum) returns above $4500

Gate News Bot message, September 12, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $4517.31, rising 3.68% in the last 24 hours, with a high of $4534.30 and a low of $4244.76. The 24-hour volume reached $38.234 billion. The current market capitalization is approximately $545.261 billion, an increase of $19.333 billion compared to yesterday.

Ethereum is a decentralized open-source blockchain platform that supports smart contract functionality. It is the leading platform for innovative applications and blockchain networks. The Ethereum ecosystem includes applications in various fields such as decentralized finance ( DeFi ), non-fungible tokens ( NFT ), and decentralized autonomous organizations ( DAO ).

Important news about ETH recently:

1️⃣ Institutional large-scale buying drives price rise Trend Research has leveraged to buy 9,377 ETH again, currently holding approximately 152,000 ETH, worth about $673 million. Multiple new wallets have withdrawn a large amount of ETH from centralized exchanges, including a withdrawal of 60,499 ETH (approximately $26.4 million). These institutional behaviors indicate a strong optimism towards ETH, providing strong support for the recent price rise.

2️⃣ On-chain data shows an increase in liquidity In the past 24 hours, there has been a significant increase in large on-chain fund flows. Several institutions and asset management companies, such as Virtuals Protocol and Galaxy Digital, have seen large inflows and outflows in ETH. This active fund flow has increased market liquidity, which is beneficial for price discovery and the healthy development of the market.

3️⃣ Derivatives market risk rising "Ma Ji Da Ge" Huang Li Cheng slightly reduced his ETH long position, currently holding 26,200 ETH, with a liquidation price of $3,136.651. At the same time, a certain whale address increased its short position in BTC by about $1.06 million, currently facing an unrealized loss of about $5.78 million, with a liquidation price of $118,627.63. These high-leverage operations indicate that the risk in the derivatives market has increased, and investors need to be wary of potential chain liquidation risks.

From a technical perspective, the ETH price has broken through the key resistance level of $4450 and is expected to continue rising in the short term. However, considering the profit-taking pressure after the recent rapid rise, investors should remain cautious and pay attention to potential pullback risks.

This message is not intended as investment advice, and investors should be aware of market volatility risks.