Ethereum (ETH) has performed impressively recently, successfully breaking through the $4,600 mark, attracting widespread attention in the market. This breakthrough is not just a change in price, but also reflects a positive shift in market sentiment and capital movement.

On-chain data analysis shows that the ETH ecosystem is experiencing a wave of activity. The simultaneous rise in the number of active wallets and transaction volume clearly indicates that funds are flowing back into the market. Notably, the net inflow of large addresses continues to increase, suggesting that major funds are establishing new positions.

From a technical analysis perspective, after ETH broke through the $4600 mark, various technical indicators showed a strong upward momentum. The moving average system is completely in a bullish arrangement, and the short-term resistance levels are gradually being digested. Historical experience shows that whenever ETH breaks through a key price level, it often triggers a round of accelerated rises.

The continuous development of the Ethereum ecosystem provides a solid foundation for this round of price increase. The usage of Layer 2 solutions has significantly increased, and the total locked value of decentralized finance (DeFi) projects is also steadily rising. These factors together form a strong driving force supporting the rise in ETH prices.

Market analysts generally believe that ETH is expected to challenge the 6000 USD mark in the near future. However, investors should remain cautious, closely monitor market changes, and manage risks wisely. As the cryptocurrency market continues to mature, ETH, as a leader in smart contract platforms, has a promising future worth looking forward to.