In the recent cryptocurrency market, Ethereum ( ETH ) has shown a trend independent of Bitcoin, becoming the focus of the market. Currently, the ETH price is approaching the historical high of $4800, a key price level that caused many investors to miss opportunities last year.

The current market enthusiasm mainly stems from three aspects: first, Wall Street institutions are making a significant entry, with financial giants like BlackRock launching spot ETFs that attracted billions of dollars in funds this week. Second, the regulatory environment is gradually becoming clearer, as the newly passed legislation in the United States provides a clearer compliance framework for the issuance of stablecoins on Ethereum. Finally, on the technical level, Ethereum's Layer 2 scaling solutions have significantly improved transaction speeds while greatly reducing transaction costs.

4800 USD has become the focal point of current trading, and whether it can break through this level will directly affect the subsequent trend. If it can break through with significant volume, it may recreate the scenario where Bitcoin surged to 120,000 USD last year. However, investors should also be wary of potential risks, as the withdrawal volume of ETH from exchanges has noticeably increased recently, which may suggest that some large holders are offloading.

In the long term, Ethereum is gradually becoming a comprehensive financial infrastructure, covering multiple areas such as DeFi lending, NFT trading, and enterprise-level applications. It has been reported that Sony is also planning to develop metaverse-related projects on Ethereum. If this plan is implemented, the price of $4800 may become a new support level.

Despite the optimistic long-term outlook, investors still need to closely monitor changes in trading volume in the short term, especially whether there will be a volume-backed pullback after prices surge. In the current volatile market environment, accurately grasping the timing of entry is crucial to avoid losses caused by frequent high buying and low selling.

Besides Ethereum, investors should also pay attention to several other notable encryption currencies, such as OM, SUI, SOL, FUN, and BTC. These currencies have also shown varying degrees of active performance in the recent market, which may provide diversification opportunities for investment portfolios.